Actinium Pharmaceuticals Reports No Revenue, Focuses on Iomab-B Phase 3

TL;DR

**ATNM is a high-stakes bet on Iomab-B's clinical success; no revenue means it's all about the pipeline.**

AI Summary

Actinium Pharmaceuticals, Inc. (ATNM) reported no revenue for the quarter ended June 30, 2025, consistent with its status as a clinical-stage biopharmaceutical company. The company's net loss for the three months ended June 30, 2025, was not explicitly stated in the provided excerpt, but as a non-revenue generating entity, it is expected to be negative due to ongoing research and development expenses. Key business changes include its continued focus on developing targeted radiotherapies, with its lead program, Iomab-B, in a pivotal Phase 3 trial for bone marrow conditioning prior to hematopoietic stem cell transplant. The company maintains its status as a non-accelerated filer and a smaller reporting company, indicating its market capitalization and public float are below certain thresholds. Risks primarily revolve around the successful clinical development and regulatory approval of its drug candidates, as well as its ability to secure future funding. The strategic outlook remains centered on advancing Iomab-B through clinical trials and exploring its potential in other indications, alongside the development of its Actinium-225 (Ac-225) based pipeline.

Why It Matters

For investors, ATNM's lack of revenue underscores its high-risk, high-reward profile, typical of clinical-stage biotechs; success with Iomab-B could lead to significant returns, while failure would be detrimental. Employees' job security and the company's future depend entirely on clinical trial outcomes and subsequent commercialization. Customers, specifically patients with blood cancers, stand to benefit from a potentially life-saving treatment if Iomab-B gains approval, offering a new option in a competitive oncology market dominated by established pharmaceutical giants. The broader market will watch ATNM's progress as a bellwether for the radiopharmaceutical sector, potentially influencing investment in similar targeted therapies.

Risk Assessment

Risk Level: high — Actinium Pharmaceuticals is a clinical-stage biopharmaceutical company with no revenue, as indicated by the lack of revenue figures in the filing. Its primary asset, Iomab-B, is in a pivotal Phase 3 trial, meaning its future success and financial viability are entirely dependent on the outcome of this trial and subsequent regulatory approval, which carries significant inherent risk.

Analyst Insight

Investors should conduct thorough due diligence on Iomab-B's clinical trial data and market potential, understanding that ATNM is a speculative investment. Consider a small, diversified position if you have a high-risk tolerance and believe in the long-term prospects of radiopharmaceuticals, but be prepared for significant volatility.

Financial Highlights

debt To Equity

Not Disclosed

revenue

$0.00

operating Margin

Not Disclosed

total Assets

Not Disclosed

total Debt

Not Disclosed

net Income

Not Disclosed

eps

Not Disclosed

gross Margin

Not Disclosed

cash Position

Not Disclosed

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• $0.00 — Revenue (for the quarter ended June 30, 2025, indicating a clinical-stage company)
• 001-36374 — SEC File Number (identifies the company's filings with the SEC)
• 100 Park Ave., 23rd Floor — Business Address (company's principal executive offices)

Key Players & Entities

• Actinium Pharmaceuticals, Inc. (company) — registrant in 10-Q filing
• Iomab-B (product) — lead drug candidate in Phase 3 trial
• NYSE American (regulator) — exchange where ATNM common stock is registered
• June 30, 2025 (date) — end of the quarterly reporting period
• New York (location) — business address city
• Delaware (location) — state of incorporation
• 001-36374 (identifier) — Commission File Number
• Actinium-225 (Ac-225) (product) — basis for pipeline development

FAQ

Risk Factors

• Need for Future Financing [high — financial]: The company's ability to continue its operations and fund its research and development activities, including the pivotal Phase 3 trial for Iomab-B, is dependent on its ability to secure additional funding. Without sufficient capital, the company may not be able to complete its planned development programs.
• Clinical Trial and Regulatory Approval Risks [high — regulatory]: The success of Actinium's drug candidates, particularly Iomab-B, is contingent upon successful completion of clinical trials and subsequent regulatory approval from bodies like the FDA. Delays, adverse trial results, or failure to gain approval would significantly impact the company's prospects.
• Dependence on Key Personnel and Technology [medium — operational]: The company's success relies heavily on its scientific team and proprietary technology for developing targeted radiotherapies. Loss of key personnel or challenges with its Actinium-225 (Ac-225) based pipeline could impede progress.
• Competition in Targeted Radiotherapy [medium — market]: The field of targeted radiotherapies is competitive, with other companies also developing novel treatments. Actinium faces competition from established pharmaceutical companies and emerging biotechs, which could affect market penetration and pricing if its products are approved.

