Clarity Pharmaceuticals closed FY2026 with $178.3 million in liquid assets, rising revenue, and new copper isotope manufacturing agreements. Radiopharm Theranostics closed the same fiscal year with cash down to $4.1 million and an auditor-flagged going-concern uncertainty, despite a post-year-end capital raise. Both companies are advancing legitimate PSMA-adjacent pipelines with real clinical momentum. The difference is capacity to fund the next several years of it, and that difference now matters as much as the science.

Clarity Pharmaceuticals’ Appendix 4E preliminary final report for the year ended June 30, 2026, showed revenue up 68% to $8.0 million and R&D expenditure climbing $24.2 million to $91.1 million, funded by a $203 million placement completed in July 2025 and a $9.8 million R&D tax incentive refund. Liquid assets rose to $178.3 million from $84.1 million, and net tangible assets per share nearly doubled to 49.9 cents. The company also signed new copper-67 supply and copper-64 manufacturing agreements with Nusano, Theragenics, and Nucleus RadioPharma, and is planning a registrational Phase III trial of 64Cu-SARTATE for neuroendocrine tumors following positive FDA discussions.

A 91-patient Journal of Nuclear Medicine study comparing PSMA PET/CT and 177Lu-PSMA therapy access between Brazil and Europe found the median wait from dose request to first treatment was 59 days in Brazil versus 21 days in Europe, quantifying a real-world access gap that matters for any program planning theranostics capacity outside major markets.

A separate Journal of Nuclear Medicine analysis found that adding baseline 18F-FDG PET to 68Ga-PSMA-11 PET meaningfully improved an overall-survival nomogram in metastatic castration-resistant prostate cancer patients ahead of 177Lu-PSMA-617 therapy, sharpening patient selection beyond PSMA avidity alone.

Radiopharm Theranostics’ FY2026 preliminary final report disclosed cash reserves falling from $29.1 million to $4.1 million and a loss attributable to owners up 50% to $55.1 million, with the auditor’s report expected to flag a material uncertainty around going concern. The company raised A$12.5 million through an institutional placement plus a A$6 million share purchase plan after year-end to extend its runway.

Radiopharm Theranostics also dosed the first patient in the second cohort of its Phase 1/2a trial of RV-01 (BetaBart), a 177Lutetium-tagged antibody targeting B7-H3, advancing to the 70 mCi dose level in the joint venture program with MD Anderson Cancer Center.

GE HealthCare named William Grogan as its new chief financial officer, effective September 14, succeeding Jay Saccaro. Grogan joins from Xylem, where he served as EVP and CFO since 2023.