Theralase(R) Releases Q2 2026 Financial Statements

Cookie Settings We use cookies to analyze user behavior in order to constantly improve the website for you. View our Privacy Policy and Terms of Use . Necessary Analytics Accept All Accept Selection Reject All × Skip to main content Newsfile Search English Français Deutsch Español Search × Login Username Password Login Newsfile Login Search Français Home About About Company Overview Who We Serve Upcoming Events Careers Services Services Press Release Distribution News Service Overview Global Distribution Additional News Services AI Disclosure Intelligence SEDAR+ About SEDAR+ SEDAR+ Resources EDGAR EDGAR Service Overview EDGAR Resources Webcasting and Conference Calling Newsroom Newsroom Newsroom Newswire Guidelines Sign Up for News Integrate Blog Contact Theralase(R) Releases Q2 2026 Financial Statements Theralase(R) Provides Updates on its Phase II Bladder Cancer Clinical Study and Oncology Pipeline August 28, 2026 4:36 PM EDT | Source: Theralase Technologies Inc. Toronto, Ontario--(Newsfile Corp. - August 28, 2026) - Theralase® Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) (" Theralase® " or the " Company "), a clinical-stage pharmaceutical company dedicated to the research and development of energy-activated small molecules for the safe and effective destruction of various cancers, bacteria and viruses, has released the Company's unaudited interim consolidated financial statements for the six-month period ended June 30th, 2026 (" Financial Statements "). Theralase® will be hosting a conference call on September 3rd at 11:00 am ET , which will include a presentation of the financial and operational results for the quarter ended June 30th, 2026. To ensure Theralase® has time to address questions during the call, please e-mail them in advance to mperraton@theralase.com . Zoom Meeting Link: https://us02web.zoom.us/j/89698954744 Conference Call in: Webinar ID: 896 9895 4744 - 1-647-558-0588 (Canada) / 1-646-558-8656 (US) - not required for those attending by Zoom. An archived version will be available on the website following the conference call. Table 1: Financial Summary for the Six-Month Period Ended June 30 th To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2786/311984_96140ebca497fa6e_001full.jpg Financial Highlights: For the six-month period ended June 30th, 2026 (All funds in Canadian Dollars): Total revenue decreased to $296,927 from $310,933 for the same period in 2025, a 5% decrease. Cost of sales for the six-month period ended June 30th, 2026, was $146,981 (50% of revenue), resulting in a gross margin of $149,946 (50% of revenue). In comparison, cost of sales for the same period in 2025 was $178,966 (58% of revenue), resulting in a gross margin of $131,967 (42% of revenue). Selling expenses remained essentially unchanged at $138,811, compared with $139,011 for the same period in 2025. Administrative expenses for the six-month period ended June 30th, 2026 increased to $1,003,798 from $995,333 for the same period in 2025, a 1% increase. The increase was primarily attributable to higher professional fees, investor relations, administrative salaries and amortization and depreciation allocation, partially offset by lower stock-based compensation. Net research and development expenses for the six-month period ended June 30th, 2026 decreased to $1,101,126 from $1,460,447 for the same period in 2025, a 25% decrease. The decrease was primarily attributable to lower Study II patient enrollment and treatment costs. Research and development expenses represented 49% of the Company's operating expenses and reflect continued investment in the research and development of the Company's Drug Division. The net loss for the six-month period ended June 30th, 2026 was $2,093,926, which included $287,146 of net non-cash expenses (amortization, stock-based compensation and interest accretion on lease liabilities). This compared with a net loss of $2,423,234 for the same period in 2025, which included $485,865 of net non-cash expenses. The Drug Division represented $1,684,924 (80%) of the loss. The 14% decrease in net loss was primarily due to reduced research and development spending on Study II. Cash was $5,260,832 as of June 30th, 2026, compared with $182,914 as of December 31st, 2025. Subsequent to quarter-end, on August 24th, 2026, the Company closed a brokered private placement under the listed issuer financing exemption for aggregate gross proceeds of $3,555,000. Operational Highlights: Collaborative Clinical Development Agreement On January 12 th , 2026, the Company announced that it had entered into a collaborative clinical development agreement dated January 9 th , 2026 with Ferring Pharmaceuticals, expanding the Company's existing Phase II NMIBC clinical program (NCT03945162) through the addition of a new cohort evaluating Ruvidar® (TLD-1433) in combination with Adstiladrin® (nadofaragene firadenovec-vncg) for adult patients diagnosed with high-risk Bacillus Calmet