RadioPharm Theranostics

About

Radiopharm Theranostics develops diagnostic and therapeutic radiopharmaceuticals and advances preclinical TROP2 nanobody and LRRC15 monoclonal antibody programs through development, manufacturing, and partner collaborations.

Mission

Radiopharm Theranostics Limited (RRAD) develops diagnostic and therapeutic radiopharmaceutical products. The company entered strategic agreements with Lantheus under which Lantheus will make an initial A$7.5 million equity investment and has an option to invest a further A$7.5 million within six months on the same terms. Radiopharm will also assign and sub-license two early preclinical assets (a TROP2-targeting nanobody and an LRRC15-targeting monoclonal antibody) to Lantheus for A$3.0 million under a separate transfer and development agreement. Net proceeds are intended for drug manufacturing, clinical trials and general working capital. The subscription contemplates shares issued at A$0.05 per share (a 47% premium to the 19 June 2024 close), unlisted six-month options to invest the additional A$7.5 million, and placement options exercisable at A$0.06; certain issued shares and shares issued on exercise will be subject to 12-month escrow. Radiopharm’s US affiliate, Radiopharm Theranostics (USA), Inc. is a party to the asset transfer, and B. Riley Securities acted as financial advisor to the company on the transactions. Radiopharm announced receipt of a $1.9 million advance on its FY24 research and development (R&D) tax incentive. The announcement was released on 20 February 2024 and appears under the company's latest announcements. The release includes an Investor Q&As section inviting questions that will be visible to everyone. The notice specifically identifies the payment as an advance on the FY24 R&D tax incentive. No other financial details, operating metrics, use of proceeds, or investor information are disclosed in the announcement.

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