Company: RDPTF
Filing Date: 2025-09-18
Form Type: 20-F
Source: 0001213900-25-088699
Chunk: 26

Company: Radiopharm Theranostics Ltd
Filing Date: 2025-09-18
Form: 20-F
Item: Item 3
Chunk 26
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 or
profitability could be harmed.

Risks Relating to Ownership of the ADSs

The trading price of the ADSs may be volatile,
and purchasers of the ADSs could incur substantial losses.

The market prices of our ordinary
shares and ADSs historically have been, and we expect our ordinary shares and ADSs will continue to be, subject to significant fluctuations
over short periods of time. These fluctuations may be due to factors specific to us, to changes in analysts’ recommendations and
earnings estimates, to arbitrage between our Australian-listed ordinary shares and our Nasdaq-listed ADSs, to changes in exchange rates,
or to factors affecting the biopharmaceutical industry or the securities markets in general. Market fluctuations, as well as general political
and economic conditions, such as a recession, interest rate or currency fluctuations, could adversely affect the market price of our securities.

We may experience a material
decline in the market price of our shares, regardless of our operating performance. Therefore, a holder of our ADSs may not be able to
sell those ADSs at or above the price paid by such holder for such ADSs. Price declines in our ADSs could result from a variety of factors,
including many outside our control. These factors include:

  the results of pre-clinical testing and clinical trials by us and our competitors;  

  unforeseen safety issues or adverse side effects resulting from the clinical trials or the commercial use of our drug candidate;  

  regulatory actions in respect of any of our drug candidates or the products of any of our competitors;  

  announcements of the introduction of new products by us or our competitors;  

  market conditions, including market conditions in the pharmaceutical and biotechnology sectors;  

  increases in our costs or decreases in our revenues due to unfavorable movements in foreign currency exchange rates;  
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  developments or litigation concerning patents, licenses and other intellectual property rights;  

  litigation or public concern about the safety of our drug candidates;  

  changes in recommendations or earnings estimates by securities analysts;  
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  actual and anticipated fluctuations in our quarterly operating results;  
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  deviations in our operating results from the estimates of securities analysts;  

  rumors relating to us or our competitors;  

  additions or departures of key personnel;  

  changes in third