Radiopharm Theranostics (RAD) H2 2026 earnings summary

Executive summary

• Clinical-stage radiotherapeutics company focused on developing radiopharmaceutical products for diagnostic and therapeutic uses in oncology, with a pipeline spanning peptides, small molecules, and antibodies targeting high unmet medical needs.

• No products approved for commercial sale; revenue is primarily from R&D tax incentives and strategic development services contracts.

• Significant partnerships and licensing agreements with leading institutions, including MD Anderson, NanoMab, TRIMT, Diaprost, and Cancer Research Technology.

• Listed on both ASX (RAD) and Nasdaq (RADX); major shareholders include Lantheus Omega and Regal Funds Management.

Financial highlights

• Fiscal year ended June 30, 2026: revenue from contracts with customers was A$2.77 million, down from A$3.63 million in 2025.

• Total comprehensive loss increased to A$56.33 million from A$37.88 million in 2025, mainly due to higher R&D expenses.

• R&D expenses rose to A$49.96 million (2025: A$27.52 million); general and administrative expenses were A$16.22 million (2025: A$14.64 million).

• Cash and cash equivalents at June 30, 2026: A$4.14 million (2025: A$29.12 million).

• Net cash used in operating activities: A$52.78 million (2025: A$36.65 million).

• Accumulated losses as of June 30, 2026: A$199.66 million.

Outlook and guidance

• Management expects continued operating losses and negative cash flows as R&D activities expand.

• Current cash is expected to fund operations through fiscal 2027, but additional capital will be required for long-term goals.

• Ongoing capital raising efforts include an At the Market (ATM) facility and recent institutional placements.

• Directors believe the company can meet obligations for at least the next 12 months, but material uncertainty exists regarding going concern due to reliance on future funding.