DRTS · Alpha Tau Medical Ltd.

Alpha Tau's first quarter 2026 results reflect a period of heavy investment in clinical advancement, with R&D spending rising 53% year-over-year to $11.0 million. This increase was driven by intensified clinical trial activity, including the pivotal ReSTART and REGAIN studies, as well as milestone payments tied to the Japanese PMDA marketing authorization for Alpha DaRT in head and neck cancer. The net loss ballooned to $22.9 million from $8.7 million in the prior-year quarter, primarily due to a non-cash $9.6 million expense from the remeasurement of warrants liability. Operating loss grew to $13.3 million from $9.3 million. Importantly, the company's cash position strengthened to $80.2 million (including short-term deposits), up from $76.9 million at year-end 2025, providing ample runway for ongoing clinical programs and commercial preparations in Japan. On the clinical front, the company reported groundbreaking interim data from the REGAIN glioblastoma trial: 100% local disease control and 67% complete response in the first three patients. Additionally, patient enrollment was completed in the pivotal ReSTART trial for recurrent cutaneous squamous cell carcinoma, a critical milestone toward FDA pre-market approval. The company also secured FDA approval to expand the IMPACT pancreatic trial to include combination with gemcitabine/Abraxane and treated the first patient in Italy. With key data readouts expected later in 2026, Alpha Tau is executing across multiple fronts, positioning itself for potential regulatory milestones.