ATNM earnings analysis
What we found in ATNM's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
The provided 10-Q extract does not contain the current-quarter income statement, balance sheet, cash-flow statement, or segment disclosures, so quarter-over-quarter and year-over-year revenue, margin, EPS, cash, debt, inventory, receivables, and free-cash-flow trends cannot be quantified. For the six months ended June 30, 2026, the company reported net income of $22.4 million versus a $22.8 million net loss in the prior-year period, while management stated that resources should fund planned operations for more than 12 months. The major negatives remain the absence of commercial revenue, the FDA’s requirement for additional Iomab-B studies, financing constraints including the $75 million baby-shelf threshold, and potential government-agency and BIOSECURE Act disruptions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Six-Month Results Turned Profitable
- Management reported net income of $22.4 million for the six months ended June 30, 2026, compared with a net loss of $22.8 million for the six months ended June 30, 2025.
- Accumulated Deficit Improved
- The accumulated deficit declined to $387.3 million at June 30, 2026 from $409.7 million at December 31, 2025, reflecting the reported six-month net income of $22.4 million.
- Liquidity Expected Above 12 Months
- As of the filing date, management expected existing resources to fund planned operations for more than 12 months, supporting near-term liquidity despite the company’s clinical-stage status.
- SIERRA Met Primary Endpoint
- The FDA-related risk disclosure notes that the Phase 3 SIERRA trial met its durable complete remission endpoint with statistical significance at p-value <0.0001.
- Ac-225 Supply Secured Through 2026
- The company renewed its Department of Energy actinium-225 supply contract through the end of 2026 and stated that current supply is adequate for its present needs.
- Controls Reported Effective
- Disclosure controls and procedures were concluded effective as of June 30, 2026, and the company reported no material changes to internal controls during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Baby Shelf Limits Financing Flexibility
- The company disclosed that Form S-3 primary offerings may be limited to one-third of public float during any 12-calendar-month period while non-affiliate equity market value remains below $75 million. This could make future financing more costly or dilutive.
- BIOSECURE Act Threatens Grant Access
- The filing adds risk from the BIOSECURE Act enacted in December 2025, which may restrict federal agencies from procuring equipment or services linked to designated biotechnology companies of concern and could affect government-funded grants.
- Government Disruptions May Delay Trials
- Management expects trials under the NCI CRADA to be delayed following the federal shutdown from October 1, 2025 through November 12, 2025, while proposed workforce and policy changes at the FDA and NIH could create additional delays.
- Iomab-B Requires Additional Trials
- The FDA requires an additional randomized head-to-head Phase 3 trial for Iomab-B to demonstrate an overall-survival benefit and an additional dose-optimization trial based on bone-marrow absorbed dose rather than the prior 24 Gy liver maximum-tolerable-dose approach.
- No Commercial Revenue Yet
- The company states that it has generated no revenue from commercial sales to date and has incurred losses in every period since inception, despite reporting six-month net income of $22.4 million in 2026.
- Securities Litigation Remains Pending
- The filing highlights ongoing securities litigation alleging misrepresentations regarding the Iomab-B SIERRA trial; the defendants’ motion to dismiss was filed October 27, 2025, and the court’s decision remained pending.
What they said about what is next.
The provided 10-Q extract does not include quantitative revenue or EPS guidance. Management states that existing resources are expected to fund planned operations for more than 12 months following the filing date.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 8, 2026
- Actinium Pharmaceuticals reported no revenue for Q1 2026, consistent with the prior year period, while the net loss decreased significantly to $5.5 million from $15.9 million in Q1 2025, indicating improved operational…
- 10-K · March 30, 2026
- Actinium positions itself as a biology-driven, vertically integrated radiopharmaceutical company with a differentiated pipeline led by ATNM-400 (solid tumors) and multiple hematology assets (Actimab-A, Iomab-B,…
- 10-K · March 31, 2025
- Actinium Pharmaceuticals continues to enhance its targeted radiotherapy pipeline, focusing on unmet needs in cancer treatment through products like Actimab-A and Iomab-ACT. Despite reporting no revenue this quarter, the…
- 10-Q · November 14, 2024
- Actinium reported no revenue for the quarter and narrowed its GAAP loss: Q3 net loss was $(11,568) (EPS $(0.37)) versus $(13,276) (EPS $(0.49)) in Q3 2023, driven by lower R&D spend. The company generated $78,660 in…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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