Following the company’s second quarter results, Research Capital analyst Andre Uddin is maintaining his bullish price target on Theralase (Theralase Stock Quote, Chart, News, Analysts, Financials TSXV:TLT).
On August 29, TLT reported its Q2, 2023 results. For the six month period ended June 30th, the company lost $2.56-million on revenue of $426,087, a topline that was down 23 per cent over the same period last year.
Uddin summed up the quarter.
“TLT reported Q2 results, which are less important at this time as the company’s key value driver, TLD-1433 (Ruvidar) is still in its Phase 2 pivotal trial. We remain bullish on Ruvidar’s ability to treat BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) given the strong data that has continually been relased this past year. We continue to believe that Ruvidar has the potential to achieve a better and longer duration of CR than Merck’s Keytruda. We expect Ruvidar to launch in 2026.”
In a research update to clients August 31, Uddin maintained his “Speculative Buy” rating and one year price target of $0.80 on Theralase, implying a return of 255.6 per cent at the time of publication.
About Theralase Technologies (via Company Handout)
Theralase is a clinical-stage pharmaceutical company dedicated to the research and development of light-activated compounds, their associated drug formulations and the light systems that activate them, with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.