Latest Radiopharm Theranostics (ASX:RAD) News

Healthcare stocks delivered a mix of capital raisings, product approvals and trial wins, but many early share price jumps did not last. The biggest moves came from Patrys, Firebrick Pharma and 4DMedical, where investors reacted fast to funding news and then kept testing how much near-term value was really on offer.

Radiopharm Theranostics (ASX: RAD) has completed enrolment in its Phase 2b RAD 101 brain metastases imaging trial with interim data showing 90% concordance with MRI, while progressing early-stage trials of therapeutic candidates RAD 202, RV-01, and RAD 402. The company reported a $19.2 million cash balance at quarter end, down from $34.5 million, with a net operating cash outflow of $14.9 million driven by milestone-related R&D and staff costs.

Radiopharm Theranostics has reported encouraging initial results from the Phase 1 HEAT trial of its novel HER2-targeted radiopharmaceutical, 177Lu-RAD202, highlighting tumor uptake and a clean safety profile at the lowest dose with dose escalation approved.

Big gains came from contracts, approvals and takeover interest, while several capital raisings and debt deals drew a cooler response. Diagnostics, radiopharma and medtech led the week, with buyers rewarding companies that showed clear sales, supply or hospital access.

Radiopharm Theranostics has finished enrolling patients in its U.S. Phase 2b trial of RAD 101 for brain metastases imaging, reporting promising interim data showing 90% concordance with MRI. The company aims to launch a pivotal Phase 3 trial following a full data readout in June 2026.

Rare earths, lithium and antimony stocks drove the week, while a handful of capital raisings and profit warnings hit hard. The biggest gains came from drilling wins and deal news. The sharpest falls came where investors faced dilution, weaker earnings or takeover friction.

Small-cap healthcare names produced the biggest share-price swings this week, while larger names advanced on sales growth, trial progress and fresh contracts. Investors rewarded companies that showed clear commercial traction, but fundraising and weak follow-through punished others.

Radiopharm Theranostics has received a positive recommendation to escalate the dose of its 177Lu-RAD202 radiotherapeutic in a Phase 1 trial targeting HER2-positive advanced solid tumors, maintaining its timeline to complete dose escalation by year-end 2026.

Radiopharm Theranostics has secured a clinical supply agreement with Siemens Healthineers to manufacture and distribute RAD101, advancing its Phase 3 trial in the U.S. Interim Phase 2b data showed 90% concordance with MRI in detecting brain metastases.

Micro-caps stole the spotlight, led by a boardroom reset at Killi and a blockbuster cancer update from Amplia. Energy explorers and a few big raisings moved the other way, as traders sold hard into fresh dilution and weak price action.

Cancer drug data and two separate Mayo Clinic-linked deals drove the biggest moves this week. Investors paid up for clearer routes to hospital rollouts, while one digital screening name fell hard after early gains evaporated.

Radiopharm Theranostics has initiated dosing in its Phase 1 clinical trial of RAD 402, a novel radiolabelled antibody targeting KLK3 in advanced prostate cancer. Early data from the trial’s initial dose levels are expected in the second half of 2026.