Radiopharm Theranostics Limited (RAD) AI Stock Analysis

• Market Cap: AU$70.88M
• Dividend Yield: N/A
• Average Volume (3M): 4.84M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.46
• Revenue Growth: 1114.27%
• EPS Growth: 85.66%
• Country: AU
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.01
• Shares Outstanding: 3,544,216,000
• 10 Day Avg. Volume: 4,365,338
• 30 Day Avg. Volume: 4,842,346
• PEG Ratio: 0.01
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 3.42
• P/FCF Ratio: -1.25
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.01
• Revenue Forecast (FY): AU$1.85M

• Rating: 55 Neutral
• Price Target: AU$0.02 ▲(5.00% Upside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is primarily held back by weak financial quality—large losses and significant negative free cash flow—despite improving revenue and gross margin and a debt-free balance sheet. Technical signals are modestly supportive, while valuation is constrained by negative earnings and the absence of a dividend.

Positive Factors

Revenue Growth

A pronounced FY2025 revenue inflection indicates growing commercial traction or higher trial/commercial activity, which materially improves the company's ability to scale programs. Durable top-line expansion supports longer-term R&D funding needs and reduces time to potential self-sustaining operations if sustained.

Gross Margin Improvement

A move to ~73% gross margin marks a structural improvement in unit economics versus prior negative gross profit. Higher margins provide lasting operating leverage potential as revenues scale, improving the pathway to profitability provided SG&A and R&D growth are controlled and manufacturing/supply efficiencies hold.

Low Financial Leverage

A debt-free balance sheet reduces refinancing and fixed-charge risk while the company executes clinical and commercial plans. This structural flexibility helps preserve strategic optionality, enabling funding through equity or partnerships without immediate repayment pressure that could hamper long-term R&D and manufacturing investments.

Negative Factors

Negative Free Cash Flow

Sustained negative operating and free cash flow (~-36.6M) is a durable constraint: the company will need repeated external financing or partnerships to maintain development and scale manufacturing. Persistent cash burn increases dilution risk and limits ability to self-fund commercialization absent material margin and revenue expansion.

Large Operating & Net Losses

Operating and net losses several times revenue show the business remains in heavy investment mode without operating leverage. Even with revenue growth, such structural losses consume capital and delay sustainable profitability, pressuring returns and requiring disciplined cost control to convert revenue gains into lasting profits.

Negative Returns on Equity

An ROE near -82% signals the company is eroding shareholder capital, a structural concern for long-term investors. Persistently negative returns reduce retained capital for reinvestment, increase dependence on external funding, and heighten the risk that future financing dilutes existing holders or constrains strategic options.

Radiopharm Theranostics Limited Business Overview & Revenue Model

Company Description

Radiopharm Theranostics Limited develops radiopharmaceutical products for diagnostic and therapeutic uses. The company was incorporated in 2021 and is based in Carlton, Australia.

How the Company Makes Money

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Radiopharm Theranostics Limited Financial Statement Overview

Summary

FY2025 shows a meaningful revenue inflection and a strong swing to positive gross margin (~73%), but overall fundamentals remain weak due to very large operating and net losses and substantial ongoing cash burn. Balance sheet leverage is a positive (no debt, positive equity), yet negative returns and funding reliance remain key risks.

Income Statement

Revenue accelerated sharply in FY2025 (up ~390% YoY) and gross margin turned strongly positive (~73%), a meaningful improvement versus prior years that showed deeply negative gross profit. However, profitability remains very weak: operating losses are large (EBIT about -2.6x revenue) and the company is still generating sizable net losses (net margin ~-2.7x revenue), indicating a business still in heavy investment mode with limited operating leverage to date.

Balance Sheet

The balance sheet is relatively clean from a leverage standpoint with zero debt reported from FY2022–FY2025 and positive equity in recent years (FY2025 equity ~44.8M vs. assets ~86.5M). The key weakness is returns: losses drive negative returns on equity (about -82% in FY2025), and while equity improved versus FY2024, the company’s capital base is still being consumed by ongoing losses.

Cash Flow

Cash generation remains a clear pressure point, with operating cash flow and free cash flow both materially negative in FY2025 (about -36.6M). While free cash flow improved modestly versus FY2024, cash burn remains substantial and closely tracks net losses, highlighting continued reliance on external funding over time if the burn rate persists.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	12.35M	13.40M	299.23K	292.36K	8.83K	0.00
Gross Profit	21.33M	9.81M	-21.31M	-3.00M	-2.97M	0.00
EBITDA	-43.11M	-31.65M	-45.38M	-37.11M	-18.04M	-484.75K
Net Income	-44.94M	-36.70M	-47.95M	-34.61M	-30.34M	-485.19K
Balance Sheet
Total Assets	91.17M	86.48M	72.04M	74.95M	83.38M	33.44K
Cash, Cash Equivalents and Short-Term Investments	34.52M	29.12M	18.58M	11.70M	26.98M	27.09K
Total Debt	0.00	0.00	0.00	0.00	0.00	59.00K
Total Liabilities	41.23M	43.61M	44.68M	29.37M	20.42M	158.14K
Stockholders Equity	51.78M	44.79M	28.12M	44.38M	62.96M	-124.70K
Cash Flow
Free Cash Flow	-37.10M	-36.65M	-22.98M	-24.73M	-38.25M	-32.91K
Operating Cash Flow	-37.10M	-36.65M	-22.98M	-23.20M	-9.91M	-32.91K
Investing Cash Flow	-6.54M	1.77M	0.00	-1.53M	-28.37M	0.00
Financing Cash Flow	42.26M	45.43M	29.88M	9.22M	65.11M	60.00K

Radiopharm Theranostics Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RAD, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:RAD.

