Actinium Pharmaceuticals Files Q2 2024 10-Q

TL;DR

Actinium Pharma filed its Q2 10-Q. All good.

AI Summary

Actinium Pharmaceuticals, Inc. filed its quarterly report on Form 10-Q for the period ending June 30, 2024. The company, incorporated in Delaware, is based in New York and operates in the pharmaceutical preparations sector. Its principal executive offices are located at 100 Park Ave., 23rd Floor, New York, NY 10017, with a business phone number of (646) 677-3870.

Why It Matters

This filing provides investors with an update on Actinium Pharmaceuticals' financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing routine financial and operational information.

Key Players & Entities

• Actinium Pharmaceuticals, Inc. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• 100 Park Ave., 23rd Floor (location) — Principal executive offices address
• New York, NY (location) — Principal executive offices city and state
• 10017 (location) — Principal executive offices zip code
• (646) 677-3870 (phone_number) — Registrant's telephone number
• 001-36374 (identifier) — Commission File Number
• Delaware (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 ATNM NYSE American Indicate by check

Filing Documents

• ea0209503-10q_actinium.htm (10-Q) — 746KB
• ea020950301ex31-1_actinium.htm (EX-31.1) — 9KB
• ea020950301ex31-2_actinium.htm (EX-31.2) — 9KB
• ea020950301ex32-1_actinium.htm (EX-32.1) — 4KB
• ea020950301ex32-2_actinium.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 36KB
• 0001213900-24-065239.txt ( ) — 3560KB
• atnm-20240630.xsd (EX-101.SCH) — 35KB
• atnm-20240630_cal.xml (EX-101.CAL) — 27KB
• atnm-20240630_def.xml (EX-101.DEF) — 149KB
• atnm-20240630_lab.xml (EX-101.LAB) — 309KB
• atnm-20240630_pre.xml (EX-101.PRE) — 146KB
• ea0209503-10q_actinium_htm.xml (XML) — 279KB

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults Upon Senior Securities 60 Item 4. Mine Safety Disclosures 60 Item 5. Other Information 60 Item 6. Exhibits 61

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

UNAUDITED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements have been prepared by Actinium Pharmaceuticals, Inc., or the Company, and are unaudited. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at June 30, 2024 and December 31, 2023, and the results of operations and cash flows for the three months and six months ended June 30, 2024 and 2023, respectively, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's audited financial statements for the year ended December 31, 2023 in the Company's Annual Report on Form 10-K. The results of operations for the three months and six months ended June 30, 2024 are not necessarily indicative of the operating results for the full year. 1 Actinium Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (Unaudited) (amounts in thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) Assets Current Assets: Cash and cash equivalents $ 86,037 $ 76,677 Prepaid expenses and other current assets 1,031 1,586 Total Current Assets 87,068 78,263 Property and equipment, net of accumulated depreciation of $ 794 and $ 694 460 550 Restricted cash – long term 318 313 Operating leases right-of-use assets 1,990 2,289 Finance leases right-of-use assets 25 30 Total Assets $ 89,861 $ 81,445 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued expenses $ 9,177 $ 7,953 Operating leases current liability 540 530 Finance leases current liability 11 11 Total

financial statements

financial statements. 2 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (Unaudited) (amounts in thousands, except share and per share data) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Revenue Revenue $ - $ - $ - $ - Other revenue - - - - Total revenue - - - * Operating expenses: Research and development, net of reimbursements 8,825 11,081 15,460 18,930 General and administrative 3,593 4,561 6,555 8,296 Total operating expenses 12,418 15,642 22,015 27,226 Loss from operations ( 12,418 ) ( 15,642 ) ( 22,015 ) ( 27,226 ) Other income: Interest income - net 1,065 461 1,992 1,008 Total other income 1,065 461 1,992 1,008 Net loss $ ( 11,353 ) $ ( 15,181 ) $ ( 20,023 ) $ ( 26,218 ) Net loss per common share – basic and diluted $ ( 0.38 ) $ ( 0.58 ) $ ( 0.69 ) $ ( 1.01 ) Weighted average common shares outstanding – basic and diluted 30,103,063 26,217,910 28,994,775 25,958,706 See accompanying notes to the condensed consolidated

