Company: RDPTF
Filing Date: 2025-09-18
Form Type: 20-F
Source: 0001213900-25-088699
Chunk: 87

Company: Radiopharm Theranostics Ltd
Filing Date: 2025-09-18
Form: 20-F
Item: Item 3
Chunk 87
---
 operations is
a forward-looking statement that involves risks and uncertainties, and actual results could vary materially depending on capital raising
and expense management.

We anticipate that we will
require substantial additional funds in order to achieve our long-term goals and complete the research and development of our current
drug candidates. We do not expect to generate significant revenue until we obtain regulatory approval to market and sell our drug candidate
and sales of our drug candidate have commenced. We therefore expect to continue to incur substantial losses in the near future.

We could incur liabilities that are contingent upon future events as set forth in various license agreements
under which we have licensed technology. Such contingent liabilities include development milestone payments and royalties on net sales.
It is uncertain whether milestones will be met due to factors beyond our control and we will not owe any royalties until we
earn income from the relevant licensed technology. For further information on our contingent liabilities, please see Note 13 to our fiscal
2025 audited financial statements in this Annual Report.

Our future capital requirements are difficult to
forecast and will depend on many factors, including:

  the scope, results and timing of preclinical studies and clinical trials;  

  the amount and timing of milestone payments under license agreements;  

  the costs and timing of regulatory approvals; and  

  the costs of establishing sales, marketing and distribution capabilities.  

Cash Flows

Comparison of cash flows for the fiscal year ended June 30, 2025,
with June 30, 2024

The following table summarizes our cash flows for
the periods presented:

                                                 Year ended June 30,                                              
                                                 2025                                      2024                   
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                 A$                                        A$                     
  Net cash used in operating activities                                   (36,645,477                (22,975,935  
  Net cash used in investing activities                                     1,770,598                   (320,000  
  Net cash provided by financing activities                                45,431,548                 30,196,945  

Operating Activities

Net cash used in operating
activities increased from A$22,975,935 in fiscal 2024 to A$36,645,477 in fiscal 2025, due to an increase in the payments to suppliers
and employees in connection with our clinical trial activities (from A$28,138,720 to A$42,799,759), and a decrease from cash received
from research and development tax incentives (from