Shares in Theralase Technologies Inc (CVE:TLT, OTCMKTS:TLTFF) advanced as the market learned more good news about its lead cancer compound TLD-1433.
It has been proven to be effective against cervical cancer. It comes after last month the light activated photo dynamic compound (PDC) was shown to destroy certain lung cancers.
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Roger Dumoulin-White, the president and chief executive of Theralase, noted that the group's licenced PDCs have proven to be very strong anti-cancer drugs in initial clinical studies for NMIBC (Non-Muscle Invasive Bladder Cancer) and preclinically for glioblastoma, lung and now cervical cancer.
"We look forward to successfully expanding the oncological application of our platform of PDCs and the laser light systems that activate them, as we expand clinically into these new oncology targets," he said.
In Theralase research it has been demonstrated that cervical cancer cells (ME180) were up to 96% destroyed, at an extremely low dose of TLD-1433 when activated by green laser light.
Figures from the American Cancer Society suggest about 12,820 new cases of invasive cervical cancer will be diagnosed in 2017 and around 4,210 women will die from the disease.
"The research data collected strongly suggests that TLD-1433 would be effective in the destruction of cervical cancer with high safety margins," said Theralase research scientist Dr Pavel Kaspler.
"I look forward to continuing my research in this promising new cancer indication."
Shares in Toronto rose 4.3% on Tuesday to C$0.485.