Radiopharm Theranostics Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RAD	55 Neutral	AU$70.88M	-0.82	-93.08%	―	1114.27%	85.66%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CHM	45 Neutral	AU$4.42M	-0.15	2844.96%	―	―	46.28%
1AI	43 Neutral	AU$25.75M	-6.84	-49.25%	―	―	―
PTX	42 Neutral	AU$55.73M	-5.28	-62.49%	―	―	10.78%
PIQ	41 Neutral	AU$47.90M	-4.45	-93.66%	―	7.65%	-19.13%
RCE	41 Neutral	AU$138.81M	-2.84	279.21%	―	―	0.66%

Radiopharm Theranostics Limited Corporate Events

Radiopharm’s RAD101 Hits 90% Concordance in Phase 2b Brain Metastases Trial

Radiopharm Theranostics reported second interim results from its U.S. Phase 2b imaging trial of RAD101 in brain metastases, showing 90% concordance between RAD101 PET imaging and MRI in 18 of 20 evaluable patients, meeting the study’s primary endpoint. Early six‑month follow‑up and biopsy data from the first five patients also indicate a positive trend in sensitivity and specificity, reinforcing RAD101’s potential to address diagnostic limitations of conventional MRI in the growing population of patients with intracranial metastatic disease and supporting the company’s plans to progress toward a pivotal trial.

The most recent analyst rating on (AU:RAD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Radiopharm Theranostics Limited stock, see the AU:RAD Stock Forecast page.

Radiopharm Theranostics to spotlight oncology pipeline at NWR Virtual Healthcare Conference

Radiopharm Theranostics will present at the NWR Virtual Healthcare Conference, with CEO and managing director Riccardo Canevari scheduled to speak on 25 March 2026, and a recording of the session to be made available online afterward. The event offers the ASX- and Nasdaq-listed radiotherapeutics developer an additional platform to engage shareholders and potential investors as it progresses its multi-trial oncology pipeline.

The company is encouraging shareholders, investors and interested parties to register for the virtual session and submit questions either on the day or in advance through the conference organizer. Increased visibility at a sector-focused investor forum is likely to support Radiopharm’s capital markets profile and may help build interest in its differentiated radiopharmaceutical technologies targeting solid tumors.

The most recent analyst rating on (AU:RAD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Radiopharm Theranostics Limited stock, see the AU:RAD Stock Forecast page.

Radiopharm Theranostics Narrows Asset Base as Half-Year Loss Widens, Increases Stake in MD Anderson JV

Radiopharm Theranostics reported a 44% increase in its half-year loss to A$26.97 million for the six months ended 31 December 2025, with net tangible assets per share declining to 0.14 cents from 0.18 cents a year earlier. The company did not declare any dividends, while its interim financial statements received an unmodified review opinion from its independent auditor.

During the period, Radiopharm Theranostics increased its stake in Radiopharm Ventures, LLC, a joint venture with The University of Texas M.D. Anderson Cancer Center, from 75% to 87.5%. The higher ownership in this oncology-focused venture underscores the company’s strategic commitment to expanding its theranostic platform despite widening losses and the absence of shareholder distributions.

The most recent analyst rating on (AU:RAD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Radiopharm Theranostics Limited stock, see the AU:RAD Stock Forecast page.

Radiopharm Theranostics Posts Solid Cash Runway and Positive Interim Data for Lead Brain Metastases Imaging Agent

Radiopharm Theranostics reported its half-year financial results to 31 December 2025 alongside business updates, highlighting strong clinical progress across its oncology radiopharmaceutical pipeline and a solid cash position of approximately $34.52 million, which is expected to fund operations into 2027 through key clinical and regulatory milestones. Interim Phase 2b data for its lead imaging candidate RAD 101 in patients with recurrent brain metastases showed 92% MRI concordance, reinforcing earlier findings and supporting plans for a potential Phase 3 registrational study if results are confirmed, while additional Phase 1 data for therapeutic candidates RAD 202 and RAD 204 in advanced solid tumors are anticipated in mid-2026, underscoring the company’s focus on advancing multiple programs and enhancing its competitive positioning in radiotheranostics.

The most recent analyst rating on (AU:RAD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Radiopharm Theranostics Limited stock, see the AU:RAD Stock Forecast page.