Theralase Technologies Inc (CVE:TLT) has tempered expectations of sales revenues this year from its recently released flagship TLC-2000 non-thermal therapeutic laser device.
The therapeutic cold laser technology specialist said several factors have prevented the company from selling as many units of the device as it had anticipated.
The TLC-2000, which has been proven to be clinically effective in eliminating pain, reducing inflammation and accelerating tissue healing, was a big improvement over the company’s previous product of this kind and was expected to sell well.
As at the end of June, the group had racked up revenues of C$893,138 in 2016, up from C$677,817 in the first half of 2015, and the group traditionally does a lot more business in the fourth quarter, but the group cautioned that it does not expect to meet its ambitious sales targets this year.
The company said it had not been able to ramp up production of the TLC-2000 to commercial production levels as quickly as it had hoped, which had dampened sales.
The company, which markets the product to medical practitioners who in turn use it on patients, said that the software used in conjunction with the device had, as is usually the case with any new piece of software, required some optimisation to improve ease of use and functionality.
The company had been banking on recruiting, training and retaining an experienced sales force to sell the product, and this part of the marketing strategy has not proceeded as quickly as hoped, while the company said it had also taken longer to get as many opinion formers in the medical profession on board to eulogise about the product.
The company declined to give an update on current sales figures, saying the relevant information would be divulged in its regulatory quarterly reports.
Shares in Theralase were off 3.8% at C$0.38 in early deals.
Story by ProactiveInvestors