Radiopharm Theranostics Limited - Sponsored ADR
RADX Healthcare Biotechnology
Radiopharm Theranostics Limited - Sponsored ADR’s revenue for fiscal 2026 (year ended June 2026) was $1.9 million, down 20.2% from fiscal 2025.
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Radiopharm Theranostics Limited - Sponsored ADR (RADX) Beneish M-score
Radiopharm Theranostics Limited - Sponsored ADR's Beneish M-score for fiscal 2026 is −2.62; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.62 | (58.29) |
| FY2025 | 55.66 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 2.20 | — | 2.03 | |
| Gross margin index | 0.11 | — | 0.06 | |
| Asset quality index | 1.18 | — | 0.48 | |
| Sales growth index | 0.80 | — | 0.71 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 1.48 | — | −0.25 | |
| Total accruals to total assets | (0.07) | — | −0.32 | |
| Leverage index | 1.82 | — | −0.60 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.62 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ATYR aTyr Pharma, Inc. compare | −3.8× |
| RADX Radiopharm Theranostics Limited - Sponsored ADR | −2.6× |
| DYAI Dyadic International Inc. compare | 1.0× |
| NEUP Neuphoria Therapeutics Inc. compare | 832× |
| JSPR Jasper Therapeutics, Inc. compare | — |
| TCRX TScan Therapeutics, Inc. compare | — |
| ACGN Aceragen, Inc. compare | — |
| ANEB Anebulo Pharmaceuticals, Inc. compare | — |
| PBM Psyence Biomedical Ltd. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI