The extreme dilution (shares outstanding ballooning to 4.34B) and low issue price signal severe capital urgency. Monitor for further price erosion as the market absorbs the new shares and for updates on the remaining tranches and clinical milestones for RAD101.
Price Chart
Executive Summary
Radiopharm Theranostics filed a 6-K to report the quotation of 408,839,531 ordinary shares on the ASX at AUD 0.015 per share as Tranche 1 of its Australian Placement, following the July 24 announcement. This confirms massive dilution—total quoted shares rise to 4.34 billion—and comes on the heels of a US registered direct offering at a 26% discount, underscoring urgent capital needs for a pre-revenue biotech.
Key Facts
- 408,839,531 ordinary shares issued at AUD 0.015 per share as Tranche 1 of the Australian Placement
- Total quoted ordinary shares post-issuance: 4,337,549,491
- Further pending issues include 40,000,000 ordinary shares, 448,839,531 options, and 1,345,728 warrants
- Combined with the July 27 US offering (~$4.05M) and other Australian tranches, total capital raise exceeds ~$10M USD
- Proceeds earmarked for clinical development including a registrational Phase 3 study for RAD101
Financial Impact
Tranche 1 raises approximately A$6.13M (AUD 0.015 × 408.8M shares); combined with US offering and other tranches, total gross proceeds ~$10M+ USD for a ~$45M market cap company
Risk Factors
- Further dilution from pending share and warrant issuances (40M shares, 1.3M+ warrants)
- Pre-revenue status with no approved products; clinical trial failure risk
- Potential need for additional capital beyond current raise
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-084255 |
| Document: ea0300222-6k_radiopharm.htm | 0001213900-26-084255 |
| Document: 0001213900-26-084255-index-headers.html | 0001213900-26-084255 |
| Document: 0001213900-26-084255-index.html | 0001213900-26-084255 |
| Document: 0001213900-26-084255.txt | 0001213900-26-084255 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 6-K | — | awaiting T+5 | — | — |
Oct 20, 2026 6d ago | 6-K | $0.9900 | awaiting T+5 | — | $0.9960 (+0.61%) |
Oct 14, 2026 11d ago | SC 13G | $1.08 $0.9500 | ▼ −12.04% | ▼ −11.02% | $0.9960 (−7.78%) |
Oct 5, 2026 21d ago | 6-K | $1.27 $1.11 | ▼ −12.60% | ▼ −13.02% | $0.9960 (−21.57%) |
Oct 1, 2026 25d ago | 6-K | $1.48 $1.11 | ▼ −25.00% | ▼ −26.30% | $0.9960 (−32.70%) |
Sep 30, 2026 26d ago | 6-K | $1.62 $1.15 | ▼ −29.01% | ▼ −30.93% | $0.9960 (−38.52%) |
Sep 24, 2026 4w ago | EFFECT | $1.57 $1.48 | ▲ +5.85% | ▲ +5.43% | $0.9960 (+36.64%) |
Sep 22, 2026 4w ago | 6-K | $1.65 $1.52 | ▼ −7.88% | ▼ −6.69% | $0.9960 (−39.64%) |
Sep 14, 2026 6w ago | 6-K | $2.01 $1.61 | ▼ −19.90% | ▼ −20.01% | $0.9960 (−50.45%) |
Sep 11, 2026 6w ago | 6-K | $1.98 $1.65 | ▼ −16.67% | ▼ −16.45% | $0.9960 (−49.70%) |
US Market Status
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