Theralase announced its 2012 year-end financial results, reporting a 10% reduction in total revenue to $1.8 million compared to 2011, primarily due to a decrease in laser sales in the US and internationally. Research and development costs increased 15% to $873,335 as the company focused on developing its next-generation laser and photo dynamic compound cancer destruction technology. The net loss for 2012 was $1.5 million, up from $1.45 million in 2011, due to increases in stock-based compensation and R&D costs. Theralase is preparing to launch its new TLC-2000 laser in 2013 and expects its photo dynamic compound bladder cancer treatment to be ready for human trials in 2014.