Alpha Tau Medical (DRTS) Q1 2026 earnings summary

Executive summary

• Interim results from the U.S. REGAIN trial in recurrent glioblastoma showed 100% local disease control and a 67% complete response rate, with favorable safety as of May 3, 2026.

• Patient enrollment completed in the pivotal U.S. ReSTART trial for recurrent cutaneous squamous cell carcinoma, marking a key regulatory milestone.

• Pooled data from two pancreatic cancer trials presented at DDW 2026 demonstrated 100% local disease control and favorable safety.

• First patients treated for pancreatic cancer in Europe and Italy under new clinical protocols, expanding global clinical reach.

• FDA approved an IDE supplement to expand the IMPACT pancreatic cancer trial to include additional patient populations.

Financial highlights

• Research and development expenses rose to $11.0 million for Q1 2026 from $7.2 million in Q1 2025, driven by increased clinical activity and compensation.

• Net loss for Q1 2026 was $22.9 million ($0.26 per share), compared to $8.7 million ($0.12 per share) in Q1 2025.

• Cash, cash equivalents, short-term and restricted deposits totaled $80.2 million as of March 31, 2026, up from $76.9 million at year-end 2025.

• Financial expenses, net, were $9.6 million in Q1 2026, compared to financial income, net, of $0.7 million in Q1 2025, mainly due to warrant liability remeasurement.

Outlook and guidance

• Recruitment for the IMPACT pancreatic cancer pilot study in the U.S. expected to complete in Q3 2026, with initial data targeted for late 2026 or early 2027.

• Completion of patient recruitment in the REGAIN recurrent GBM trial anticipated in the second half of 2026, with additional data expected by year-end.

• Top-line data from the ReSTART pivotal U.S. trial in recurrent cSCC expected around the end of 2026.