Alterity reported Q1 FY26 cash flow results for the quarter ended September 30 2025, showing a cash balance of A$54.56 million and operating cash outflows of A$5.34 million.
The company raised A$20 million in gross proceeds through a strategic placement announced on September 8 2025, which strengthened its balance sheet and extended its financial runway.
Comparing to prior periods, Alterity’s cash balance increased from A$40.66 million at the end of Q4 FY25 to A$54.56 million, while operating cash outflows rose from A$2.35 million in Q4 FY25 to A$5.34 million in Q1 FY26. In Q2 FY25 the company had a cash balance of A$4.54 million and operating outflows of A$5.06 million, illustrating the company’s growing burn rate as it advances clinical development.
Clinical data from the advanced MSA trial (ATH434‑201) showed a mean reduction of 2.8 UMSARS I points at 52 weeks for the 75 mg dose, representing a 35 % relative effect. Open‑label ATH434‑202 results demonstrated brain volume preservation and biomarker target engagement, and peer‑reviewed neuroimaging publications were released.
An independent commercial assessment estimated a worldwide peak sales opportunity of USD 2.4 billion for ATH434 if approved, underscoring the commercial potential of the lead asset.
Regulatory milestones include Orphan Drug Designation in the United States and the European Union, Fast Track Designation in the U.S., and planned FDA Type C meetings. An End‑of‑Phase 2 meeting is expected in mid‑2026, which could delay the start of Phase 3 trials.
The cash position and recent financing support ongoing clinical development and regulatory engagement, positioning Alterity for continued progress toward market approval of ATH434.
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