Perspective Therapeutics (CATX) UBS Global Healthcare Conference summary

Company overview and platform

• Focuses on radiopharmaceuticals for both diagnostics and therapeutics, leveraging theranostics to treat and image with the same molecule, enabling de-risked early clinical programs.

• Developed proprietary lead-based isotopes (Lead-212 for therapy, Lead-203 for imaging) and solved key challenges by inventing a chelator and generator, enabling global distribution.

• In-house discovery, production, and clinical operations teams position the company for growth.

• Manufacturing infrastructure includes operational sites in New Jersey and Iowa, with recent acquisitions in Chicago, Houston, and Chino to support expansion.

• Proprietary chelator offers improved safety, reduced kidney toxicity, and enhanced IP protection, with a recently issued U.S. patent.

Lead asset: VMT-α-NET for neuroendocrine tumors

• Designed for best-in-class tumor-kidney ratio and SSTR2 uptake, targeting a range of tumors including gastroenteropancreatic, pancreatic, lung, and breast cancers.

• Fast Track designation granted by FDA for first-line use; currently dosing at 2.5 and 5 mCi, with plans to escalate based on safety and efficacy data.

• Initial clinical data from India showed 60-70% response rates in a small, diverse patient group, with most responses confirmed.

• Safety profile includes manageable anemia and transient alopecia, with no major kidney or hematologic toxicities observed.

• Upcoming data readout at NANETS and ongoing exploration of dosing strategies to optimize therapeutic window and commercial feasibility.

VMT-01 program for metastatic melanoma

• Targets MC1R-positive metastatic melanoma, with about 50% positivity rate in screened patients.

• Early clinical results show disease control up to a year at 3 mCi dose, far exceeding current standard of care progression-free survival.

• Preclinical data indicate strong synergy with PD-1 inhibitors, with combination therapy leading to durable responses and immune memory in animal models.

• Lower dosing in combination therapy appears more effective, with ongoing enrollment and updates expected next year.

• Safety monitoring shows no dose-limiting toxicities at higher doses, but theoretical kidney exposure supports use of lower, effective doses.