Actinium Pharmaceuticals, Inc. (ATNM): History, Ownership, Mission, How It Works & Makes Money

When you look at a biotech like Actinium Pharmaceuticals, Inc. (ATNM), the question isn't just what they do, but how a company with a market capitalization of roughly $38.99 million as of November 2025 can disrupt multi-billion-dollar oncology markets. This pioneer in targeted radiotherapies is leveraging the potent alpha-emitter Actinium-225 to deliver a knockout punch to cancer cells, a strategy that drove a stock surge of over 38 percent in a single day earlier this year following positive clinical data. You need to understand the mechanics of their lead candidate, Actimab-A, and its potential to be a backbone therapy in Acute Myeloid Leukemia (AML) to defintely grasp why analysts forecast revenue growth of 69.4% per year, even as the company manages a trailing twelve-month net loss of $41.036 million.

Actinium Pharmaceuticals, Inc. (ATNM) History

If you're looking at Actinium Pharmaceuticals, Inc. (ATNM), you need to understand that its current focus on targeted radiotherapies is the result of a deliberate, multi-year pivot away from its initial corporate structure. This isn't a typical startup story; it's an evolution from a subsidiary into a specialized, publicly-traded biotech firm, sharply focused on the alpha-emitter Actinium-225.

The company's trajectory shows a clear commitment to its lead candidates, Iomab-B and Actimab-A, plus a recent, significant expansion into new solid tumor opportunities. Here's the quick math on their foundation and evolution.

Given Company's Founding Timeline

Year established

The entity was incorporated in Delaware on August 17, 2000, initially operating as a subsidiary of Antigenics Inc. (now Agenus Inc.). The company began trading as an independent public entity (ATNM) following a spin-off in 2013, which is the true start of its current chapter.

Original location

Actinium Pharmaceuticals established its headquarters in New York, New York, where it continues to operate today.

Founding team members

While the initial entity was a subsidiary, the strategic direction of the independent, spun-off company was cemented by its post-2013 leadership. Key figures steering the company's strategy have included Sandesh Seth as Chairman and Chief Executive Officer, alongside Steve O'Loughlin as Chief Financial Officer.

Initial capital/funding

The company's first public funding round was a $4.13 million Post IPO round in October 2011, prior to the spin-off. More recently, in a sign of external validation for specific programs, the company secured a Grant (prize money) of $2.11 million in September 2020.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's history is defined by two major pivots: the 2013 spin-off and the strategic pipeline expansion in 2025. The spin-off was the necessary step to become a pure-play radiopharmaceutical company, but the 2025 moves truly signal a new growth phase.

The most recent transformative moment is the aggressive expansion of its drug development pipeline, which is defintely a high-risk, high-reward strategy. It's moving beyond its core hematology focus (Iomab-B and Actimab-A) into solid tumors, which represents a much larger market.

• Diversification into Solid Tumors: The unveiling of ATNM-400 for prostate cancer in March 2025 marked a clear shift, leveraging their Actinium-225 platform for a non-PSMA target.
• Financial Discipline and Runway: Despite a net loss of approximately $22.816 million for the six months ended June 30, 2025, the company reported $61.029 million in cash and cash equivalents. This cash position, plus the expected $3.7 million in personnel expense savings for the year, gives them the runway to execute their expanded 2025 clinical objectives.
• Manufacturing Control: A key 2025 objective is establishing in-house radiopharmaceutical manufacturing infrastructure, including their proprietary Actinium-225 cyclotron technology. This is a critical move to control supply chain and costs for their expanding trials.

These actions show a company transitioning from late-stage clinical development to commercial readiness and pipeline diversification. You can read more about their forward-looking strategy here: Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).

Actinium Pharmaceuticals, Inc. (ATNM) Ownership Structure

Actinium Pharmaceuticals, Inc. (ATNM) operates with a highly concentrated ownership structure for a publicly traded, late-stage biopharmaceutical company, with a large portion of shares held by retail investors and key strategic holders.

The company is publicly traded on the NYSE American under the ticker symbol ATNM, with a market capitalization of approximately $39.31 million as of November 2025. This small-cap status means the stock can be more volatile, so you defintely need to watch the trading volume.

Given Company's Current Status

Actinium Pharmaceuticals is a public company, listed on the NYSE American exchange.

As a biopharma company focused on targeted radiotherapies, its market value is tied heavily to clinical trial milestones and regulatory progress for its lead product candidates, Iomab-B and Actimab-A.

