Israeli Biotech Alpha Tau Medical Lists on Tel Aviv Stock Exchange
Translated & summarized from Bizportal by baba
Israeli biotech firm Alpha Tau Medical has listed on the Tel Aviv Stock Exchange to attract local investors, alongside its Nasdaq listing. The company, developing targeted alpha-particle radiation for cancer, has a market cap of approximately NIS 3.7 billion. CEO Uzi Sofer expects the first U.S. marketing approval application by early 2027, with potential approval by Q3 2027, and confirmed the company has sufficient funds and is not seeking immediate capital raises.
The story in 6 lines · by baba
- Alpha Tau Medical listed on the Tel Aviv Stock Exchange to increase local investor access and stock liquidity.
- The company is developing targeted alpha-particle radiation technology for cancer treatment.
- CEO Uzi Sofer anticipates the first U.S. marketing approval application by early 2027.
- The FDA recently approved doubling participants in a brain cancer trial due to promising results.
- Alpha Tau Medical currently holds approximately $105 million USD in cash reserves.
- Potential U.S. marketing approval for the first product could be granted by Q3 2027.
Israeli biotech firm Alpha Tau Medical, already trading on Nasdaq, has now listed on the Tel Aviv Stock Exchange (TASE) to increase its exposure to Israeli investors and improve stock liquidity. The company, which develops targeted alpha-particle radiation technology for cancer treatment, currently has a market cap of approximately NIS 3.7 billion ($1 billion USD). Its stock has surged about 155% on Nasdaq year-to-date, though it saw a 17% dip in the past month. Alpha Tau Medical is also expected to join the TA-90 and TA-125 indices, pending exchange approval.
Founder and CEO Uzi Sofer stated that despite the expansion, the company does not need to raise additional capital, holding approximately $105 million USD. He indicated that Alpha Tau Medical is progressing towards a significant milestone: submitting its first marketing approval application in the U.S. by early 2027. The company, founded in 2015 and based in Jerusalem, is developing its Alpha DaRT technology, which involves implanting tiny radiation sources directly into tumors to destroy cancer cells while minimizing damage to healthy tissue. Clinical trials are underway for various cancers, including brain, pancreatic, and skin cancer.
Recently, the U.S. Food and Drug Administration (FDA) approved doubling the number of participants in a brain cancer trial from 10 to 20. Sofer highlighted that initial results in this trial showed a complete response in two out of three patients, with their tumors disappearing. The company is preparing to present further trial data at an upcoming neuro-oncology conference in the U.S. and anticipates publishing pivotal trial results for skin cancer early next year, which could lead to a marketing approval application submission to the FDA by early 2027. If successful, the first U.S. marketing approval could be granted by Q3 2027.
