u/Efferdent_FTW

This announcement was n=3, so a tiny pool. As was spoken about in the call, car T cell therapy also wiped out tumour size, but it came back. The median time is 1-3 months of return. Patients were treated with darts between Dec 2025 - March 2026. Data cut off was May 3rd, so we're 2-4 months from treatment date to data cut off. As of right now, no tumour return, but there's still a window. Alpha Tau hasn't cured GBM....yet, BUT they are in the right direction.

This was a feasibility and safety study. ~20% increase from objectively weak data is astounding. Let's cross our fingers and count down the days to ASCO.

My friend's dad passed from pancreatic cancer 3 years ago. It was a really tough road for their family and hope was a really powerful thing.

Company called Alpha Tau just presented data on a treatment that delivered 100% local disease control across every evaluable patient. Including people who already failed multiple rounds of chemo. The procedure is outpatient. Side effects mostly cleared within 2 weeks.

Its called Alpha DaRT and their ASCO presentation coming next month. It's in really early stages, but I'm praying this can bring hope to those who need it.

The next biggest hurdle for DRTS is the triggering of the abscopal effect. What is that? So what we know is that the alpha darts destroy tumour cells with alpha radiation which obliterates double stranded DNA. The dying cells release damage-associated molecular patterns (DAMPs) and tumour antigens that activate dendritic cells and cytotoxic T cells and stimulate the immune system to attack similar cells, serving as a "cancer vaccine" which is crucial for small distant metastases and remission. This is called the abscopal effect. In order for alpha darts to be seen as truly ground breaking, this absolutely needs to be triggered.

I think this call will demonstrate the successes of not only complete tumour regression, but also show data regarding immune markers indicating the abscopal effect is triggered. Here's to hoping!

I think it's important to look at the macro view of what a company brings and what that value actually means in the grand scheme of historic inner-industry comparisons. I did a semi-deep dive. When running the stats of 300-400M cap biotech that develop oncology drug treatments, only 3.3% make it from phase 1 to approval. Once a drug reaches phase 3, approval jumps to 35.5%. Median time spent in oncology clinical development is 13.1 years.

This all changes depending on response rates in Phase 1 studies. It needs >40% response rate in phase 1. Now this is where the data gets interesting because these are pharmaceutical interventions, not physics-based interventions. When looking at physics-based interventions, three out of four alpha-emitter small-caps that went through similar development were acquired. The fourth was still acquired despite disappointing Phase 3 data. Why? Because large pharma wanted the moat. They want the manufacturing infrastructure and IP.

Let's look at DRTS. The patented seed-design covers the specific mechanism of using Ra-224's decay chain which expands alpha irradiation from microns to millimeters. This is the foundation of the treatment. The moat is the 150+ patents that include the engineering, clinical buildout, seed construction, treatment planning system, delivery device engineering, combination therapy protocols, and more. The treatment planning system includes their dosimetry algorithm outlining seed placement given tumor geometry. That's the treatment roadmap. These not only form the moat, but that moat is deep and wide.

But wait, there's more. They are also buying the regulatory approvals and designations which the FDA has already granted for cutaneous squamous cell carcinoma, recurrent squamous cell carcinoma of the oral cavity and recurrent gliobastoma. Also, the manufacturing infrastructure, licensed facility and the clinical data set.

Let's look at historic winners and losers:

NovoCure had a $400M cap, uses a physics based approach, used the same multi-indication expansion strategy (started with recurrent squamous cell skin carcinoma then moved to pancreatic and GBM). Current market cap $8B.

RayzeBio, raised $160M + $311M IPO, used actinium-225 (alpha emitting isotope), early Phase 1b data showed encouraging efficacy and tolerability. Acquired by BMS before Phase 3 results were in.

Tokai Pharmaceuticals, compelling Phase 2, valid mechanism, designed their Phase 3 to go head to head against the category leader. Data monitoring committee determined the trial was unlikely to meet primary endpoint. Shares tumbled 70%. DRTS avoids this by having 5 concurrent US trials across different indications instead of binary readout.

Sorrento, filed for bankruptcy amid mounting debt and ongoing lawsuits. Clinical-stage companies burn through $100M a year without revenue. DRTS is not immune to this.

I wrote this post personally with research done with claude, where I checked the sources to verify. The next two months is crucial. Announcement of podium speech at AHNS is huge. ASCO is promising, not a Plenary Session, but poster presentations aren't often seen as ground-breaking. This can likely be because of the stage of the research as opposed to the mechanism itself.

What do we think will happen with MU next week with these beefy earnings calls?