Research Capital likes the potential chances of Theralase Technologies’ (TSXV:TLT; OTCQB:TLTFF) Ruvidar photodynamic therapy being better than Merck’s Keytruda for treating Bacillus Calmette-Guérin (BCG)-unresponsive, non-muscle invasive bladder cancer (NMIBC).
In a new research report, analyst Andre Uddin, Ph.D., writes that Theralase recently presented more positive data at the 2023 GU ASCO conference that continues to highlight their “impressive, paradigm shifting, photodynamic therapy” for treating BCG-unresponsive NMIBC.
“Based on the data presented (while we are somewhat comparing apples to oranges and the sample size is smaller) – new Kaplan-Meier curves and swimmer plots showed a complete response duration that has the potential to be better than Merck’s Keytruda for treating NMIBC,” Dr. Uddin said.
He said the data generated to date shows that Ruvidar’s efficacy is strong and durable, with a clean safety profile for this patient population.
“If this trend continues, we believe Theralase’s Ruvidar (TLD-1433) has the potential to be better than Merck’s Keytruda and expect Ruvidar to launch in 2026,” he added.
Dr. Uddin rates Theralase as a “speculative buy” with a price target of 80 cents. The stock closed at 39 cents on Feb. 22.
