- Theralase Technologies (TSXV:TLT) has closed a non-brokered private placement offering of 4.1 million shares for gross proceeds of C$750,200
- This financing was done at $0.18 per unit, where each unit consists of one company share and one common share purchase warrant
- The clinical stage pharmaceutical company plans to use the proceeds of the financing to further the Phase II Non-Muscle Invasive Bladder Cancer clinical study, preclinical research and development of Rutherrin
- Theralase Technologies last traded at $0.16 per share
Theralase Technologies (TSXV:TLT) has closed a non-brokered private placement offering of 4.1 million shares for gross proceeds of C$750,200.
This financing announced Wednesday was done at $0.18 per unit, where each unit consists of one company share and one common share purchase warrant. Each warrant entitles the holder to acquire an additional share at $0.25 per share for five years.
The clinical stage pharmaceutical company plans to use the proceeds of the financing to further the Phase II Non-Muscle Invasive Bladder Cancer clinical study currently underway, preclinical research and development of its Rutherrin cancer treatment, and the usual working capital and general corporate purposes.
The company has been advancing its efforts quickly and was recently awarded a Canadian patent for its cancer vaccine, “Vaccine Containing Cancer Cells Inactivated by Photodynamic Treatment with Metal-Based Coordination Complexes and Immunotherapy Method Using Same,” which protects its Photo Dynamic Compounds technology.
Theralase Technologies is a clinical-stage pharmaceutical company researching and developing light-activated compounds, their associated drug formulations and the light systems that activate them, to destroy various cancers, bacteria and viruses.
Theralase Technologies Inc. (TSXV:TLT) last traded at $0.16 per share. The stock has given back 40 per cent year-over-year, and 67 per cent over the past five years.
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