RE:Globe says Echelon rates Theralase "speculative buy Great read -
.90 cents - it will surpass that
Rocketred2015 wrote:
Globe says Echelon rates Theralase "speculative buy" 2017-09-06 07:37 ET - In the News The Globe and Mail reports in its Wednesday, Sept. 6, edition that Echelon Wealth Partners analyst Douglas Loe began coverage of Theralase Technologies, a Toronto-based biotech company, with a "speculative buy" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Loe says, "Our valuation is based on NPV (35-per-cent discount rate) and multiples of our fiscal 2023 EBITDA/EPS forecasts, all based on value projected from future sales of Theralase's FDA/Health Canada-approved therapeutic laser therapy TLC-2000 and more substantively from the firm's lead clinical oncology asset, a ruthenium-based photodynamic therapy (PDT) called TLD-1433, for which Theralase's initial target market is expected to be BCG-refractory non-muscle invasive bladder cancer (NMIBC), for which Phase I testing is already well advanced and generating encouraging early data." Mr. Low calls PDT TLD-1433, a bladder cancer drug, "a major value driver" given its formal clinical testing has begun and is "advancing well." He set a share price target of 90 cents.