Logo

ATHE

Alterity Therapeutics Limited

ATHE

Alterity Therapeutics Limited • NASDAQ
$3.60 ▼ -4.76% (-0.18)
Market Cap $32.63 M
52w High $7.00
52w Low $1.41
Dividend Yield 0%
P/E -5.62
Volume 5.97K
Outstanding Shares 9.06M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $3.833M ▲ $10.857M ▲ $-4.974M ▲ -129.781% ▲ $-0.42 ▲ $-7.107M ▲
Q2-2025 $1.606M ▼ $9.028M ▼ $-7.173M ▲ -446.679% ▲ $-0.84 ▲ $-7.526M ▲
Q4-2024 $2.119M ▲ $14.984M ▲ $-12.616M ▼ -595.512% ▼ $-1.2 ▲ $-14.615M ▼
Q2-2024 $1.901M ▲ $8.445M ▲ $-6.507M ▼ -342.353% ▲ $-1.56 ▼ $-8.334M ▼
Q4-2023 $1.53M $7.721M $-5.775M -377.302% $-1.44 $-7.25M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $40.659M ▲ $46.026M ▲ $3.623M ▲ $42.403M ▲
Q2-2025 $4.537M ▼ $10.547M ▼ $2.761M ▼ $7.786M ▼
Q4-2024 $12.639M ▲ $19.224M ▼ $5.426M ▲ $13.798M ▼
Q2-2024 $12.32M ▼ $22.193M ▼ $4.569M ▲ $17.623M ▼
Q4-2023 $15.774M $27.318M $4.505M $22.813M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $0 ▲ $-2.355M ▲ $-7.5M ▼ $25.242M ▲ $15.202M ▲ $-2.355M ▲
Q2-2025 $-7.173M ▲ $-8.36M ▼ $0 ▲ $369.319K ▼ $-4.746M ▼ $-8.36M ▼
Q4-2024 $-12.616M ▼ $-8.111M ▼ $-722 ▲ $8.166M ▲ $318.459K ▲ $-8.111M ▼
Q2-2024 $0 $-4.495M ▲ $-1K ▲ $970K ▲ $-4.389M ▲ $-4.864M ▲
Q4-2023 $0 $-10.111M $-26.584K $-12.762K $-25.338M $-6.205M

Five-Year Company Overview

Income Statement

Income Statement Alterity looks like a classic early‑stage biotech: essentially no meaningful product revenue yet and a steady pattern of operating losses. The losses appear relatively stable over the past several years rather than exploding higher, which suggests disciplined cost control, but the business is still firmly in the “spending to develop drugs” phase, not the “earning from products” phase. Earnings per share have been negative every year, though the trend shows some gradual improvement, likely helped by tighter costs and capital raisings that spread losses across more shares. From an income‑statement view, this is a development story, not an earnings story.

Balance Sheet

Balance Sheet The balance sheet is small and lean, with modest total assets and very little in the way of tangible operating infrastructure. A notable strength is the absence of financial debt, which reduces balance‑sheet risk and interest burden. Cash and equivalents make up most of the assets, and that cash level has moved around over time, reflecting periods of capital raising and subsequent spending on research. Shareholders’ equity is positive but thin, so the company has a limited cushion to absorb prolonged losses without further funding. Overall, it’s a clean but fragile balance sheet that depends on continued access to capital markets or partners.

Cash Flow

Cash Flow Cash flow reflects the company’s stage: money consistently flowing out from operations to fund research and corporate costs, and essentially nothing going into long‑term assets. Operating and free cash flow are both negative but relatively steady, indicating that spending is controlled and not rapidly accelerating. With almost no capital expenditure, nearly all cash burn is tied directly to running trials and the business. The key implication is that the company’s runway is finite and will need to be refreshed through new financing or partnerships as development continues.

Competitive Edge

Competitive Edge Alterity is trying to differentiate itself in a crowded neurodegenerative disease field with a distinctive scientific approach: managing excess iron and toxic protein build‑up in the brain rather than just treating symptoms. Its lead candidate, ATH434, targets a rare and severe disorder (Multiple System Atrophy) where there are no approved disease‑modifying treatments, which gives the company a clearer competitive lane than if it focused first on broad Parkinson’s disease. Orphan drug designations and a growing patent estate add regulatory and intellectual‑property protection, potentially creating a moat if the drug succeeds. Positive mid‑stage trial signals are encouraging, but competition from larger pharma in neurodegeneration remains intense, and Alterity’s small size limits its commercial reach without partners.

Innovation and R&D

Innovation and R&D Innovation is the central asset here. Alterity’s core idea—using an “iron chaperone” to redistribute excess iron and reduce toxic protein aggregates—offers a novel way to slow disease progression rather than just ease symptoms. The company is still at the clinical‑stage, but early trial results in Multiple System Atrophy suggest the mechanism may be working and is generally well tolerated. Beyond the lead asset, Alterity has a discovery platform designed to generate additional candidates for neurological diseases, which could create a pipeline rather than a single‑drug story. The R&D model appears focused and capital‑efficient, but it carries the usual binary risks of drug development: late‑stage trials, regulatory decisions, and the challenge of turning strong science into real‑world treatment adoption.

Summary

Alterity Therapeutics is a small, clinical‑stage biotech focused on neurodegenerative diseases, operating with minimal revenue and ongoing losses as it invests in drug development. Its finances are straightforward: no debt, a modest cash pool, a thin equity base, and a steady, manageable cash burn that will still require future funding. The company’s value proposition lies almost entirely in its science—especially ATH434 and its novel iron‑redistribution strategy—backed by patents and orphan drug status in a disease with large unmet need. The opportunity is significant if later‑stage trials succeed, but the risks are equally high, given the early stage, dependence on external funding, and the inherent uncertainty of neurological drug development. This is best viewed as a high‑risk, high‑uncertainty research platform rather than a traditional operating business at this stage.

NEWS

November 12, 2025 · 7:25 AM UTC

Alterity Therapeutics to Present at the Bell Potter Healthcare Virtual Conference

Read more

October 31, 2025 · 7:25 AM UTC

Alterity Therapeutics: Appendix 4C – Q1 FY26 Quarterly Cash Flow Report

Read more

October 9, 2025 · 7:25 AM UTC

Alterity Therapeutics Presents Positive Data from ATH434 Phase 2 Trial at the 2025 International Congress of Parkinson's Disease and Movement Disorders

Read more

October 2, 2025 · 7:35 AM UTC

Alterity Therapeutics to Deliver Multiple Presentations at the 2025 International Congress of Parkinson's Disease and Movement Disorders

Read more

September 8, 2025 · 7:35 AM UTC

Alterity Therapeutics Raises A$20.0 million in Strategic Placement

Read more