Radiopharm Theranostics (ASX:RAD) Announces Q4 2024 Results
Key Approvals and Partnerships
Radiopharm Theranostics Limited (ASX:RAD) announced during the quarter ending December 31, 2024, that it received ethics approval to commence a Phase 1 therapeutic trial of RAD202 targeting HER2-positive cancers. This trial will evaluate RAD202’s safety, tolerability, and clinical activity across multiple sites in Australia.
The company also received ethics approval to expand the RAD204 trial, now aiming to include five additional cancer types. This trial will assess the efficacy of RAD204, a novel radiotherapeutic targeting PD-L1, in patients with advanced cancers.
Moreover, Radiopharm secured IND approval for the RAD101 Phase 2b imaging trial in partnership with BAMF Health. This trial focuses on assessing imaging performance in patients with brain metastases.
Financial Position and Share Placement
As of the end of the quarter, Radiopharm reported a cash balance of $36.47 million, down from $46.46 million in the previous quarter. The cash outflow largely reflects research and development expenditure.
Following the quarter, the company completed an A$8 million share placement with Lantheus, which now holds a 12.16% stake in Radiopharm. This placement aims to extend the company’s cash runway and fund ongoing development activities.
Future Outlook and Additional Initiatives
Radiopharm has plans to advance clinical programs with upcoming human trials for RAD402, targeting advanced prostate cancer, set for H2 2025. Additionally, the company has partnered with AtomVie to develop a new radiopharmaceutical targeting B7-H3, with aims for a Phase I/II trial in the US by mid-2025.
The company achieved a Nasdaq listing for its American Depositary Shares (RADX), which is expected to enhance visibility among international investors.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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