The company's market capitalization was approximately $39.31 million as of November 7, 2025, reflecting a significant decline from the prior year, which is a common risk in the clinical-stage biotech space.

For a deeper dive into the company's long-term goals, you can review their Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).

Given Company's Ownership Breakdown

The ownership structure is characterized by a high public float, but with critical strategic holdings that exert significant influence. Here's the quick math on the breakdown based on 2025 fiscal year data:

What this estimate hides is the impact of major strategic shareholders. For example, Memorial Sloan Kettering Cancer Center holds a significant percentage, which, while sometimes classified as an insider or strategic holding, is not part of the standard 1.45% executive/director figure and represents a key stakeholder interest in the company's technology.

Given Company's Leadership

The leadership team, with an average tenure of 4.2 years, provides a blend of deep industry experience in oncology and financial acumen, which is essential for a company navigating the complex regulatory and commercial landscape of radiopharmaceuticals.

• Sandesh Seth: Chief Executive Officer (CEO) and Chairman of the Board. He has a tenure of over 8 years in the CEO role, providing long-term strategic continuity.
• Avinash Desai, M.D.: Chief Medical Officer (CMO), steering the clinical development programs for candidates like Iomab-B.
• Steve O'Loughlin: Chief Financial Officer (CFO), managing the financial strategy and capital allocation for the late-stage pipeline.
• Lynn Bodarky: Chief Business Officer (CBO), focusing on commercial strategy and market access.
• Paul Diamond, Ph.D., Esq.: Vice President, Legal and Intellectual Property Counsel, critical for protecting the company's 230 patents and patent applications related to its technology.

The board is led by Sandesh Seth and includes Lead Independent Director C. David Nicholson, Ph.D., who brings substantial R&D leadership experience from large pharma companies.

Actinium Pharmaceuticals, Inc. (ATNM) Mission and Values

Actinium Pharmaceuticals, Inc. is fundamentally driven by the goal of transforming cancer treatment through targeted radiotherapies (ARCs), focusing on patients with advanced, relapsed, or refractory disease who have run out of other options. This mission is the lens through which they manage a $45.5 million market capitalization and a trailing 12-month net loss of $41.036 million as of mid-2025, showing their commitment to long-term R&D over near-term profit.

Given Company's Core Purpose

You're looking past the balance sheet to see what Actinium Pharmaceuticals is defintely trying to achieve, and the core purpose is clear: pioneering a new class of cancer treatment. They are a biopharmaceutical company developing targeted radiotherapies for patients with cancers that lack effective treatment options, like Acute Myeloid Leukemia (AML) and prostate cancer.

This purpose is expensive, but it's a necessary investment in their pipeline. For the trailing 12 months ending June 30, 2025, the company reported an EBITDA loss of $43.432 million, which reflects the high cost of advancing clinical-stage product candidates like Actimab-A and ATNM-400. Their total assets were $63.017 million for the same period, showing the capital tied up in this high-stakes development.

• Develop first-in-class targeted radiotherapies.
• Improve survival for patients with relapsed or refractory cancer.
• Address high unmet medical needs in hematology and solid tumors.

Here's the quick math: a big loss now for a potential breakthrough later. You can find more details on this development philosophy at Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).

Official mission statement

The company's mission is to develop targeted radiotherapies intended to meaningfully improve patient outcomes for those with advanced cancers, specifically focusing on relapsed or refractory (r/r) disease where existing therapies have failed. This means focusing on Iomab-B for bone marrow transplant conditioning and Actimab-A for myeloid malignancies.

• Pioneer targeted radiotherapies (Antibody Radiation Conjugates).
• Transform the treatment of AML and patient outcomes.
• Leverage the mutation-agnostic killing ability of Actinium-225 (Ac-225).

Vision statement

Their vision is a clear business strategy built around this mission. Actinium Pharmaceuticals aims to build a specialty, hospital-focused, radiotherapeutics company. This means they are targeting the development and marketing of medicines for patients treated primarily in large quaternary care hospitals and their catchment areas.

• Focus on top 100 large hospitals for commercial strategy.
• Develop medicines for quaternary care hospital settings.
• Achieve high operating efficiencies without needing a commercial partner.

Given Company slogan/tagline

The simplest distillation of their work, often used on their corporate materials, is: Targeted Radiotherapies for Patients with Unmet Needs.

Actinium Pharmaceuticals, Inc. (ATNM) How It Works

Actinium Pharmaceuticals, Inc. operates by developing targeted radiotherapies, specifically Antibody Radiation Conjugates (ARCs), which function like a smart bomb by using a monoclonal antibody to precisely deliver a cell-killing radioisotope directly to cancer cells. This proprietary technology aims to improve survival for patients with advanced cancers by minimizing systemic toxicity compared to traditional chemotherapy or external radiation.

