Company: RDPTF
Filing Date: 2025-09-18
Form Type: 20-F
Source: 0001213900-25-088699
Chunk: 81

Company: Radiopharm Theranostics Ltd
Filing Date: 2025-09-18
Form: 20-F
Item: Item 3
Chunk 81
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 Accordingly, once we have marketed products, management does not expect that our business will be subject to seasonal influences.

Manufacturing and Raw Materials

We do not source any raw materials,
as we have no manufacturing capabilities. However, as a result, we are dependent on third parties for cost effective manufacture and manufacturing
process development of our drug candidates. Problems with third party manufacturers or the manufacturing process as such may delay or
jeopardize clinical trials and commercialization of our drug candidates.

C. Organizational Structure

Below is a list of our significant
subsidiaries, including our ownership percentage, the date of formation and the jurisdiction of each subsidiary. These subsidiaries were
established to allow us to conduct commercial and clinical operations in Europe and the United States and expand our operations in Australia.

  Subsidiary                              Ownership                    Date of      Jurisdiction  
                                                         Formation/Acquisition                    
 ──────────────────────────────────────────────────────────────────────────────────────────────────
  Radiopharm Theranostics (USA) Inc.            100                       2021      Nevada        
  Radiopharm Ventures, LLC                       75                       2022      Delaware      
  Pharma15 Corporation                          100                       2023      Delaware      

D. Property, Plants and Equipment

We own computer equipment, office furniture and
laboratory equipment, which is primarily placed at our own offices and laboratories.

  Office Location                                       Lease expiry  
  Level 3, 62 Lygon Street, Carlton, Victoria 3053      -             

Item 4a. Unresolved
Staff Comments

None.

Item 5. Operating and
Financial Review and Prospects

Overview

Radiopharm Theranostics Limited
was incorporated under the laws of Australia in February 2021. We are a clinical-stage radiotherapeutics company that focuses on the development
of radiopharmaceutical products for diagnostic and therapeutic uses in areas of high unmet medical need.

We receive tax incentives
from the Australian Government for research and development activities (R& D activities). Subject to certain exclusions, the Australian
Government tax incentive scheme provides benefits for eligible R& D activities. Under the Australian R& D tax incentive scheme,
entities are entitled to either (i) a 43.5% refundable tax offset for eligible companies with an aggregated turnover of less than
A$20.0 million per annum or (ii) a non-refundable 38.5% tax offset for all other entities with an aggregate turnover of A$20