Echelon starts Theralase at speculative buy
Echelon Wealth Partners initiated coverage of Theralase Technologies (TSXV:TLT) with a “speculative buy” rating and one-year price target of 90 cents. The stock closed at 47 cents on Sept. 1.
Analyst Doug Loe writes that his valuation is based on the value projected from future sales of Theralase’s FDA/Health Canada-approved therapeutic laser therapy, TLC-2000, and more substantively from the firm’s lead clinical oncology asset, a ruthenium-based photodynamic therapy (PDT) called, TLD-1433.
Theralase’s initial target market for TLD-1433 is expected to be BCG-refractory non-muscle invasive bladder cancer, for which Phase 1 testing is already well advanced and generating encouraging early data, he added. A proprietary laser also developed by Theralase called, TLC-3200, activates TLD-1433.