Company: RDPTF
Filing Date: 2025-09-18
Form Type: 20-F
Source: 0001213900-25-088699
Chunk: 5

Company: Radiopharm Theranostics Ltd
Filing Date: 2025-09-18
Form: 20-F
Item: Item 3
Chunk 5
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 currently have no source of product revenue and may never
become profitable.

Our drug candidates have not
been approved for commercial sale. We expect it to be several years before they are approved, if ever, and we are able to commence sales
of our drug candidates. To date, we have not generated any revenue from the licensing or commercialization of our drug candidates and
do not expect to receive revenue from them for a number of years, if ever. We will not be able to generate product revenue unless and
until our current drug candidates or any future drug candidates, alone or with future partners, successfully completes clinical trials,
receives regulatory approval and is successfully commercialized. Although we may seek to obtain revenue from collaboration or licensing
agreements with third parties, we currently have no such agreements that could provide us with material, ongoing future revenue and we
may never enter into any such agreements.

We will require additional financing and may be unable to raise
sufficient capital, which could have a material impact on our research and development programs or commercialization of our drug candidates.

We have historically devoted
most of our financial resources to research and development, including pre-clinical and clinical development activities. To date, we have
financed a significant amount of our operations through equity financings. The amount of our future net losses will depend, in part, on
the rate of our future expenditures and our ability to obtain funding through equity or debt financings or strategic collaborations. The
amount of such future net losses, as well as the possibility of future profitability, will also depend on our success in developing and
commercializing products that generate significant revenue. Our failure to become and remain profitable would depress the value of our
ADSs and could impair our ability to raise capital, expand our business, maintain our research and development efforts, diversify our
product offerings or even continue our operations.

We anticipate that our expenses will increase substantially
for the foreseeable future if, and as, we:

  continue our research and preclinical and clinical development of our drug candidates;  

  expand the scope of our current proposed clinical studies for our drug candidates;  

  initiate additional preclinical, clinical or other studies for our drug candidates;  

  change or add additional manufacturers or suppliers;  
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  seek regulatory and marketing approvals for our drug candidates that successfully complete clinical studies;  

  seek to identify and validate additional drug candidates;  

  acquire or in-license other drug candidates and technologies;