Full Press Release Details
Tau Announces Full Year 2025 Financial Results and
Provides Corporate Update
- Tremendous activity in recent months, including
receipt of Japanese marketing approval, the
fifth parallel U.S. trial approval, data from pancreatic cancer trials presented at ASCO GI
Symposium, and the first brain cancer treatment -
- Multiple meaningful milestones targeted in
the coming months, including completion of patient
recruitment in the U.S. pivotal ReSTART skin cancer trial, in the U.S. pilot IMPACT
cancer trial, and in the U.S. recurrent glioblastoma multiforme feasibility trial -
- $76.9 million in cash, cash equivalents &
deposits provides continued balance sheet strength
for clinical advancement and commercial preparation -
JERUSALEM, March 9, 2026 -- Alpha
Tau Medical Ltd. ("Alpha Tau", or the "Company") (NASDAQ: DRTS, DRTSW), the developer of the innovative alpha-radiation
cancer therapy Alpha DaRT , reported full year 2025 financial results and provided a corporate update.
"The pace of progress at Alpha Tau today
is unlike anything we've ever seen before," said Alpha Tau Chief Executive Officer Uzi Sofer. "With a slew of meaningful
announcements in the past few months, culminating most recently with our receipt of marketing approval in Japan, our first outside of
Israel, and with multiple meaningful milestones targeted for the coming months, we remain laser focused on execution. Clinical trial progress
remains our highest priority, with an astounding five clinical trials approved in parallel in the U.S. At the same time, we continue to
build out our manufacturing capabilities in New Hampshire as well as our pre-commercial preparations, while entertaining multiple tracks
of strategic dialogue with partners who show increasing excitement about the ever-expanding prospects for Alpha DaRT."
Recent Corporate Highlights:
Expected Upcoming Milestone Targets:
Financial results for year ended December 31,
R&D expenses for the year ended December 31,
2025 were $32.1 million, compared to $27.0 million for the same period in 2024, due to increased employee compensation and benefits, increased
costs of raw materials, and increased third-party contractor expenses (including clinical trial sites).
Marketing expenses for the year ended December
31, 2025 were $1.9 million, compared to $2.3 million for the same period in 2024, due to decreased compensation expenses and travel abroad.
G&A expenses for the year ended December 31,
2025 were $8.4 million, compared to $6.7 million for the same period in 2024, primarily due to increased employee compensation and benefits,
including share-based compensation, and increased professional fees (including legal and IR expenses).
Financial expense, net, for the year ended December
31, 2025 was $0.2 million, compared to $4.3 million financial income, net, for the same period in 2024, due to a decrease in income from
remeasurement of warrants and in interest from bank deposits as well as increased expense from changes in foreign exchange rates.
For the year ended December 31, 2025, the Company
had a net loss of $42.6 million, or $0.53 per share, compared to a net loss of $31.8 million, or $0.45 per share, in the year ending December
Balance Sheet Highlights
As of December 31, 2025, the Company had cash
and cash equivalents, short-term deposits and restricted deposits of $76.9 million, compared to $62.9 million at December 31, 2024.
Annual Report Availability
Alpha Tau's Annual Report on Form 20-F for
the fiscal year ended December 31, 2025, has been filed today with the Securities and Exchange Commission. The Annual Report on Form 20-F
can be accessed on the Investor Relations section of Alpha Tau's website at https://www.alphatau.com and on the SEC's website
Alpha DaRT (Diffusing Alpha-emitters
Radiation Therapy) is designed to enable highly potent and conformal alpha-irradiation of solid tumors by intratumoral delivery of radium-224
impregnated sources. When the radium decays, its short-lived daughters are released from the sources and disperse while emitting high-energy
alpha particles with the goal of destroying the tumor. Since the alpha-emitting atoms diffuse only a short distance, Alpha DaRT aims to
mainly affect the tumor, and to spare the healthy tissue around it.
About Alpha Tau Medical Ltd.
Founded in 2016, Alpha Tau is an Israeli oncology
therapeutics company that focuses on research, development, and potential commercialization of the Alpha DaRT for the treatment of solid
tumors. The technology was initially developed by Prof. Itzhak Kelson and Prof. Yona Keisari from Tel Aviv University.
