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Alpha Tau Medical is developing a way to deliver radiation directly inside solid tumors. Its Alpha DaRT treatment uses single-use sources containing radium-224, inserted into the tumor to release alpha radiation locally. The company is testing the technology in clinical trials across several cancers.
It has not generated revenue and funds its work mainly by issuing shares, supplemented by government grants. Future product sales depend on completing development and obtaining the necessary marketing authorizations. Alpha DaRT is not authorized for U.S. marketing; the company has an Israeli marketing authorization but has not yet commercialized there.
Turning the treatment into a business also requires reliable manufacturing and distribution of radioactive sources, facilities and medical personnel able to administer it, and payment coverage that supports its use. Alpha DaRT has not obtained third-party-payor coverage or reimbursement, so regulatory authorization alone would not establish a paying market.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Alpha Tau Medical Ltd.'s results hinge on Alpha DaRT's clinical success, approvals and adoption against established local radiation treatments, including those supplied by Elekta and Siemens Healthineers' Varian.
Nanobiotix S.A. competes with Alpha Tau Medical Ltd. to improve local solid-tumor treatment: its JNJ-1900 (NBTXR3) particles amplify radiation's effects, while Alpha DaRT places radioactive sources inside tumors. Watch JNJ-1900's development progress; Nanobiotix remains focused on this candidate and may receive milestone payments under its Janssen agreement rather than commercial product sales.
Accuray Incorporated sells precision radiation-treatment systems that compete with Alpha Tau Medical Ltd.'s implanted Alpha DaRT sources for local solid-tumor treatment. Its CyberKnife sales and tumor-tracking developments are worth watching: the system directs radiation beams from a robotic arm and adjusts for movement, offering clinicians another way to limit radiation to healthy tissue.
Perspective Therapeutics, Inc. competes with Alpha Tau Medical Ltd. in alpha-radiation cancer treatment, but develops drugs delivered through the body rather than sources implanted in tumors. Watch its targeted alpha-drug clinical progress, not product revenue: its 2025 and 2024 grant revenue came from National Institutes of Health work, with no alpha-therapy product sales in either year.
NovoCure Limited already sells devices that use electric fields to disrupt cancer-cell division in brain, lung and pancreatic cancers, offering an alternative to indications Alpha Tau Medical Ltd. is developing Alpha DaRT to treat. Watch active-patient numbers and net revenue per active patient across its Optune devices: these drive sales of its tumor-treating-field therapy.
Oramed Pharmaceuticals Inc. is a financing source and influential shareholder for Alpha Tau Medical Ltd.: it held approximately 17% as of December 31, 2025 and March 26, 2026, and nominated two directors. Alongside pharmaceutical research, Oramed invests in healthcare businesses; its April 2025 share purchase supplied Alpha Tau with approximately $36.7 million in net proceeds, making Alpha Tau's valuation and future financing consequential to Oramed's investment business.
AngioDynamics, Inc. sells NanoKnife and Solero microwave systems that destroy tissue locally, competing with Alpha Tau Medical Ltd.'s Alpha DaRT tumor treatment. Watch news on those products rather than its broader cardiovascular business: NanoKnife destroys tissue with electrical pulses, while Solero uses microwave energy.
Profound Medical Corp.'s TULSA-PRO destroys prescribed prostate tissue with ultrasound, offering an alternative in a tumor area Alpha Tau Medical Ltd. is developing Alpha DaRT to address. Watch TULSA-PRO equipment sales and recurring revenue from single-use treatment devices and services, which show uptake of this MRI-guided approach.
Accuray Incorporated earningsARAY
Accuray's report will show demand for its precision radiation systems, which compete with Alpha Tau's Alpha DaRT for use in local treatment of solid tumors.
Watch CyberKnife system sales and developments in tumor tracking. Stronger sales would show that providers are continuing to adopt external-beam radiation systems, making competition for clinicians and treatment resources more tangible for Alpha DaRT; weaker sales would point to softer demand for this equipment, but would not establish Alpha DaRT's clinical performance or demand.
Alpha Tau Medical Ltd. earningsThis company
Alpha Tau Medical has no product-sales revenue, so this report shows how clinical and manufacturing spending is affecting its losses and cash.
Read research and development expense alongside cash used in operating activities, then check cash, short-term deposits and restricted deposits at period-end. Higher R&D spending with cash use still contained would indicate continued research without an immediate funding squeeze; rising spending alongside faster cash use would make additional financing more pressing for trials and manufacturing. The company estimates its existing cash will last at least two years, but that depends on assumptions that may prove wrong.
