Theralase® Technologies Inc.

Climate Impact & Sustainability Data (2020-01 to 2020-06, 2020-01 to 2020-09, 2021-03-31)

COVID-19 pandemic causing personnel unavailability, remote work, and delays/cancellations in customer purchasing decisions.
Decreased sales due to the COVID-19 pandemic.
Limited operating history and uncertainty of product success and market acceptance.
Inconsistent profitability and need for additional capital.
Intense competition and reliance on key personnel.
Protection of intellectual property.
Implementation delays in product introduction.
Dependence on third-party suppliers.
Volatility of share price.
Regulatory approvals and potential changes in regulations.
Early stage of product development and uncertainty of regulatory approval and commercial viability.
Reliance on third parties for preclinical and clinical development activities.
Clinical study risks, including lack of efficacy or unacceptable safety profiles.
Clinical study timing delays due to various factors.
Challenges in patient enrollment for clinical studies.
Failure to achieve milestones as planned.
Currency risk due to US dollar-denominated cash, receivables, and payables.
Credit risk from accounts receivable.
Product liability and clinical trial liability risks.
Patent-related rights of the U.S. government in PDT technology.

Actions to reduce expenses by eliminating non-essential personnel and imposing a temporary hiring freeze.
Restructuring of Canadian and US sales and marketing departments.
Reduced travel expenditures due to the COVID-19 pandemic.
Decreased spending on general and administrative expenses and administrative salaries.
Raising capital through equity offerings (2018 and 2019).
Developing sales opportunities.
Maintaining a sufficient capital base to support future research, development, and strategic business initiatives.
Securing strategic alliances and licenses.
Entering into confidentiality agreements with collaborators.
Obtaining product liability and clinical trial liability insurance coverage.
Limiting exposure to foreign currency risk by holding US dollar cash to cover forecasted expenditures.
Adopting credit policies to minimize credit risk.
Regular review of trade receivable accounts and adjustment of allowance for doubtful accounts.

COVID-19 pandemic causing personnel unavailability, remote work, and delays/cancellations in customer purchasing decisions.
Limited operating history and uncertainty of product success and market acceptance.
Inconsistent profitability and need for additional financing.
Intense competition with larger companies.
Implementation delays in product introduction.
Dependence on third-party suppliers.
Volatility of share price.
Regulatory approval requirements.
Early stage of product development.
Reliance on third parties for preclinical and clinical development.
Challenges in patient enrollment for clinical studies.
Potential for clinical study delays.
Currency risk due to US dollar-denominated transactions.
Credit risk from accounts receivable.
Limited product liability and clinical trial liability insurance coverage.
US government rights in some patented PDT technology.

Reduced expenses by eliminating non-essential personnel and imposing a temporary hiring freeze.
Successfully raised capital through equity offerings in 2018 and 2019.
Developing sales opportunities.
Maintaining a sufficient capital base to support future initiatives.
Establishing strategic alliances and working relationships.
Protecting intellectual property through patents, trade secrets, and agreements.
Limiting exposure to foreign currency risk by holding US dollar cash to cover forecasted expenditures.
Adopting credit policies to minimize credit risk.
Obtaining product liability and clinical trial liability insurance coverage.

Short-term Goals:

Enroll and provide primary Study Treatment for up to 6 additional patients in 2Q2021 for a total of 20 to 25 patients enrolled and treated in Study II to submit interim data to the FDA for consideration of Breakthrough Designation (“BTD”) approval.

COVID-19 pandemic causing reduction/unavailability of personnel, remote work, delays in clinical research, and delays/cancellations in customer purchasing decisions.
Delays in patient enrollment and treatment rates in the Phase II NMIBC clinical study due to the COVID-19 pandemic.
Limited operating history and the need to raise additional capital.

Actions to reduce expenses by eliminating non-essential personnel and imposing a temporary hiring freeze.
Restructuring of Canadian and US sales and marketing departments.
Decreased spending on director and advisory fees and administrative salaries.
Successfully raised capital through previous equity offerings.