Industry Context

The biopharmaceutical industry, particularly the oncology sector, is characterized by high R&D costs, long development cycles, and significant regulatory hurdles. Companies like Actinium Pharmaceuticals are focused on developing innovative therapies, such as targeted radiotherapies, to address unmet medical needs. The competitive landscape includes both large, established pharmaceutical companies and smaller, specialized biotech firms, all vying for market share and investor capital.

Regulatory Implications

Actinium Pharmaceuticals operates under strict regulatory oversight from agencies like the FDA. The success of its drug candidates hinges on rigorous clinical trials and adherence to Good Manufacturing Practices (GMP). Any delays in clinical trials, adverse findings, or failure to meet regulatory standards can significantly impact the company's ability to bring its products to market.

What Investors Should Do

1. Monitor Iomab-B Phase 3 trial progress and results.
2. Track future financing activities and cash burn rate.
3. Evaluate the company's pipeline development beyond Iomab-B.

Key Dates

• 2025-06-30: Quarterly period end — This date marks the end of the reporting period for the 10-Q filing, providing financial and operational updates for the preceding three months.
• 2025-08-08: Filing date of the 10-Q report — Indicates when the company submitted its quarterly financial and operational report to the SEC, making the information publicly available.

Glossary

Clinical-stage biopharmaceutical company

A company focused on drug discovery and development that has not yet received regulatory approval for any of its products and therefore does not generate revenue from sales. (Explains why Actinium Pharmaceuticals, Inc. reports zero revenue and incurs ongoing research and development expenses.)

Iomab-B

Actinium's lead drug candidate, a targeted radiotherapeutic designed for bone marrow conditioning prior to hematopoietic stem cell transplant. (Represents the company's most advanced program and a key focus for future development and potential revenue generation.)

Hematopoietic stem cell transplant

A medical procedure to replace damaged or destroyed bone marrow with healthy bone marrow stem cells. (Provides context for the intended use of Iomab-B and the patient population it aims to serve.)

Actinium-225 (Ac-225)

A radioactive isotope used as a source of alpha-particle emitting therapy, which Actinium Pharmaceuticals is developing for its pipeline. (Highlights the core technology and radioactive component used in the company's targeted radiotherapy approach.)

Non-accelerated filer

A filer that does not meet the criteria for accelerated filer status, typically based on public float and reporting history. They have more time to file their annual reports. (Indicates Actinium's size and reporting obligations, suggesting a smaller market capitalization.)

Smaller reporting company

A company that meets certain thresholds for public float and annual revenue, allowing for scaled disclosure requirements. (Further clarifies Actinium's size and regulatory compliance status, often associated with lower revenue and market capitalization.)

Year-Over-Year Comparison

As a clinical-stage company with no revenue, year-over-year comparisons of revenue and margins are not applicable. The primary focus remains on the progression of its drug development pipeline, particularly the pivotal Phase 3 trial for Iomab-B. Investors should look for updates on clinical trial milestones, regulatory interactions, and any changes in the company's financial position, such as cash reserves and burn rate, which are more relevant than traditional financial performance metrics.

Key Financial Figures

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

Filing Documents

• ea0249439-10q_actinium.htm (10-Q) — 834KB
• ea024943901ex31-1_actinium.htm (EX-31.1) — 9KB
• ea024943901ex31-2_actinium.htm (EX-31.2) — 10KB
• ea024943901ex32-1_actinium.htm (EX-32.1) — 4KB
• ea024943901ex32-2_actinium.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 31KB
• image_002.jpg (GRAPHIC) — 32KB
• image_003.jpg (GRAPHIC) — 39KB
• image_004.jpg (GRAPHIC) — 36KB
• image_005.jpg (GRAPHIC) — 29KB
• image_006.jpg (GRAPHIC) — 16KB
• image_007.jpg (GRAPHIC) — 44KB
• image_008.jpg (GRAPHIC) — 41KB
• 0001213900-25-073743.txt ( ) — 4285KB
• atnm-20250630.xsd (EX-101.SCH) — 24KB
• atnm-20250630_cal.xml (EX-101.CAL) — 25KB
• atnm-20250630_def.xml (EX-101.DEF) — 130KB
• atnm-20250630_lab.xml (EX-101.LAB) — 289KB
• atnm-20250630_pre.xml (EX-101.PRE) — 147KB
• ea0249439-10q_actinium_htm.xml (XML) — 290KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 75 Item 3. Defaults Upon Senior Securities 75 Item 4. Mine Safety Disclosures 75 Item 5. Other Information 75 Item 6. Exhibits 76

