Theralase® Reports Q2 2026 Financial Results
News related to:Theralase® Technologies Inc · 2 min read
Theralase® Technologies Inc, a clinical-stage pharmaceutical company based in Ontario, has released its unaudited interim consolidated financial statements for the six-month period ended June 30th, 2026. The company reported a 5% decrease in total revenue, dropping to $296,927 from $310,933 in the same period of 2025.
Cost of sales for the six-month period ended June 30th, 2026, was $146,981, representing 50% of revenue, resulting in a gross margin of $149,946, or 50% of revenue. This compares to a cost of sales of $178,966, or 58% of revenue, in the same period of 2025, which yielded a gross margin of $131,967, or 42% of revenue. Selling expenses remained relatively stable, at $138,811, compared to $139,011 in the same period of 2025.
Net research and development expenses for the six-month period decreased to $1,101,126 from $1,460,447 in the same period of 2025, a 25% decrease. The decrease was primarily attributed to lower Study II patient enrollment and treatment costs. Research and development expenses represented 49% of the Company's operating expenses and reflected 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, including $287,146 of net non-cash expenses (amortization, stock-based compensation, and interest accretion on lease liabilities). This compared to 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 accounted for $1,684,924 (80%) of the loss. The net loss decreased by 14% from the previous year.
Cash as of June 30th, 2026, stood at $5,260,832, up significantly from $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.
Theralase® will host 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 [email protected]. An archived version will be available on the website following the conference call.
1 Other represents foreign exchange, interest accretion on lease liabilities, and/or interest income.