Alpha Tau Medical Reports Q3 2024 Financial Results

Alpha Tau Medical Ltd ( (DRTS) ) has released its Q3 earnings. Here is a breakdown of the information Alpha Tau Medical Ltd presented to its investors.

Alpha Tau Medical Ltd., an Israeli oncology therapeutics company, specializes in the development and potential commercialization of its innovative alpha-radiation cancer therapy, Alpha DaRT, for the treatment of solid tumors. In its third-quarter financial update for 2024, Alpha Tau Medical highlighted significant advancements in its clinical trials, including acceptance into the FDA’s Total Product Life Cycle Advisory Program to expedite the market access of Alpha DaRT for treating recurrent glioblastoma multiforme. Additionally, the company has commenced a study on recurrent lung cancer in Israel and received FDA approval for a multi-center study targeting recurrent cutaneous squamous cell carcinoma in immunocompromised patients in the United States. The company’s financial report for the nine months ending September 30, 2024, revealed research and development expenses of $19.5 million, a slight increase from the previous year. Marketing expenses rose to $1.7 million, while general and administrative costs decreased to $4.6 million. The net loss for the period was $22.3 million, compared to $21.8 million in 2023. Alpha Tau ended the period with $68.4 million in cash, sufficient to support operations for at least two years. Looking ahead, Alpha Tau Medical anticipates key milestones in 2025, including responses from regulatory bodies in Japan for pre-market approval and the release of trial data from pancreatic cancer studies. The company remains focused on expanding its treatment capabilities and advancing its clinical pipeline to realize the full potential of its Alpha DaRT technology.