Perspective Therapeutics (CATX) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Company history and strategic focus

• Originated from the merger of Isoray and Viewpoint, shifting focus to radiopharmaceuticals and divesting brachytherapy.

• Developed proprietary chelator and generator systems for lead isotopes, enabling unique drug constructs.

• Attracted $20 million in grants and completed a Series A in 2020, validating scientific approach.

• Functions as both a drug developer and isotope distributor, with expertise in discovery and clinical work.

Isotope strategy and advantages

• Lead isotopes, especially Lead-212, offer supply chain advantages due to stockpiling of Thorium-228 precursor.

• Short half-life of lead enables rapid tumor targeting and reduced radioactive waste management challenges.

• Lead's flexibility allows both aggressive and gradual dosing strategies, with a proprietary chelator enhancing targeting.

• Short-lived isotopes simplify hospital logistics and minimize long-term waste storage compared to actinium and lutetium.

Clinical programs and pipeline

• Neuroendocrine tumor program is in dose-escalation, with strong safety profile and FDA Fast Track designation.

• Early data suggest higher response rates than current standard therapies, with expansion into first-line treatment.

• Melanoma program progressing, with combination therapy using nivolumab and promising animal data showing high complete response rates.

• Preclinical pipeline includes FAP and other programs, with rigorous biodistribution optimization before clinical entry.