financial statements

financial statements. 3 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statements of Changes in Stockholders' Equity For the Period from January 1, 2024 to June 30, 2024 (Unaudited) (amounts in thousands, except share amounts) Common Stock Additional Paid-In Accumulated Stockholders' Shares Amount Capital Deficit Equity Balance, January 1, 2024 27,634,213 $ 28 $ 373,934 $ ( 337,583 ) $ 36,379 Stock-based compensation - - 1,378 - 1,378 Sale of common stock, net of offering costs 1,752,050 1 14,694 - 14,695 Issuance of common stock from exercise of stock options 10,148 - 75 - 75 Net loss - - - ( 8,670 ) ( 8,670 ) Balance, March 31, 2024 29,396,411 $ 29 $ 390,081 $ ( 346,253 ) $ 43,857 Stock-based compensation - - 1,374 - 1,374 Sale of common stock, net of offering costs 1,154,191 2 9,955 - 9,957 Net loss - - - ( 11,353 ) ( 11,353 ) Balance, June 30, 2024 30,550,602 $ 31 $ 401,410 $ ( 357,606 ) $ 43,835 See accompanying notes to the condensed consolidated

financial statements

financial statements. 4 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statements of Changes in Stockholders' Equity For the Period from January 1, 2023 to June 30, 2023 (Unaudited) (amounts in thousands, except share amounts) Common Stock Additional Paid-In Accumulated Stockholder' Shares Amount Capital Deficit Equity Balance, January 1, 2023 25,674,823 $ 26 $ 355,220 $ ( 288,765 ) $ 66,481 Stock-based compensation - - 993 - 993 Sale of common stock, net of offering costs 54,414 - 770 - 770 Issuance of common stock from exercise of stock options 133 - 1 - 1 Net loss - - - ( 11,037 ) ( 11,037 ) Balance, March 31, 2023 25,729,370 $ 26 $ 356,984 $ ( 299,802 ) $ 57,208 Stock-based compensation - - 1,001 - 1,001 Sale of common stock, net of offering costs 1,210,965 1 9,787 - 9,788 Issuance of common stock from exercise of stock options 44,108 - 261 - 261 Net loss - - - ( 15,181 ) ( 15,181 ) Balance, June 30, 2023 26,984,443 $ 27 $ 368,033 $ ( 314,983 ) $ 53,077 See accompanying notes to the condensed consolidated

financial statements

financial statements. 5 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (amounts in thousands) For the Six Months Ended June 30, 2024 2023 Cash Flows Used In Operating Activities: Net loss $ ( 20,023 ) $ ( 26,218 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation expense 2,752 1,994 Depreciation & amortization expenses 405 391 Changes in operating assets and liabilities: Prepaid expenses and other current assets 555 ( 2,625 ) Accounts payable and accrued expenses 1,224 ( 1,493 ) Operating lease right-of-use assets - ( 527 ) Operating lease liabilities ( 259 ) ( 242 ) Net Cash Used In Operating Activities ( 15,346 ) ( 28,720 ) Cash Flows Used In Investing Activities: Purchase of property and equipment ( 11 ) ( 123 ) Net Cash Used In Investing Activities ( 11 ) ( 123 ) Cash Flows Provided By Financing Activities: Payments on finance leases ( 5 ) ( 2 ) Sales of shares of common stock, net of costs 24,652 10,558 Proceeds from the exercise of stock options 75 262 Net Cash Provided By Financing Activities 24,722 10,818 Net change in cash, cash equivalents, and restricted cash 9,365 ( 18,025 ) Cash, cash equivalents, and restricted cash at beginning of period 76,990 109,608 Cash, cash equivalents, and restricted cash at end of period $ 86,355 $ 91,583 Supplemental disclosure of cash flow information: Cash paid for interest $ - $ - Cash paid for income taxes $ - $ - See accompanying notes to the condensed consolidated

financial statements

financial statements. 6 Actinium Pharmaceuticals, Inc. Notes to Condensed Consolidated Financial Statements (Unaudited) Note 1 - Description of Business and Summary of Significant Accounting Policies Nature of Business - Actinium Pharmaceuticals, Inc. is a biopharmaceutical company developing ARCs and other targeted radiotherapies to deliver cancer-killing radiation with cellular level precision to treat patients with high unmet medical needs. Basis of Presentation - Unaudited Interim Financial Information - The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information, and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the "SEC") with respect to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Principles of Consolidation - The basis of consolidation is unchanged from the disclosure in the Company's Notes to the Consolidated Financial Statements section in its Annual Report on Form 10-K for the year ended December 31, 2023. The unaudited condensed consolidated financial statements include the

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