Lantheus Boosts Stake to 12.16% in Radiopharm with $8M Placement Amid Clinical Progress
Radiopharm Theranostics has bolstered its cash position with an $8 million placement from Lantheus Holdings, now its largest shareholder. New clinical data highlight promising advances in brain metastases detection and HER2-targeted radiopharmaceutical therapies.
- Lantheus Holdings increases stake to 12.16% via $8M placement
- RAD 101 shows effective detection of brain metastases using PET-mpMRI
- RAD202 demonstrates strong tumor targeting and therapeutic potential in preclinical studies
- Cash position improved to $36.86 million, supporting clinical pipeline through June 2026
- Active participation in major US healthcare and investor conferences
Strategic Investment Strengthens Radiopharm’s Financial Position
Radiopharm Theranostics (ASX: RAD) has secured a significant financial boost with a US$5 million (A$8 million) private placement to Lantheus Holdings Inc., increasing Lantheus’ shareholding to 12.16% and making it Radiopharm’s largest shareholder. This placement, completed at a 150% premium to the last traded price, replaces earlier options and was executed under existing ASX placement capacity.
The capital injection is earmarked to advance Radiopharm’s clinical pipeline, which currently includes one Phase II and three Phase I trials targeting solid tumors such as brain, lung, breast, and pancreas cancers. The strengthened cash position, now at $36.86 million, extends the company’s runway through to June 2026, underpinning ongoing research and development activities.
RAD 101: A New Frontier in Brain Metastases Imaging
The results, published in the European Journal of Nuclear Medicine and Molecular Imaging, showed RAD 101’s high tumor-to-background signal ratio, enabling sensitive and specific detection of brain metastases. This metabolic imaging approach targets fatty acid metabolism, a pathway upregulated in many solid tumors, offering a potential improvement over conventional contrast-enhanced MRI, which often struggles to distinguish active disease from treatment effects.
RAD202 Advances HER2-Targeted Diagnostic and Therapeutic Potential
Complementing RAD 101’s progress, Radiopharm presented new preclinical data on RAD202 at the European Molecular Imaging Meeting (EMIM 2025). The HER2-targeting radiopharmaceutical showed strong and specific tumor accumulation with favorable biodistribution, exhibiting low off-target uptake except in expected renal clearance organs.
Therapeutic studies with ¹⁷⁷Lu-RAD202 revealed significant tumor volume reduction and survival extension in preclinical models, with fractionated dosing regimens outperforming single-dose administration. These findings support the ongoing Phase 1 dose-escalation trial in Australia, assessing safety and preliminary efficacy in patients with advanced HER2-positive solid tumors, particularly those resistant or intolerant to current therapies.
Engagement with Global Healthcare Investors
Radiopharm’s executive team actively engaged with the investment community during the quarter, participating in prominent US healthcare conferences including the JP Morgan 43rd Annual Healthcare Conference, B. Riley Securities Precision Oncology & Radiopharma Investor Conference, TD Cowen 45th Annual Healthcare Conference, and Leerink Partners Global Healthcare Conference. These forums provided platforms to showcase Radiopharm’s clinical progress and strategic vision to institutional investors and industry leaders.
Financial Overview and Outlook
The company reported net operating cash outflows of $7.43 million for the quarter, primarily driven by research and development and staff costs. Financing inflows of $8.07 million from the Lantheus placement offset these outflows, resulting in a slight increase in cash reserves. Radiopharm’s management confirms that the current cash position supports clinical development activities through mid-2026, maintaining alignment with previous guidance.
Bottom Line?
Radiopharm’s strengthened financial footing and promising clinical data position it well for upcoming milestones in targeted cancer imaging and therapy.
Questions in the middle?
- How will Lantheus’ increased stake influence Radiopharm’s strategic direction and partnerships?
- What are the timelines and expected readouts for the ongoing Phase II and Phase I clinical trials?
- Can RAD202’s preclinical therapeutic promise translate into meaningful clinical benefits in HER2-positive cancers?
