Radiopharm Theranostics (RADX) stock rocketed higher on Monday after the radiopharmaceutical company announced results from its Phase 2b clinical imaging trial of RAD 101. This trial tested the effectiveness of RAD 101 as an imaging method for brain metastases. These are forms of cancer that spread to the brain from other primary cancers, such as lung, breast, or melanoma.
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Radiopharm Theranostics noted that an interim analysis of the Phase 2b study saw 92% of patients, or 11 of the 12 evaluated with RAD 101, achieve concordance with MRI, the primary endpoint of the study. This resulted in significant and selective tumor uptake in the brain metastases, while imaging confirmed metabolic activity in brain metastases compared to equivocal MRI findings.
Riccardo Canevari, CEO and Managing Director of Radiopharm Theranostics, said, “Integrating RAD 101 PET (Pivalate) with standard MRI has the potential to transform patient management and enable better treatment decisions for the more than 300,000 patients in the U.S. diagnosed with brain metastases each year. Independent commercial assessments estimate RAD 101’s U.S. market opportunity at more than $500 million annually, positioning it to become one of the top three imaging agents in the market.”
Radiopharm Theranostics Stock Movement Today
Radiopharm Theranostics stock was up 292.72% in pre-market trading on Monday, following a slight dip on Friday. The stock has decreased 5.12% year-to-date and 10.69% over the past 12 months.
Radiopharm Theranostics stock experienced heavy trading on today’s clinical trial news. This saw more than 5 million shares change hands, compared to a three-month daily average trading volume of about 16,000 units.
Is Radiopharm Theranostics Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Radiopharm Theranostics is Strong Buy, based on three Buy ratings over the past three months. With that comes an average RADX stock price target of $18.33, representing a potential 330.33% upside for the shares.
