TORONTO, Nov. 28 /CNW/ - Theralase Technologies Inc. (TSXV: TLT & OTC BB:
TLTFF) today announced financial results for the three and nine months ended
September 30, 2007.
- Accelerated marketing efforts in the U.S. to sell TLC-1000 products
- Advanced R&D on Theralase's next generation laser, the TLC-2000, in
preparation for product launch targeted for Q3 2008
- Commenced a two-year project focused on combining photodynamic
compounds (PDCs) with Theralase's laser technology, the TLC-3000, to
destroy cancer, bacterium, viruses and fat cells
- Raised net proceeds of $799,278 in a closed non-brokered private
- Revenue increased 6% to $347,580 in Q3 2007
- Net loss was $192,587 in Q3 2007 versus a profit of $4,839 in Q3 2006
"Our focus is on expanding into the U.S. market, a large and growing
market for Theralase products, where product sales grew 85% year-over-year in
Q3 2007," said Roger White, CEO of Theralase. We are also encouraged with the
development of our next generation products, which are a valuable part of our
product pipeline going forward."
Revenue increased 6% to $347,580 in Q3 2007, compared to $326,793 in the
same period last year. Product sales increased 13%, with sales to the U.S.
market rising by 85% to $166,434. Service revenue increased by 43%, due to a
higher installed base of products requiring calibration. Other revenue
decreased by 57% due to the cancellation of the U.S. educational seminars in
2007. The Company plans to reintroduce U.S. educational seminars in 2008 with
new strategic partners.
Gross margin was $260,731 or 75% of revenue, compared with $268,493 or
82% of revenue for the same period last year. The 7% decrease in gross margin
was primarily due to the stronger Canadian dollar.
Operating expenses increased 72% to $457,326 from $265,952 in the prior
year, as Theralase increased headcount, particularly in sales, relocated the
corporate office to larger premises and took a non-cash expense of $55,816 for
Development costs totalled $74,658 for the three months ending September
30, 2007, compared to $6,407 for the same period in 2006, as the Company
accelerated spending on its future product pipeline, in particular the
TLC-2000 therapeutic laser and the TLC-3000 photo dynamic technology.
The net loss for the three months ended September 30, 2007 was $192,587
which included non-cash expenses such as amortization and stock-based
compensation totalling $95,767.
TLC-2000: Biofeedback Laser Technology
During the quarter, Theralase made progress on developing its next
generation therapeutic laser - the TLC-2000. The patented TLC-2000 biofeedback
technology establishes a new standard in the therapeutic laser marketplace due
to its higher precision and learning device features. Theralase is planning to
commission clinical studies by the Mayo Clinic and Scripps Institute starting
in January 2008 to demonstrate the efficacy of the new technology. Theralase
expects to starts selling the TLC-2000 in the third quarter of 2008.
TLC-3000: Cancer Therapy and Wound Healing
On July 1, 2007, Theralase, in conjunction with University Health Network
(UHN) and the Ontario Centres of Excellence's Photonics Centre of Excellence
(OCE), commenced a two year project focused on harnessing the energy of
Photodynamic Compounds (PDCs) with patented Theralase laser technology to
destroy cancer, bacterium (wound healing), viruses and fat cells. Initial
results on the analysis of the PDCs are expected in the first quarter of 2008.
Commencement of the Theralase TLC-3000 laser system to activate the compounds
is scheduled to commence in the third quarter of 2008.
The Company continues to invest in its future through: growing its
therapeutic laser rehabilitation and training center, research and
development, product commercialization, and sales and marketing. As a result,
the Company expects to incur losses in the next few quarters. Our future sales
growth will depend on how quickly we can execute our sales and marketing
strategy in both Canada and the U.S.
The complete consolidated financial statements and MD&A for the quarter
ended September 30, 2007 can be found at www.theralase.com and www.sedar.com.
Theralase Technologies Inc. designs, develops and manufactures patented,
super-pulsed laser technology used in a wide range of bio-stimulation and
bio-destruction clinical applications. The Theralase technology platform
targets several diverse healthcare sectors firstly, for non-invasive pain
management and clinical therapy, in hundreds of neural muscular skeletal
conditions, (including arthritis) secondly, to bio-stimulate and accelerate
wound care and healing, (including; bone fracture regeneration and
osteoarthritic conditions) and thirdly, combining photodynamic compounds with
super-pulsed, biofeedback laser technology to attack specifically targeted
cancers, bacterium, viruses and fat cells.
For a complete profile of Theralase(TM) and its products, visit
www.theralase.com or www.sedar.com.
This press release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from those projected herein. The Company disclaims any obligation
to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
For further information:
For further information: Roger White, President & CEO, Toll Free:
1-866-THE-LASE (843-5273), Phone: (416) 447-8455, e-mail: