Vancouver, BC, May 16, 2014 - Zacks Small-Cap Research has initiated coverage on Theralase Technology (TSXV:TLT) (OTCBB:TLTFF). Analyst Anita Dushyanth gives the company a target price of $1.00, a premium of 270% to the $0.27 price on May 6th, the day the report was issued.
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Theralase designs, manufactures and markets patented, superpulsed laser technology.
Therapeutic lasers belong to a specific class of lasers that do not cut or destroy tissue, but instead are used to heal and have a therapeutic curative effect on tissue. The cold laser produces an impulse of light at a specific wavelength that minimizes reflection and scattering but maximizes absorption of the energy at a desired depth. It can be used for healing various tissue structures, such as muscles, tendons, ligaments, joints, connective tissues, and bones. It can also be used for treating numerous conditions such as muscular-skeletal conditions, nerve rehabilitation, wound healing, anti-aging and addiction therapy.
Theralase plans to phase-out the TLC-1000 system and incentivize its customers to upgrade to the latest technology, the TLC-2000, which is expected to be rolled-out commercially in the fourth quarter of 2014. Theralase is actively developing patented technology that is able to target and destroy cancers, bacteria and viruses when light activated.
Analyst Anita Dushyanth stated, "Theralase technology is currently well positioned in the market. The launch of a new product, an improving economy and an aggressive sales and marketing strategy will help boost their sales in the coming years. Theralase is backed by a strong management team with significant knowledge and expertise along with a strong portfolio of IP and the ability to get regulatory approvals for therapeutic lasers."
Cold laser therapy is usually paid for in cash at clinics, as it has limited CPT code coverage. However, with its new patented TLC-2000 technology, Theralase expects to secure a new CPT code for reimbursement for laser treatments in the U.S.
On May 15th, the company announced that it has partnered with Princess Margaret Cancer Centre, University Health Network ("UHN") to complete preclinical research on its Photo Dynamic Compound (PDC) technology for the destruction of cancer.
Dr. Arkady Mandel, Chief Scientific Officer of Theralase stated, "I am delighted that we have partnered with UHN to complete this pivotal preclinical research. UHN is one of the top five cancer centres in the world and provides excellent clinical and scientific support to our existing teams to complete the preclinical work required to prepare us for a Phase 1/2a human clinical trial for bladder cancer."
Roger Dumoulin-White, President and CEO stated, "2013 was a pivotal year for Theralase, where we relocated our head office to a better corporate location, streamlined our operations and made advancements in both the therapeutic laser and anti-cancer divisions. 2014 will be a very exciting year for Theralase as we increase our revenues through expansion of our sales and marketing initiatives, launch our next generation therapeutic laser technology and prepare to commence human clinical trials in our anti-cancer division in early 2015."
The company currently trades at $0.215, well below the $1.00 target price, and with 57 million shares outstanding, the company is capitalized at $12.3 million.
For more information about Theralase, please visit the company's website www.theralase.com, contact Roger Dumoulin-White, President, at 416-699-5273 ext 225, or email rwhite@theralase.com.
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