Forward-Looking Statements
press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of
1995. When used herein, words including "anticipate," "being," "will," "plan," "may,"
"continue," and similar expressions are intended to identify forward-looking statements. In addition, any statements or information
that refer to expectations, beliefs, plans, including with respect to clinical trials, regulatory approvals and studies, the NH facility
and its manufacturing capabilities, study recruitment, the post-market surveillance study, potential partnerships, projections,
objectives, performance, , including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Alpha
Tau's current expectations and various assumptions. Alpha Tau believes there is a reasonable basis for its expectations and beliefs,
but they are inherently uncertain. Alpha Tau may not realize its expectations, and its beliefs may not prove correct. Actual results could
differ materially from those described or implied by such forward-looking statements as a result of various important factors, including,
without limitation: (i) Alpha Tau's ability to receive regulatory approval for its Alpha DaRT technology or any future products
or product candidates; (ii) Alpha Tau's limited operating history; (iii) Alpha Tau's incurrence of significant losses to date;
(iv) Alpha Tau's need for additional funding and ability to raise capital when needed; (v) Alpha Tau's limited experience
in medical device discovery and development; (vi) Alpha Tau's dependence on the success and commercialization of the Alpha DaRT
technology; (vii) the failure of preliminary data from Alpha Tau's clinical studies to predict final study results; (viii) failure
of Alpha Tau's early clinical studies or preclinical studies to predict future clinical studies; (ix) Alpha Tau's ability
to enroll patients in its clinical trials; (x) undesirable side effects caused by Alpha Tau's Alpha DaRT technology or any future
products or product candidates; (xi) Alpha Tau's exposure to patent infringement lawsuits; (xii) Alpha Tau's ability to comply
with the extensive regulations applicable to it; (xiii) the ability to meet Nasdaq's listing standards; (xiv) costs related to being
a public company; (xv) changes in applicable laws or regulations; and the other important factors discussed under the caption "Risk
Factors" in Alpha Tau's annual report filed on form 20-F with the SEC on March 9, 2026, and other filings that Alpha Tau may
make with the United States Securities and Exchange Commission. These and other important factors could cause actual results to differ
materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent
management's estimates as of the date of this press release. While Alpha Tau may elect to update such forward-looking statements
at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause its views
to change. These forward-looking statements should not be relied upon as representing Alpha Tau's views as of any date subsequent
to the date of this press release.
Investor Relations Contact:
U.S. dollars in thousands
| December 31, | ||||||||
| 2024 | 2025 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 13,724 | $ | 12,202 | ||||
| Short-term deposits | 45,876 | 60,924 | ||||||
| Restricted deposits | 3,255 | 3,777 | ||||||
| Prepaid expenses and other receivables | 1,374 | 1,395 | ||||||
| Total current assets | 64,229 | 78,298 | ||||||
| LONG-TERM ASSETS: | ||||||||
| Long-term prepaid expenses | 432 | 479 | ||||||
| Property and equipment, net | 13,934 | 19,661 | ||||||
| Operating lease right-of-use assets | 7,609 | 7,214 | ||||||
| Total long-term assets | 21,975 | 27,354 | ||||||
| Total assets | $ | 86,204 | $ | 105,652 |
U.S. dollars in thousands (except share
| December 31, | ||||||||
| 2024 | 2025 | |||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Trade payables | $ | 3,531 | $ | 3,868 | ||||
| Other payables and accrued expenses | 4,133 | 5,508 | ||||||
| Current maturities of operating lease liabilities | 1,011 | 1,131 | ||||||
| Total current liabilities | 8,675 | 10,507 | ||||||
| LONG-TERM LIABILITIES: | ||||||||
| Long-term loan | 5,561 | 6,352 | ||||||
| Warrants liability | 3,338 | 5,354 | ||||||
| Operating lease liabilities | 5,964 | 6,243 | ||||||
| Deferred tax liability | - | 97 | ||||||
| Total long-term liabilities | 14,863 | 18,046 | ||||||
| Total liabilities | 23,538 | 28,553 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| SHAREHOLDERS' EQUITY: | ||||||||
| Ordinary shares of no-par value per share - Authorized: 362,116,800 shares as of December 31, 2024 and 2025; Issued and outstanding: 70,380,570 and 88,009,737 shares as of December 31, 2024 and 2025, respectively | - | - | ||||||
| Additional paid-in capital | 210,175 | 267,235 | ||||||
| Accumulated deficit | (147,509 | ) | (190,136 | ) | ||||
| Total shareholders' equity | 62,666 | 77,099 | ||||||
| Total liabilities and shareholders' equity | $ | 86,204 | $ | 105,652 |
STATEMENTS OF OPERATIONS
U.S. dollars in thousands (except share
| Year ended December 31, | ||||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| Research and development, net | $ | 26,424 | $ | 27,020 | $ | 32,065 | ||||||
| Marketing expenses | 1,924 | 2,349 | 1,860 | |||||||||
| General and administrative | 7,332 | 6,673 | 8,363 | |||||||||
| Total operating loss | 35,680 | 36,042 | 42,288 | |||||||||
| Financial (income) expenses, net | (6,539 | ) | (4,298 | ) | 218 | |||||||
| Loss before taxes on income | 29,141 | 31,744 | 42,506 | |||||||||
| Tax on income | 16 | 6 | 121 | |||||||||
| Net loss | 29,157 | 31,750 | 42,627 | |||||||||
| Net comprehensive loss | $ | 29,157 | $ | 31,750 | $ | 42,627 | ||||||
| Net loss per share, basic and diluted | $ | (0.42 | ) | $ | (0.45 | ) | $ | (0.53 | ) | |||
| Weighted-average shares used in computing net loss per share, basic and diluted | 69,377,922 | 69,927,566 | 80,581,440 |