Radiopharm Theranostics Announces Concurrent US$4.1 Million Registered Direct Offering and Up To Additional A$12.7 (US$8.9) Million Australian Placement and Share Purchase Plan
Rhea-AI Summary
Radiopharm Theranostics (Nasdaq: RADX, ASX: RAD) has entered into a Securities Purchase Agreement with certain U.S. accredited institutional investors for a registered direct offering of 1,281,646 ADSs at US$3.16 per ADS, to raise about US$4.1 million in gross proceeds. In a concurrent private placement, it will issue investors unregistered warrants for up to 1,281,646 ADSs with a US$3.79 exercise price, expiring July 31, 2029, with closing expected around July 28, 2026.
Separately, Radiopharm has received firm commitments from Australian institutional and professional investors for an Australian Placement of approximately A$6.7 million (US$4.7 million), part of which (40 million shares, A$0.6 million) is subject to shareholder approval, and plans a Share Purchase Plan of up to A$6 million (US$4.2 million) for eligible Australia and New Zealand shareholders, also subject to approval. Under the Australian Placement and Share Purchase Plan, one option (exercise price A$0.018, expiring July 31, 2029) is anticipated per new share. According to the company, proceeds are intended to fund the commencement of the RAD101 registrational study, advance multiple therapeutic programs, support partnering initiatives, and provide working capital.
Positive
- US$4.1 million gross proceeds from U.S. registered direct ADS offering
- Additional Australian Placement commitments of about A$6.7 million (US$4.7 million)
- Share Purchase Plan to raise up to A$6 million (US$4.2 million)
- Capital intended to fund RAD101 registrational study and clinical milestones
- Warrants for up to 1,281,646 ADSs and options (A$0.018) add potential future funding
Negative
- Equity offerings, warrants and options imply future share dilution for existing holders
- Portion of Australian Placement (40 million shares, A$0.6 million) requires shareholder approval
- Share Purchase Plan and associated options are subject to shareholder approval
- Offer proceeds are stated before placement agent fees and offering expenses
Market reaction after US$4.1M public offering: RADX -17.25% in the Jul 24 session
In the Jul 24 session, RADX declined 17.25%, reflecting a significant negative market reaction. Argus tracked a trough of -47.8% from its starting point during tracking. Our momentum scanner triggered 29 alerts that day, indicating elevated trading interest and price volatility. Trading volume was exceptionally heavy at 51.6x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 23 | Business update | Negative | -2.5% | Cash declined alongside reported net operating cash outflows and ongoing clinical program investment. |
| Apr 20 | Clinical trial data | Positive | +4.6% | Initial HEAT findings showed tumor uptake, tolerability, and no dose-limiting toxicities. |
| Apr 16 | Trial enrollment | Positive | -0.2% | RAD101 enrollment completed with interim MRI concordance and planned Phase 3 advancement. |
| Apr 08 | Dose escalation | Positive | +3.0% | The DSMC recommended advancing RAD202 to the 130mCi third cohort. |
| Apr 07 | Supply agreement | Positive | -1.6% | Siemens Healthineers signed a U.S. supply agreement supporting upcoming RAD101 trials. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Three of the five selected prior news events had directionally aligned reactions, while two positive clinical or supply announcements diverged with negative or near-flat reactions.
Key Terms
registered direct offering financial
private placement financial
shelf registration statement regulatory
form f-3 regulatory
regulation d regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK and SYDNEY, July 24, 2026 (GLOBE NEWSWIRE) -- Radiopharm Theranostics Limited (ASX: RAD, Nasdaq: RADX, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, today announces that it has entered into a Securities Purchase Agreement (“SPA”) with certain U.S. accredited institutional investors to issue, in a registered direct offering, 1,281,646 American Depositary Shares (“ADSs”), representing 384,493,800 ordinary shares (with each ADS representing 300 ordinary shares) of the Company, at an offering price of US
In a concurrent private placement and pursuant to the terms of the SPA, the Company has agreed to issue to the investors unregistered warrants to purchase up to 1,281,646 ADSs. The warrants will be exercisable on or after the effective date of shareholder approval of the issuance of the ordinary shares represented by ADSs issuable upon exercise of the warrants, will have an exercise price of US
The offering is expected to close on or about July 28, 2026, New York Time, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive U.S. placement agent for the offering.
The ADSs offered in the registered direct offering (but not the warrants issued in the private placement or the ADSs underlying such warrants) are being offered by the Company pursuant to a “shelf” registration statement on Form F-3 (File No. 333-292178) that was filed with the Securities and Exchange Commission (“SEC”) on December 16, 2025, and became effective on December 23, 2025. The registered direct offering of the ADSs representing ordinary shares is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained, when available, at the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or by email at placements@hcwco.com.
The warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Regulation D promulgated thereunder and, along with the ADSs representing ordinary shares underlying the warrants, have not been registered under the Securities Act, or applicable U.S. state securities laws. Accordingly, the warrants and underlying ADSs representing ordinary shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
In addition to the registered direct offering of ADSs and private placement of warrants in the United States, the Company has received firm commitments from Australian institutional and professional investors in a private placement for approximately A
The Company will also make a Share Purchase Plan available to shareholders with registered addresses in Australia and New Zealand to raise up to an additional A
Under the Australian Placement and the Share Purchase Plan, subscribers and eligible shareholders are anticipated to receive one option for every one new ordinary share subscribed for. The options will have an exercise price of A
The Company expects to seek all approvals from shareholders at an extraordinary general meeting to be held on or about Friday, September 11, 2026.
The Company currently intends to use the funds raised from the offers of securities described above to support the commencement of the RAD101 registrational study, the progression of multiple therapeutic programs through key clinical milestones, ongoing strategic partnering initiatives, and working capital and other general corporate purposes.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities described herein, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities to be issued under the Australian Placement and Share Purchase Plan have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws. Shareholders in the United States may not participate in the Share Purchase Plan.
All references to “A$” are to Australian dollars and all references to “US$” are to U.S. dollars.
For more information:
Riccardo Canevari
CEO & Managing Director
P: +1 862 309 0293
E: rc@radiopharmtheranostics.com
Anne Marie Fields
Precision AQ (Formerly Stern IR)
E: annemarie.fields@precisionaq.com
Media
Matt Wright
NWR Communications
P: +61 451 896 420
E: matt@nwrcommunications.com.au
About Radiopharm Theranostics
Radiopharm Theranostics is a clinical-stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm is listed on the ASX (RAD) and Nasdaq (RADX). The company has a pipeline of distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer. The clinical program includes one Phase 2 and five Phase 1 trials in a variety of solid tumor cancers, including lung, breast, and brain metastases. Learn more at radiopharmtheranostics.com
Safe Harbor Statement:
This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934, including, without limitation, statements by the Company relating to the completion of the offering, the Australian Placement and the Share Purchase Plan, the satisfaction of customary closing conditions related to the offering, the receipt of shareholder approval and the intended use of proceeds from the offering. Any forward-looking statements that may be in this press release are subject to risks and uncertainties relating to market and other conditions, the difficulties in Radiopharm’s plans to develop and commercialize its product candidates, the timing of the initiation and completion of preclinical and clinical trials, the timing of patient enrollment and dosing in clinical trials, the timing of expected regulatory filings, the intellectual property position and the ability to procure additional sources of financing. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.