Actinium Pharmaceuticals' Product/Service Portfolio

The company's value is currently driven by a late-stage pipeline focused on hematologic malignancies and expanding into solid tumors and cell and gene therapy conditioning, a defintely high-growth area.

Actinium Pharmaceuticals' Operational Framework

The operational process is centered on the research and clinical development of Antibody Radiation Conjugates (ARCs), but the financial model is heavily focused on strategic partnerships to manage the high costs of clinical trials and manufacturing. For the six months ended June 30, 2025, the company reported a Net Loss of $(22.816) million, so managing cash burn is critical.

Here's the quick math: As of June 30, 2025, Cash and Cash Equivalents stood at $59.928 million, which is expected to fund operations into the second half of 2026, meaning every partnership dollar is essential.

• R&D and Clinical Execution: Focus on advancing Iomab-B through the new Phase 3 trial requested by the FDA and moving Actimab-A into an operationally seamless Phase 2/3 trial.
• Strategic Outsourcing: Utilizing a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for Actimab-A, where the NCI covers trial execution and development expenses, which has a material balance sheet sparing impact.
• Supply Chain Control: Establishing radiopharmaceutical manufacturing infrastructure in 2025 to support expanding clinical trials and to leverage its proprietary Actinium-225 cyclotron manufacturing technology.
• Value Realization: Actively seeking a U.S. strategic partner for Iomab-B to execute the new Phase 3 head-to-head study and maximize the value of its hematology portfolio.

Actinium Pharmaceuticals' Strategic Advantages

The company's primary edge comes from its technology platform and strategic alliances, which position it in the high-value, emerging radiotherapeutics market.

• Alpha-Emitter Expertise: Actinium Pharmaceuticals is a pioneer in using the potent alpha-emitter Actinium-225 (Ac-225), which delivers a high-energy, short-range radiation payload that is highly effective at killing cancer cells while sparing surrounding healthy tissue.
• Pipeline Breadth: The expansion into solid tumors with ATNM-400 and cell/gene therapy conditioning with Iomab-ACT diversifies the risk beyond the core relapsed/refractory AML indication for Iomab-B.
• Government Partnership: The NCI CRADA for Actimab-A provides non-dilutive funding, clinical expertise, and validation from a top-tier government institution, a significant advantage over smaller biotechs.
• Targeted Conditioning: Iomab-B and Iomab-ACT offer a potentially less toxic, more efficient conditioning regimen for BMT and cell therapies, which addresses a major unmet need in a market where commercial CAR-T sales exceeded $3.5 billion in 2023.

To understand the long-term vision guiding these strategic moves, review the Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).

Actinium Pharmaceuticals, Inc. (ATNM) How It Makes Money

Actinium Pharmaceuticals, Inc. operates as a clinical-stage biopharmaceutical company, so it doesn't generate significant revenue from product sales yet. The company's financial engine is currently fueled by strategic financing, grant income, and the recognition of deferred license revenue from past partnerships, all aimed at advancing its targeted radiotherapies pipeline.

Actinium Pharmaceuticals, Inc.'s Revenue Breakdown

You need to understand that for a company like Actinium Pharmaceuticals, revenue isn't the primary metric right now; cash burn and pipeline milestones are. As of the 2025 fiscal year, the company is pre-commercial, meaning its revenue streams are minimal and non-recurring from a product standpoint. Here's the quick math based on the Q3 2025 results.

Total revenue reported for the third quarter of 2025 was only $90,000, derived entirely from grant income. Analyst consensus for the full 2025 fiscal year revenue is actually $0, reflecting the minimal and non-product-based nature of their current income. The real financial value is locked in their pipeline and deferred revenue.

Business Economics

The core economic model for Actinium Pharmaceuticals is a classic biotech development play: invest heavily in research and development (R&D) to create high-value assets, then monetize them through either regulatory approval and commercialization (product sales) or through lucrative licensing deals. This model requires constant capital raising to sustain operations.

