Alpha Tau Medical Announces Third Quarter 2022 Financial Results and Provides Corporate Update JERUSALEM

Announces Third Quarter 2022 Financial Results and Provides Corporate Update

22, 2022 - Alpha Tau Medical Ltd. (Nasdaq: DRTS and DRTSW), ("Alpha Tau" or the "Company"), the developer

of the innovative alpha-radiation cancer therapy Alpha DaRT , reported third quarter 2022 financial results and provided a corporate

Tau remained active in the third quarter, as we continued preparations for our upcoming U.S. pivotal study in recurrent cutaneous squamous

cell carcinoma and laid the groundwork for exploration of our Alpha DaRT oncology treatment platform across a broad set of applications,"

said Alpha Tau CEO Uzi Sofer. "At the same time, we have remained highly visible through a series of scientific publications

and presentations to discuss our Alpha DaRT treatment. In anticipation of pivotal study data and a potential U.S. launch, we are actively

preparing for our global commercialization efforts, having brought the highly experienced Peter Melnyk into the role of Chief Commercial

Officer, while we continue to ramp up manufacturing capacity across the world. Peter will focus on prelaunch activities across the U.S.

and international markets to help prepare for future reimbursement and commercialization efforts. In parallel, we continue to initiate

a number of feasibility trials in internal organs and develop new delivery technologies for Alpha DaRT to expand its use in patients

underserved by current treatments. With all of this activity, we remain well capitalized and focused on efficient operations as we continue

to execute on our strategic plans."

Recent Corporate Highlights:

Anticipated Milestones

results for the third quarter ended September 30, 2022

expenses for the quarter ended September 30, 2022 were $4.8 million, compared to $3.0 million for the same period in 2021,

primarily due to increased R&D headcount, costs associated with our U.S. multi-center pivotal study and other clinical studies, and

increased share-based compensation costs and accrual of other compensation expenses.

expenses for the quarter ended September 30, 2022 were $0.2 million, compared to $0.1 million for the same period in 2021.

expenses for the quarter ended September 30, 2022 were $2.3 million, compared to $0.5 million for the same period in 2021,

primarily due to increased professional fees (including D&O insurance), share-based compensation, advisors and other expenses associated

with being a public company, and accrual of other compensation expenses.

income, net, for the quarter ended September 30, 2022 was $4.7 million, compared to financial expense, net of $1.2 million for the same

period in 2021, primarily due to the remeasurement of warrants and interest income on cash balances.

the quarter ended September 30, 2022, the Company had a net loss of $2.6 million, or ($0.04) per share, compared to a loss

of $4.8 million, or ($0.12) per share, in the same period in 2021.

of September 30, 2022, the Company had cash and cash equivalents, restricted cash and short-term deposits in the amount of $108.5

million, compared to $31.9 million on December 31, 2021. The Company expects that this cash balance will be sufficient

to fund operations for at least two years.

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.

in 2016, Alpha Tau is an Israeli medical device 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.

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, projections, objectives, performance or other

characterizations of future events or circumstances, 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; (xix) impacts from the COVID-19

pandemic; 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 28, 2022, 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.

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share and per share data)

STATEMENTS OF OPERATIONS

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