Alpha Tau Medical Ltd. reported a net loss of $30.5 million for the nine‑month period ended September 30, 2025, compared with a $22.3 million loss for the same period in 2024. Research and development spending rose to $22.5 million, up from $19.5 million year‑over‑year, while marketing expenses fell to $1.4 million from $1.7 million. General and administrative costs increased to $5.8 million from $4.6 million, reflecting higher share‑based compensation and professional fees. Cash, cash equivalents, short‑term deposits and restricted deposits totaled $75.9 million as of September 30, 2025, up from $62.9 million at the end of 2024.
Alpha Tau’s broader spending picture shows that the R&D increase was driven by higher raw‑material costs and third‑party contractor fees associated with expanding its Alpha DaRT clinical pipeline. The decline in marketing spend reflects a shift away from promotional activities toward clinical trial execution, while the rise in G&A is largely attributable to share‑based compensation and increased professional‑service fees. The company also shifted from a financial income in 2024 to a financial expense in 2025, largely due to the remeasurement of warrants.
The $75.9 million cash balance provides a robust runway for continued clinical development and supports the company’s planned expansion of its New Hampshire facility, where Alpha Tau invested nearly $2 million in Q3 to prepare for future patient treatments. The facility’s radioactive‑material license and 400,000‑source capacity position the company to accelerate the Alpha DaRT platform into broader commercial use.
Alpha Tau highlighted progress in its pancreatic cancer and glioblastoma programs, noting that patient recruitment in the U.S. pivotal ReSTART trial is on track and that the first patients with glioblastoma multiforme will soon begin treatment. The company is also awaiting a response from Japan’s PMDA for marketing authorization of its head‑and‑neck cancer therapy, a key regulatory milestone for the Alpha DaRT platform.
"The third quarter has seen a fantastic continuation of our accelerating momentum at Alpha Tau," said CEO Uzi Sofer. "Receiving the radioactive license approval in New Hampshire was a significant milestone in our push for operational commercial readiness, and we are continuing to develop that facility for use in treating patients in the U.S., Canada, and elsewhere. We are very happy with the rate of recruitment in our U.S. multi‑center pilot study in pancreatic cancer, and look forward to some potential targeted near‑term milestones, including a forthcoming response from the PMDA to our request for marketing authorization in Japan and treating our first patients with glioblastoma multiforme shortly."
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