• R&D as Investment: The company's primary expense is R&D, which was $4.25 million in Q3 2025 alone, a necessary cost to advance its targeted radiotherapies (drugs that use radiation to kill cancer cells).
• Deferred Revenue: Actinium Pharmaceuticals holds a long-term deferred license revenue balance of $35 million tied to potential European Union regulatory outcomes for its lead candidate, Iomab-B. This is future, non-cash revenue that will be recognized upon hitting specific milestones, not current cash flow.
• High-Value Pipeline: The value proposition rests on Iomab-B (Phase III for Acute Myeloid Leukemia, or AML) and Actimab-A, which uses the potent alpha-emitting isotope Actinium-225 (Ac-225). Success in the pivotal SIERRA trial for Iomab-B is the key catalyst for a massive shift in their revenue profile.
• Manufacturing Strategy: They are establishing internal radiopharmaceutical manufacturing infrastructure in 2025, which will defintely help control the supply chain and costs for their Ac-225-based programs like ATNM-400.

To understand the strategic direction that guides these investment decisions, you should review their Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).

Actinium Pharmaceuticals, Inc.'s Financial Performance

When you look at a clinical-stage biotech, you're not evaluating profitability; you're assessing cash runway and burn rate. Actinium Pharmaceuticals is forecast to remain unprofitable over the next three years, which is typical for this stage.

• Net Loss: The consensus analyst forecast for the full 2025 fiscal year projects a net loss of approximately -$42.5 million. This is the cost of developing a potential blockbuster drug.
• Q3 2025 Loss: The company reported a net loss of $5.1 million for the third quarter of 2025, or a loss of $0.16 per share. This loss was lower than the previous year, partly due to operating expenses falling to $5.8 million.
• Cash Position (Runway): As of September 30, 2025, the company held cash and cash equivalents of $53.4 million. This cash position is critical, as it determines how long they can fund operations without raising more capital. Operating cash use for the first nine months of 2025 was $19.3 million.
• Valuation Context: Despite the losses, the average analyst price target is $4.50 per share, representing a significant forecasted upside from the current price, based entirely on the future commercial potential of the pipeline.

Actinium Pharmaceuticals, Inc. (ATNM) Market Position & Future Outlook

Actinium Pharmaceuticals is positioned as a high-risk, high-reward pre-commercial biotech focused on targeted radiotherapies, particularly in the rapidly expanding alpha-emitter space. Its future hinges on the successful commercialization of its lead candidate, Iomab-B, which is anticipated to have a potential regulatory approval in 2025, and the expansion of its proprietary Actinium-225 (Ac-225) pipeline into solid tumors.

Competitive Landscape

In the specialized therapeutic radiopharmaceutical market, Actinium Pharmaceuticals is pre-commercial, meaning its market share is currently negligible, but its competitive advantage lies in its unique technology and targeted indications. The global radiopharmaceuticals market was valued at approximately $6.75 billion in 2024 and is expected to grow significantly, which is the prize Actinium is chasing.

Actinium's lead candidate, Iomab-B, targets a high-unmet-need population-older patients with relapsed or refractory Acute Myeloid Leukemia (r/r AML) who are often ineligible for a bone marrow transplant (BMT). This means it has no direct, targeted radiotherapeutic competitor in this specific conditioning setting, which is a massive advantage.

Opportunities & Challenges

The company's strategy is clear: secure Iomab-B approval and expand the proprietary Actinium-225 platform into new, multi-billion-dollar markets like solid tumors. Here's the quick math on the near-term landscape.

Industry Position

Actinium Pharmaceuticals is a key innovator in the therapeutic radiopharmaceutical space, differentiating itself by focusing on the powerful alpha-emitter Actinium-225 (Ac-225). This isotope delivers a higher-energy, shorter-range radiation dose compared to the beta-emitters (like Lutetium-177) used by competitors like Novartis, which could translate to greater efficacy and lower systemic toxicity in certain cancers.

• Iomab-B Efficacy: The pivotal Phase 3 SIERRA trial demonstrated a 12-times greater post-BMT Complete Remission rate compared to the control arm in r/r AML patients.
• Financial Runway: As of June 30, 2025, the company reported $61.0 million in cash and cash equivalents, which is defintely critical for funding ongoing clinical trials and manufacturing scale-up, especially with a net loss of $(22.8) million for the first half of 2025.
• Growth Trajectory: Analysts project significant future growth, with revenue forecast to increase by 69.4% per annum as pipeline candidates advance.

The company holds over 230 patents and patent applications, including those related to Ac-225 production, securing its position in the alpha-emitter supply chain. The strategic initiative to develop Iomab-ACT for conditioning in cell and gene therapy (CAR-T, Sickle Cell Disease) also positions the company to capture a share of that rapidly expanding, multi-billion-dollar market. You can read more about their core business focus here: Mission Statement, Vision, & Core Values of Actinium Pharmaceuticals, Inc. (ATNM).