Actinium Pharmaceuticals Inc (NYSE American: ATNM) is a clinical-stage radiopharmaceutical company developing targeted radiotherapy candidates for cancer and non-malignant hematologic diseases. The company generates no product revenue and finances operations through sales of common stock and common stock equivalents. Lead programs include Iomab-ACT, evaluated as conditioning prior to bone marrow transplant in hematologic malignancies and sickle cell disease, alongside a pipeline of radioconjugate candidates targeting solid tumors. As of the 10-K filed March 30, 2026, ATNM reported a net loss of $33.9 million for FY2025, down from $38.2 million in FY2024, with net cash used in operating activities of $24.6 million in FY2025. The company holds an intellectual property portfolio of approximately 250 issued patents. A radiopharmaceutical manufacturing facility is under construction with clinical supply capability expected in the second half of 2026. Distribution relationships with approximately 50 hospitals are established. ATNM has historically funded operations entirely through equity issuance, carries no disclosed product revenue, and does not pay a dividend.

Revenue model

No product revenue as of FY2025. Operations financed exclusively through equity issuance, including sales of common stock and common stock equivalents. The company is pre-commercial.

Products and services

Iomab-ACT: targeted radiotherapy candidate evaluated as conditioning for allogeneic bone marrow transplant in hematologic malignancies, CAR-T cell therapy preparation, and sickle cell disease. Pipeline radioconjugates in preclinical and early clinical development targeting solid tumors. Proprietary cyclotron-based Actinium-225 (Ac-225) isotope production technology under development for potential partnership.

Customers and end markets

End markets are oncology and non-malignant hematologic disease, specifically patients with relapsed or refractory hematologic malignancies, B-cell malignancies, acute lymphoblastic leukemia, non-Hodgkin's lymphoma, and sickle cell disease. Distribution network established with approximately 50 leading hospitals as of the 10-K filed March 30, 2026.

Value-chain role

Clinical-stage drug developer with expanding vertical integration across the radiopharmaceutical value chain: target selection, radioconjugate design, preclinical pharmacology, translational biomarker development, and radiopharmaceutical manufacturing. Manufacturing facility under construction, expected commissioning in second half of 2026. Holds multiple redundant isotope supply agreements.

Geographic exposure

Primary operations in the United States. Clinical trials and potential future commercialization subject to FDA and foreign regulatory authority approvals. International regulatory exposure noted but no specific non-U.S. revenue or trial geography disclosed in the excerpts.

Source: SEC 10-K, filed 2026-03-30

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