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RAD_Research_Report_12_03_2024.pdf

We have valued RAD at $0.26 using a future and probability-weighted discounted cash flow model based on revenue potential, given the current treatable market for RAD’s lead product RAD 101 for imaging brain metastases. Bringing a new imaging drug to market is a slightly less daunting path than a new therapeutic drug. Should the upcoming phase 2b trial be successful a phase 3 trial would follow immediately, and we could see first revenues in 2027. RAD 101 is RAD’s most advanced product, and therefore, we have focused on it for our valuation. Currently, there are 390,000 cases USA, and we expect case numbers to grow by 2% per year. The addressable market is 265,000. To be as conservative as possible, we have estimated an initial market penetration of 10% and a treatment cost of US$4,730, rising to a market share of 60% by 2033 with revenue to RAD of AU$555m. This puts RAD on a similar path to market as comparable companies in other imaging cancer drugs.

Read the full Research Report by clicking on the link below.

Initiation Research Report Radiopharm (ASX:RAD) Near to market imaging drug