Radiopharm Theranostics (RAD) investor relations material

Clinical pipeline and trial progress

• Six clinical-stage programs targeting brain metastases, pancreatic cancer, HER2+ and PD-L1+ solid tumors, B7-H3, and KLK3, with two diagnostics and four therapeutics in trials by December 2025.

• Phase 2b imaging study for brain metastases (RAD101) is ongoing, with 12/30 patients dosed and completion expected in Q1 2026; early data show increased metabolic activity in suspected relapses.

• Phase 1 trials for HER2+ (RAD202) and PD-L1+ (RAD204) solid tumors are enrolling, with favorable safety profiles and early signs of disease stabilization in heavily pretreated patients.

• Phase 1 imaging trial for pancreatic cancer (RAD301) is ongoing, with high sensitivity for detecting primary and metastatic lesions; 6/9 patients dosed as of October 2025.

Commercial potential and market positioning

• RAD101 is projected to reach over $500 million in annual US sales, with a peak market share of 94% by year 8, targeting a large unmet need in post-SRS brain metastasis imaging.

• No direct competitors identified for RAD101 in brain metastasis PET imaging; other pipeline assets address multi-billion dollar markets in HER2+ and PD-L1+ cancers.

• Strategic partnership with Lantheus includes a 12% equity stake and co-development agreement, with Lantheus funding clinical development costs.

Financials and capital raising

• Approximately A$40 million is being raised via a two-tranche placement and share purchase plan at A$0.03 per share, an 18.9% discount to the last close.

• Post-raise, pro forma cash balance is expected to be A$59 million, fully funding clinical programs through multiple near-term catalysts and into 2027.

• Lantheus committed to participate for US$5 million (A$7.6 million); Bell Potter, Leerink Partners, and B. Riley Securities are managing the offer.