What is Theralase Technologies Financial Strength?
Theralase Technologies has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
Theralase Technologies Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
Theralase Technologies did not have earnings to cover the interest expense.
Theralase Technologies's debt to revenue ratio for the quarter that ended in Dec. 2023 was 0.27.
As of today, Theralase Technologies's Altman Z-Score is -14.05.
Competitive Comparison of Theralase Technologies's Financial Strength
For the Medical Devices subindustry, Theralase Technologies's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Theralase Technologies's Financial Strength Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Theralase Technologies's Financial Strength distribution charts can be found below:
* The bar in red indicates where Theralase Technologies's Financial Strength falls into.
Theralase Technologies Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Theralase Technologies's Interest Expense for the
months ended in Dec. 2023 was $-0.01 Mil. Its Operating Income for the
months ended in Dec. 2023 was $-0.75 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.22 Mil.
Theralase Technologies's Interest Coverage for the quarter that ended in Dec. 2023 is
| Theralase Technologies did not have earnings to cover the interest expense. |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Theralase Technologies's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Theralase Technologies has a Z-score of -14.05, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of -14.05 is in distress zone. This implies bankruptcy possibility in the next two years.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Theralase Technologies (Theralase Technologies) Business Description
Traded in Other Exchanges
Address
41 Hollinger Road, Toronto, ON, CAN, M4B 3G4
Theralase Technologies Inc is a clinical-stage pharmaceutical company. It is dedicated to the research and development of light-activated Photo Dynamic Compounds, their associated drug formulations, and technology platforms intended to safely and effectively; treat various cancers, bacteria, and viruses. The Cool Laser Technology division designs, develops, manufactures, and markets proprietary super-pulsed laser technology indicated and cleared by Health Canada and the FDA for the healing of chronic knee pain and when used off-label for healing numerous nerve, muscle, and joint conditions. The ACT division conducts preclinical and clinical research and development for PDCs, in the treatment of cancer, with assistance from the CLT division to develop medical lasers to activate them.
Theralase Technologies (Theralase Technologies) Headlines
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