Radiopharm Theranostics Limited (ASX:RAD)

Radiopharm Theranostics Limited’s Appendix 4E Preliminary Final Report for the Australian financial year ended 30 June 2026 reports revenue from contracts with customers of A$2.77 million, down 23.8% from the prior year, and a loss after income tax of A$56.95 million, with the loss attributable to owners of the company increasing 50.3% to A$55.15 million, primarily due to substantially higher research and development spending to advance and broaden ongoing clinical studies. Net assets fell to A$22.32 million from A$42.87 million, while cash reserves declined to A$4.14 million from A$29.12 million as operating and development activities consumed cash; net tangible assets per ordinary security were negative 0.45 cents. The group stated no dividends were paid or declared, continued to operate as a single segment focused on research, development and commercialisation of health technologies, and noted that the financial statements were still under audit with audited accounts expected by the end of September 2026 and a material uncertainty relating to going concern. During the year, Radiopharm increased its ownership in Radiopharm Ventures LLC, its joint venture with The University of Texas MD Anderson Cancer Center, from 75% to 87.5%. The report also shows total assets of A$60.13 million, total liabilities of A$37.81 million, operating cash outflow of A$52.78 million, financing inflow of A$33.37 million from equity raises, significant R&D expenditure across programs including NanoMab, R&D Ventures, Diaprost and Pivalate, and a post-balance-date capital raising announced on 24 July 2026 comprising a A$12.5 million institutional offer and a A$6 million share purchase plan.