Radiopharm Theranostics (RAD) Q2 2026 TU earnings summary

Executive summary

• Interim Phase 2b data for RAD 101 showed 92% of evaluable brain metastases patients met the primary MRI concordance endpoint, supporting further clinical advancement.

• Multiple clinical programs advanced, including RAD 202, RAD 204, RV-01, RAD 402, and RAD 301, with key milestones expected in 2026.

• Cash and cash equivalents of $34.52 million as of 31 December 2025 provide funding runway into 2027.

Financial highlights

• Cash and cash equivalents increased to $34.52 million at 31 December 2025, up from $29.12 million at year-end.

• Net cash outflows from operating activities for the six months ended 31 December 2025 totaled $22.67 million.

• Raised approximately $35 million via private placement in October 2025.

• Net cash from financing activities for the half-year was $33.44 million.

Outlook and guidance

• Interim data from additional cohorts of RAD 202 and RAD 204 Phase 1 trials expected mid-2026.

• Enrollment for RAD 101 Phase 2b to complete in Q1 2026, with potential Phase 3 trial preparation pending confirmation of results.

• First-in-human Phase 1 trials for RV-01 and RAD 402 anticipated to begin in Q1 2026.

• RAD 301 Phase 1 trial in pancreatic cancer nearing completion, with Phase 2 trial planned.