- 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, 2025 and December 31, 2024, and the results of operations and cash flows for the three months and six months ended June 30, 2025 and 2024, 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, 2024 in the Company's Annual Report on Form 10-K. The results of operations for the three months and six months ended June 30, 2025 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, 2025 December 31, 2024 (Unaudited) Assets Current Assets: Cash and cash equivalents $ 59,928 $ 72,904 Prepaid expenses and other current assets 1,101 1,602 Total Current Assets 61,029 74,506 Property and equipment, net of accumulated depreciation of $ 985 and $ 891 271 364 Restricted cash – long term 329 324 Operating leases right-of-use assets 1,373 1,685 Finance leases right-of-use assets 15 20 Total Assets $ 63,017 $ 76,899 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued expenses $ 7,714 $ 7,568 Operating leases current liability 589 569 Finance leases current liability 11 11 Total Cu

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, 2025 2024 2025 2024 Revenue Revenue $ - $ - $ - $ - Other revenue - - - - Total revenue - - - - Operating expenses: Research and development, net of reimbursements 4,879 8,825 12,579 15,460 General and administrative 2,624 3,593 11,562 6,555 Total operating expenses 7,503 12,418 24,141 22,015 Loss from operations ( 7,503 ) ( 12,418 ) ( 24,141 ) ( 22,015 ) Other income: Interest income - net 625 1,065 1,325 1,992 Total other income 625 1,065 1,325 1,992 Net loss $ ( 6,878 ) $ ( 11,353 ) $ ( 22,816 ) $ ( 20,023 ) Net loss per common share – basic and diluted $ ( 0.22 ) $ ( 0.38 ) $ ( 0.73 ) $ ( 0.69 ) Weighted average common shares outstanding – basic and diluted 31,195,891 30,103,063 31,195,891 28,994,775 See accompanying notes to the condensed consolidated

financial statements

financial statements. 3 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statement of Changes in Stockholders' Equity For the Period from January 1, 2025 to June 30, 2025 (Unaudited) (amounts in thousands, except share amounts) Common Stock Additional Paid-In Accumulated Stockholders ' Shares Amount Capital Deficit Equity Balance, January 1, 2025 31,195,891 $ 31 $ 408,553 $ ( 375,826 ) $ 32,758 Stock-based compensation - - 8,874 - 8,874 Net loss - - - ( 15,938 ) ( 15,938 ) Balance, March 31, 2025 31,195,891 $ 31 $ 417,427 $ ( 391,764 ) $ 25,694 Stock-based compensation - - 197 - 197 Net loss - - - ( 6,878 ) ( 6,878 ) Balance, June 30, 2025 31,195,891 $ 31 $ 417,624 $ ( 398,642 ) $ 19,013 See accompanying notes to the condensed consolidated

financial statements

financial statements. 4 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statement 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 5 Actinium Pharmaceuticals, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (amounts in thousands) For the Six Months Ended June 30, 2025 2024 Cash flows used in operating activities: Net loss $ ( 22,816 ) $ ( 20,023 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation expense 9,071 2,752 Depreciation and amortization expenses 409 405 Changes in operating assets and liabilities: Prepaid expenses and other current assets 501 555 Accounts payable and accrued expenses 147 1,224 Operating lease liabilities ( 278 ) ( 259 ) Net cash used in operating activities ( 12,966 ) ( 15,346 ) Cash flows used in investing activities: Purchase of property and equipment - ( 11 ) Net cash used in investing activities - ( 11 ) Cash flows used in/provided by financing activities: Payments on finance leases ( 5 ) ( 5 ) Sales of shares of common stock, net of costs -

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. ("Actinium", the "Company", or "we") is a pioneer in the development of targeted radiotherapies intended to meaningfully improve outcomes for patients with advanced cancers. Our goal is to create a specialty radiopharmaceutical company with capabilities across radioisotope production, final drug product manufacturing, preclinical research and development ("R&D") and clinical development. We are deploying our technologies, capabilities and intellectual property with approximately 240 issued and pending patents worldwide, to develop next-generation radiotherapies. We are focused on developing highly differentiated and innovative first-in-class product candidates. Our current pipeline of clinical and preclinical stage targeted radiotherapy product candidates are directed against validated cancer targets for indications in hematology, solid tumors and conditioning for cell and gene therapies, which we believe have high unmet needs that are not addressed by currently available treatment options. 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 (co

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