Detailed financial statements for Actinium Pharmaceuticals, Inc. (ATNM): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Actinium Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing and commercializing treatments, primarily focusing on those for bone marrow transplant (BMT) or other cellular and adoptive cell therapies. Its leading drug candidate, I-131 apamistamab (known as Iomab-B), is currently in a crucial Phase III clinical trial for its role in conditioning elderly patients with relapsed or refractory acute myeloid leukemia prior to BMT.
Analysis Summary
Trailing-twelve-month margins: gross margin 101.1%, operating margin 27.2%, net margin 32.2%.
At the current price of $1.24, ATNM trades at a P/E of 4.33 and an ROE of 83.42%. Market capitalisation stands at $39M.
Balance sheet quality for ATNM: current ratio of 6.2, net cash position of $46.3M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | $1.1M | $1.0M | $81000 | 0 | $90000 |
| Cost of Revenue | $77523 | $55938 | $50721 | $420089 | $447000 | $524000 | 0 | 0 | $811000 | 0 |
| Gross Profit | -$77523 | -$55938 | -$50721 | -$420089 | -$447000 | $620000 | $1.0M | $81000 | -$811000 | $90000 |
| Research & Development | $17.5M | $17.7M | $17.1M | $16.5M | $16.1M | $17.5M | $23.1M | $38.7M | $30.0M | $21.1M |
| Selling, General & Admin | $9.3M | $9.2M | $6.7M | $5.1M | $6.3M | $8.1M | $12.0M | $13.3M | $12.1M | $15.2M |
| Operating Expenses | $26.8M | $26.9M | $23.8M | $21.7M | $21.9M | $25.6M | $35.1M | $52.0M | $41.3M | $36.3M |
| Operating Income | -$26.8M | -$26.9M | -$23.8M | -$22.1M | -$22.4M | -$25.0M | -$34.1M | -$51.9M | -$42.1M | -$36.2M |
| EBITDA | -$26.8M | -$26.9M | -$23.8M | -$21.5M | -$21.8M | -$24.2M | -$32.3M | -$48.0M | -$37.4M | -$33.1M |
| Interest Expense | $5007 | $5430 | $173359 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Income | -$24.3M | -$26.6M | -$23.7M | -$21.9M | -$22.2M | -$24.8M | -$33.0M | -$48.8M | -$38.2M | -$33.9M |
| Income Tax | $5007 | 0 | $173359 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$24.3M | -$26.6M | -$23.7M | -$21.9M | -$22.2M | -$24.8M | -$33.0M | -$48.8M | -$38.2M | -$33.9M |
| EPS | $-15.06 | $-11.96 | $-6.69 | $-4.37 | $-1.83 | $-1.20 | $-1.37 | $-1.83 | $-1.27 | $-1.09 |
| EPS (Diluted) | $-15.06 | $-11.96 | $-6.69 | $-4.37 | $-1.83 | $-1.20 | $-1.37 | $-1.83 | $-1.27 | $-1.09 |
| Shares Outstanding (Diluted) | $1.6M | $2.2M | $3.5M | $5.0M | $12.1M | $20.6M | $24.1M | $26.6M | $30.1M | $31.2M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.5M | $17.4M | $13.7M | $9.3M | $63.6M | $77.8M | $108.9M | $76.7M | $72.9M | $48.0M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $22.4M | $17.8M | $14.3M | $10.1M | $64.9M | $79.7M | $110.9M | $78.3M | $74.5M | $49.4M |
| Property, Plant & Equipment | $88549 | $57350 | $118799 | $1.1M | $1.0M | $639000 | $2.9M | $2.9M | $2.1M | $2.1M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $22.5M | $18.3M | $14.9M | $11.7M | $66.4M | $80.4M | $114.2M | $81.4M | $76.9M | $51.8M |
| Accounts Payable | $4.2M | $4.7M | $5.8M | $4.6M | $4.3M | $5.5M | $10.1M | $8.0M | $7.6M | 0 |
| Short-term Debt | 0 | 0 | $249239 | $381000 | $427000 | 0 | 0 | $541000 | 0 | $722000 |
| Total Current Liabilities | $4.5M | $4.7M | $6.1M | $5.3M | $4.8M | $6.8M | $10.6M | $8.5M | $8.1M | $8.0M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $4.5M | $4.7M | $6.1M | $6.0M | $5.1M | $6.8M | $47.7M | $45.1M | $44.1M | $43.9M |
| Retained Earnings | -$136.6M | -$163.2M | -$186.9M | -$208.8M | -$231.0M | -$255.7M | -$288.8M | -$337.6M | -$375.8M | -$409.7M |
