Radiopharm Theranostics Limited

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Half Year Report and Appendix 4D 31 December 2025

27 February 2026

Radiopharm Theranostics reported a net loss of $28.2M for HY1 FY2026 (half-year ended 31 December 2025), up 44% from $19.6M in the prior corresponding period, driven primarily by increased R&D expenditure across its expanding clinical pipeline. The company completed a $35M institutional placement during the period, ending with cash reserves of $34.5M and a funding runway extended into 2027. No revenue-generating products are yet approved; however, multiple pipeline candidates (RAD 101, RAD 202, RAD 204, RV-01, RAD 402) are progressing through Phase 1 and Phase 2 clinical trials with several key data readouts expected in 2026. Key points: Successful $35M institutional placement completed in October 2025, extending funding runway into 2027 and past key clinical milestones; RAD 101 (brain metastases imaging): 92% concordance with MRI in interim Phase 2b data from first 12 patients, meeting primary endpoint; Phase 3 registrational study preparation underway given FDA Fast Track designation; RAD 204 (PD-L1 radiotherapeutic): Two of three evaluable NSCLC patients achieved stable disease for 5.5 months vs ~3.5 months historical standard of care; dose escalation progressing to 90mCi cohort