Alpha Tau Medical Ltd. (NASDAQ: DRTS)

Alpha Tau Medical Ltd. is a clinical-stage oncology therapeutics company focused on harnessing the innate relative biological effectiveness and short range of alpha particles for use as a localized radiation therapy for solid tumors. The company’s proprietary Alpha DaRT® technology is designed to utilize the specific therapeutic properties of alpha particles while aiming to overcome the traditional shortcomings of alpha radiation’s limited range. Alpha Tau Medical Ltd. is developing this technology for applications in refractory or unresectable localized tumors, tumor types with high unmet need such as pancreatic adenocarcinoma or glioblastoma multiforme, and metastatic tumors in combination with systemic therapies such as checkpoint inhibitors.

Alpha Tau Medical Ltd. generates revenue through the development and potential commercialization of its Alpha DaRT® technology, which includes the sale of radioactive sources, applicators, and related accessories for use in clinical trials and future therapeutic applications. The company’s primary products are designed for use by healthcare providers in the treatment of solid tumors, with a focus on oncology centers, hospitals, and research institutions engaged in cancer treatment research.

The company operates through the following segments:

• Research and Development. This segment encompasses all activities related to the discovery, preclinical testing, and clinical development of the Alpha DaRT® technology, including the design and execution of clinical studies across multiple tumor types such as squamous cell carcinoma, pancreatic cancer, glioblastoma, prostate cancer, and liver metastases.

• Manufacturing and Supply Infrastructure. This segment involves the production of Alpha DaRT® sources and applicators, including the extraction of Radium-224 from Thorium-228, assembly of radioactive sources, and development of specialized applicators for delivery into tumors. The company operates manufacturing facilities in Jerusalem, Israel, and Lawrence, Massachusetts, with ongoing development of a commercial-scale facility in Hudson, New Hampshire.

• Clinical Operations. This segment includes the management of ongoing clinical trials worldwide, patient recruitment, data collection, safety monitoring, and collaboration with medical institutions such as Memorial Sloan Kettering Cancer Center, Hadassah Medical Center, and Centre Hospitalier de l’Université de Montréal.

• Regulatory and Commercialization Strategy. This segment focuses on pursuing marketing authorizations from regulatory bodies such as the FDA, Israel’s Ministry of Health, and Japan’s Ministry of Health, Labour and Welfare, as well as establishing distribution agreements and planning for future commercial launch in the United States and other core markets.

Alpha Tau Medical Ltd. operates in the competitive field of local radiotherapy for solid tumors, facing competition from established radiation therapy modalities such as external beam radiotherapy, brachytherapy, proton therapy, and emerging technologies like Tumor-Treating Fields. The company differentiates itself through its proprietary Alpha DaRT® technology, which delivers alpha radiation via a decay-chain mechanism that enables deeper tumor penetration than conventional alpha particles while sparing healthy tissue. Its technology has demonstrated preclinical and clinical activity across multiple tumor types with no observed resistance, and it holds a robust patent portfolio of 140 issued patents and over 240 pending applications worldwide, providing a strong scientific and commercial foothold.

Alpha Tau Medical Ltd. serves hospitals, oncology centers, clinical research institutions, and healthcare providers involved in the treatment of solid tumors. Specific customer institutions mentioned in the filing include Memorial Sloan Kettering Cancer Center, Hadassah Medical Center in Jerusalem, Centre Hospitalier de l’Université de Montréal, Jewish General Hospital, Rambam Health Care Campus, Ohio State University Center, and Addenbrooke’s Hospital of the Cambridge University Hospitals NHS Trust.