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2012 Year End Results


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2012 Year End Results

  1. 1. Press ReleaseTheralase Announces 2012 Year End FinancialsTheralase Advances Therapeutic Laser and Cancer Destruction TechnologiesToronto, Ontario – May 1, 2013, Theralase Technologies Inc. (TSXV: TLT) announced its year end 2012 financialresults today.Total revenue for the twelve month period ended December 31, 2012 dipped slightly to $1,824,313 compared to$2,027,058 for the same period in 2011, a 10% reduction, primarily due to a reduction in laser sales in the US andinternationally. In 2012, Theralase focused its efforts on laser sales in Canada for its Therapeutic Laser Technology(TLT) Division and for accelerating the research and development of its patented cancer destruction platform forits Photo Dynamic Therapy (PDT) Division.Selling expenses decreased by 41%, to $626,380 for the twelve month period ended December 31, 2012 comparedto $1,060,288 for the same period in 2011. The percentage decrease was due to decreased spending on salaries,marketing, advertising and travel related expenses, as more focus was paid to completing sales in Canada, thanabroad.Administrative expenses increased from $1,028,431 for the twelve months ended December 31, 2011 to$1,238,900 for the same period in 2012 representing an increase of 20%. The increase in administrativeexpenditures was primarily due to increases in the costs associated with stock based compensation.Research and development costs increased to $873,335 for the year ended December 31, 2012 compared to$759,352 for the previous year, representing a 15% increase, due in part to the costs required to commercializethe TLC-2000 biofeedback laser, but primarily due to research and development costs of the TLC-3000 PhotoDynamic Compound (PDC) cancer and bacteria destruction technology.The net loss for the year ended December 31, 2012 was $1,509,569, which included $322,915 of net non-cashexpenses (amortization, stock-based compensation expense, foreign exchange gain/loss, equipment write-off andlease inducements) compared to a net loss in 2011 of $1,453,974, which included $74,921 of net non-cashexpenses. The increase in net loss is due to increases in the costs associated with stock based compensation,commercialization of the patented TLC-2000 Biofeedback Therapeutic Laser due for launch in 2013 and primarilydue to the research and development of the TLC-3000 Photo Dynamic Compound cancer destruction technologydue for completion of the pre-clinical phase by 4Q2013.Theralase has had many successes in 2012, specifically:• Preclinical research that confirmed the complete destruction of subcutaneous (under the skin) coloncancer tumours in mouse subjects, which were treated with the Theralase anti-cancer Photo DynamicCompound (PDC) technology, which have continued to thrive cancer-free for more than 1 year post-treatment without any side effects.• Bladder cancer named as the principal cancer target• Theralase’s PDC was found to be 100% effective in destroying bladder cancer tumour cells• Theralase PDCs have shown an ability to destroy Escherichia Coli (E. coli) and Listeria Monocytogenes(Listeria) bacteria in vitro when light activated• Theralase establishes laser distributors in the Middle East and China• Addition of TENS (Transcutaneous Electrical Nerve Stimulation) on select laser models to allow additionalCPT billing codes for the US market• Theralases innovative anti-cancer PDC technology validated at major international conferences• Theralase expands intellectual property portfolio with increased patent protection• Renowned oncologist Dr. Michael Jewett joins Theralases medical and scientific advisory board
  2. 2. Press ReleaseRoger Dumoulin-White, President and CEO of Theralase Technologies Inc. stated, “The Company has completedthe research and development of its next generation, patented TLC-2000 Biofeedback Therapeutic Laser and isnow preparing for its launch in 4Q2013. In addition, Theralase has made great strides forward in the research anddevelopment of its patented Photo Dynamic Compounds (PDCs), indicated for the destruction of specific canceroustumours. Our first target, bladder cancer, should be ready for human trials as early as 2014. In order to capitalizeon this state-of-the-art cancer destruction technology and dramatically increase shareholder value, Theralase is innegotiations with strategic partners focused on the early commercialization of this ground breaking technology.”About Theralase Technologies Inc.Theralase Technologies Inc., founded in 1995, designs, develops, manufactures and markets patented, superpulsedlaser technology utilized in biostimulation and biodestruction applications. Theralase technology is safe andeffective in treating pain, inflammation and for tissue regeneration of neural muscular skeletal conditions andwound healing. As well, these applications extend to the care of animals by veterinarians. Theralase is currentlydeveloping patented Photo Dynamic Compounds (PDCs) that are able to target and destroy cancers, bacteria andviruses when light activated by Theralase’s proprietary laser technology.The complete consolidated financial statements and MD&A for twelve months ending December 31, 2012 may beviewed at and .This press release contains forward-looking statements, which reflect the Companys 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 anyobligation to update these forward-looking statements.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) acceptsresponsibility for the adequacy or accuracy of this release.For More Information, please contact:Roger Dumoulin-White,President & CEO416-699-LASE (5273) ext. 225rwhite@theralase.comKristina HacheyChief Financial Officer416-699-LASE (5273) ext. 224khachey@theralase.comGreg BewshDirector of Investor Relations416-699-LASE (5273) ext. 258gbewsh@theralase.comArkady MandelChief Scientific Officer416-699-LASE (5273) ext.