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JERUSALEM - Alpha Tau Medical Ltd. (NASDAQ:DRTS, DRTSW), an Israeli oncology therapeutics company, has announced the appointment of Mr. Nadav Kidron to its Board of Directors. Kidron currently serves as President, CEO, and Chairman of Oramed Pharmaceuticals Inc. This move comes on the heels of a strategic investment by an affiliate of Oramed into Alpha Tau. The company, currently valued at $235 million, has shown strong momentum with a 30% gain over the past six months, according to InvestingPro data.
Mr. Uzi Sofer, Alpha Tau’s CEO and Chairman, expressed confidence in Kidron’s appointment, citing his extensive experience at the forefront of a public company and his potential contribution to Alpha Tau’s strategy towards commercialization. Kidron, who has been at the helm of Oramed since March 2006 and became its board chairman in June 2022, welcomed the opportunity to join Alpha Tau, acknowledging the company’s progress in the field of oncology therapeutics. The company maintains a strong financial position with a healthy current ratio of 7.4, indicating robust liquidity to support its growth initiatives.
Alpha Tau, founded in 2016, is focused on the development and potential commercialization of its proprietary Alpha DaRT technology, a form of alpha-radiation cancer therapy. The Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy) is designed to target solid tumors with alpha irradiation by delivering radium-224 impregnated sources directly into the tumor. This method aims to maximize the destruction of tumor cells while minimizing damage to surrounding healthy tissue. InvestingPro analysis reveals 8 additional key insights about the company’s financial health and market position, with analysts setting price targets between $5 and $13.
The press release also contains forward-looking statements regarding Alpha Tau’s expectations and projections about the future, which are subject to risks and uncertainties. These include regulatory approvals, the company’s limited operating history, funding needs, medical device development experience, dependence on the success of Alpha DaRT technology, clinical study predictions, patient enrollment challenges, potential side effects, patent infringement lawsuits, regulatory compliance, Nasdaq listing standards, and public company costs. Investors should note that the company’s next earnings report is scheduled for May 21, 2025, which could provide crucial updates on its commercialization progress.
Alpha Tau has cautioned that the forward-looking statements are based on current expectations and assumptions that are inherently uncertain, and actual results could differ materially from those projected. The company has disclaimed any obligation to update forward-looking statements in the future, even if its views change.
This news article is based on a press release statement from Alpha Tau Medical Ltd.
In other recent news, Alpha Tau Medical Ltd. reported a net loss of $31.8 million, or ($0.45) per share, for the full year of 2024, slightly exceeding analyst estimates from H.C. Wainwright, which projected a $30.9 million loss. Despite this, H.C. Wainwright maintained a Buy rating on Alpha Tau with a price target of $9.00, reflecting confidence in the company’s upcoming clinical and regulatory milestones. In a strategic move, Oramed Pharmaceuticals Inc. invested $36.9 million in Alpha Tau, acquiring approximately 14.1 million shares. This investment is part of a collaboration where Oramed will provide Alpha Tau with investor relations and strategic business guidance. Oramed will also appoint two directors to Alpha Tau’s Board as part of this alliance. The partnership aims to integrate Oramed’s oral drug delivery technology with Alpha Tau’s precision radiation therapy, potentially enhancing therapeutic delivery. Alpha Tau is preparing for significant events in 2025, including clinical trials and regulatory approvals in the U.S. and Japan. The company’s facility in Hudson, New Hampshire, is also nearing completion and is expected to start production of Alpha DaRT technology later this year.
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