| Total Equity | $18.0M | $13.7M | $8.8M | $5.6M | $61.3M | $73.5M | $66.5M | $36.4M | $32.8M | $7.8M |
| Total Debt | 0 | 0 | $262593 | $1.4M | $738000 | $310000 | $2.6M | $2.1M | $1.6M | $1.7M |
| Net Debt | -$20.5M | -$17.4M | -$13.4M | -$7.8M | -$62.9M | -$77.5M | -$106.3M | -$74.6M | -$71.3M | -$46.3M |
| Working Capital | $17.9M | $13.2M | $8.3M | $4.7M | $60.2M | $72.9M | $100.3M | $69.8M | $66.4M | $41.4M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$24.3M | -$26.6M | -$23.7M | -$21.9M | -$22.2M | -$24.8M | -$33.0M | -$48.8M | -$38.2M | -$33.9M |
| Depreciation & Amortization | $77523 | $55938 | $50721 | $420089 | $447000 | $524000 | $699000 | $790000 | $811000 | $821000 |
| Stock-based Compensation | $4.3M | $3.5M | $1.8M | $1.3M | $1.3M | $1.7M | $2.8M | $3.8M | $5.3M | $9.2M |
| Change in Working Capital | $1.7M | $1.8M | $1.2M | -$1.3M | -$1.1M | $1.7M | $38.2M | -$3.1M | -$932000 | -$704000 |
| Operating Cash Flow | -$20.8M | -$21.6M | -$20.6M | -$21.5M | -$21.6M | -$20.9M | $8.6M | -$47.3M | -$33.1M | -$24.6M |
| Capital Expenditure | -$59960 | -$24739 | -$96092 | -$63893 | -$253000 | -$133000 | -$366000 | -$153000 | -$11000 | -$104000 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$207000 |
| Dividends Paid | 0 | 0 | 0 | -$1269 | -$1000 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$20.8M | -$21.6M | -$20.7M | -$21.5M | -$21.9M | -$21.0M | $8.3M | -$47.5M | -$33.1M | -$24.7M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -10.0% | -92.1% | -100.0% | |||||||
| Net Income Growth (YoY) | -9.4% | +11.1% | +7.4% | -1.4% | -11.5% | -33.3% | -47.9% | +21.7% | +11.4% | |
| EPS Growth (YoY) | +20.6% | +44.1% | +34.7% | +58.1% | +34.4% | -14.2% | -33.6% | +30.6% | +14.2% | |
| Shares Change (YoY) | +37.8% | +58.9% | +40.8% | +143.9% | +69.5% | +17.4% | +10.2% | +13.0% | +3.7% | |
| FCF Growth (YoY) | -3.5% | +4.2% | -4.2% | -1.6% | +4.0% | +139.4% | -673.7% | +30.3% | +25.4% | |
| Gross Margin | 54.2% | 100.0% | 100.0% | 100.0% | ||||||
| Operating Margin | -2182.2% | -3311.1% | -64098.8% | -40274.4% | ||||||
| EBITDA Margin | -2119.8% | -3137.7% | -59293.8% | -36740.0% | ||||||
| Net Margin | -2165.6% | -3205.5% | -60269.1% | -37652.2% | ||||||
| FCF Margin | -1835.6% | 803.7% | -58627.2% | -27426.7% | ||||||
| Effective Tax Rate | -0.0% | -0.0% | -0.7% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-12.91 | $-9.70 | $-5.85 | $-4.33 | $-1.80 | $-1.02 | $0.34 | $-1.78 | $-1.10 | $-0.79 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $1.6M | $2.2M | $3.5M | $5.0M | $12.1M | $20.6M | $24.1M | $26.6M | $30.1M | $31.2M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | 83.42% |
| Return on Invested Capital | 30.20% |
| Return on Assets | 28.16% |
| Gross Margin | 101.13% |
| Operating Margin | 27.23% |
| Net Margin | 32.23% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 4.08 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -1.74 | -1.66 | -1.74 | -1.49 | -4.26 | -5.01 | -7.77 | -2.78 | -0.99 | -1.25 |
| P/B | 2.35 | 3.24 | 4.66 | 5.76 | 1.54 | 1.68 | 3.87 | 3.72 | 1.16 | 5.42 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 108.05 | 249.62 | 1668.50 | 0.00 | 471.40 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 54.2% | 100.0% | 100.0% | 0.0% | 100.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -2182.2% | -3311.1% | -64098.8% | 0.0% | -40274.4% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -2165.6% | -3205.5% | -60269.1% | 0.0% | -37652.2% |
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Explore sector: Healthcare · Biotechnology
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