Perspective Therapeutics, Inc. · AMEX:CATX
Perspective Therapeutics — Investor Presentation (February 2026)
52 slides from Perspective Therapeutics's investor presentation, Feb 3, 2026
Slide 1: Redefining Oncology Treatment with Next-Generation Radiopharmaceuticals
Redefining Oncology Treatment with Next-Generation Radiopharmaceuticals
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Statements in this presentation that are not statements of historical fact are forward-looking statements. Words such as “may,” “will,” “s
Slide 3: Why Radiotherapy, Why Perspective: Realizing the Untapped Value Across Oncology
Why Radiotherapy, Why Perspective: Realizing the Untapped Value Across Oncology
Slide 4: Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals
Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals
Slide 5: Proprietary Radioligand Platform Optimizes Therapeutic Index
Proprietary Radioligand Platform Optimizes Therapeutic Index
Slide 6: Proprietary Pb-Based Chelator Designed for Broader and Safer Use
Proprietary Pb-Based Chelator Designed for Broader and Safer Use
Slide 7: Lead-212: Optimal Isotope with Advantages Over Beta and Other Alpha Emitters
Lead-212: Optimal Isotope with Advantages Over Beta and Other Alpha Emitters
Slide 8: Imaging Optimizes Targeted Delivery to Tumor
Imaging Optimizes Targeted Delivery to Tumor
Slide 9: Compound discovery and optimization
Compoun AVAV AN & Br Baw dgoorrenen 2 * Phage display followed by affinity maturation * Bioconjugate chemistry and further optimization * In vitro and in vivo binding assays identified lead candidates?
Slide 10: Solid Tumors are an Attractive Market for Radiopharmaceuticals
Solid Tumors are an Attractive Market for Radiopharmaceuticals
Slide 11: End-to-End Manufacturing with Clinical Supply Secured and Commercial Scale Underway
End-to-End Manufacturing with Clinical Supply Secured and Commercial Scale Underway
Slide 12: Advancing a Diverse Wholly Owned 212Pb-Based Oncology Portfolio
Advancing a Diverse Wholly Owned 212Pb-Based Oncology Portfolio
Slide 13: SSTR2+ Neuroendocrine Tumors is a Large, Growing Market with Significant Unmet Need
SSTR2+ Neuroendocrine Tumors is a Large, Growing Market with Significant Unmet Need
Slide 14: VMT-⍺-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2
VMT-⍺-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2
Slide 15: Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs
Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs
Slide 16: Compelling Anti-tumor Activity with Sustained or Deepening Responses
Compelling Anti-tumor Activity with Sustained or Deepening Responses
Slide 17: VMT-⍺-NET: Durable Disease Control Across All Doses
VMT-⍺-NET: Durable Disease Control Across All Doses
Slide 18: Best-in-class Safety Profile
Best-in-class Safety Profile1
Slide 19: VMT-⍺-NET: Select Adverse Events of Special Interest
VMT-⍺-NET: Select Adverse Events of Special Interest
Slide 20: VMT-α-NET’s Compelling Profile Supports Potential Registration Study at Current Dose Level
VMT-α-NET’s Compelling Profile Supports Potential Registration Study at Current Dose Level
Slide 21: Checkpoint Inhibitors Transformed Care of Melanoma but Leave Many Patients Behind
Checkpoint Inhibitors Transformed Care of Melanoma but Leave Many Patients Behind
Slide 22: VMT01: Potential First-in-Class 212Pb Therapy Targeting MC1R for Melanoma
VMT01: Potential First-in-Class 212Pb Therapy Targeting MC1R for Melanoma
Slide 23: Ongoing Phase 1/2a Open-Label Trial For VMT01 in Melanoma
Ongoing Phase 1/2a Open-Label Trial For VMT01 in Melanoma
Slide 24: Preliminary Anti-tumor Activity Observed at Lower Dose of VMT01
Preliminary Anti-tumor Activity Observed at Lower Dose of VMT01
Slide 25: Treatment Emergent Adverse Events (All Grades, Occurring in ≥ 2 Patients)
Treatment Emergent Adverse Events (All Grades, Occurring in ≥ 2 Patients)
Slide 26: VMT01 is Well-tolerated with Initial Anti-tumor Activity Supporting Further Development
VMT01 is Well-tolerated with Initial Anti-tumor Activity Supporting Further Development
Slide 27: FAP-ɑ is an Attractive Cancer Target with Broad Solid Tumor Potential
FAP-ɑ is an Attractive Cancer Target with Broad Solid Tumor Potential
Slide 28: PSV359: Potential First-in-Class 212Pb Therapy Targeting FAP-ɑ for Solid Tumors
PSV359: Potential First-in-Class 212Pb Therapy Targeting FAP-ɑ for Solid Tumors
Slide 29: Ongoing Open-label Phase 1/2a Trial For PSV359 in Advanced Solid Tumors
Ongoing Open-label Phase 1/2a Trial For PSV359 in Advanced Solid Tumors
Slide 30: PSV359 has Improved Tumor Retention, Highlighting its Potential as a Therapeutic Agent
PSV359 has Improved Tumor Retention, Highlighting its Potential as a Therapeutic Agent
Slide 31: Strong IP Portfolio Covering All Aspects of Radiopharmaceutical Value Chain
Strong IP Portfolio Covering All Aspects of Radiopharmaceutical Value Chain
Slide 32: Strong financial position
Strong financial position Funding into late 2027 Cash, cash equivalents and short-term investments as of December 31, 2025 ~$144 million Share count as of December 31, 2025 ~74.3 million Outstanding common stock warrants & options as of December 31, 2025 ~10.9 million On February 3, 2026, we complet
Slide 33: Phase 1/2 Data Expected Across All Clinical Programs in 26
Phase 1/2 Data Expected Across All 3 Clinical Programs in 2026
Slide 34: Slide 34
Slide 35: Abbreviations
Abbreviations AE: adverse event ALP: alkaline phosphatase ALT: alanine transaminase ASCO: American Society of Clinical Oncology ASCO-GI: ASCO Gastrointestinal Cancers Symposium AST: aspartate aminotransferase AUC: area under the curve CR: complete response CT: computed tomography Cmax: peak concentr
Slide 36: APPENDIX
APPENDIX
Slide 37: Deeply Experienced Management Team in Radiopharmaceuticals and Drug Development
Deeply Experienced Management Team in Radiopharmaceuticals and Drug Development 20+ years of exper ein biotechnology companies; public and private companies; ‘oncology and nuclear pharmacy Thijs Spoor Chief Executive Officer - cotynia Srsiswio TEE verify.» Vewront ror Aa om BD An accomplished financ
Slide 38: NETs Trials
NETs Trials Study NETTER-1"2 NETTER-2¢ Randomized 2:1 (+/-octreotide) Randomized 2-1 (+/-octreotide) N=229 N=226 Dose Level 4.x Q8W | 200 mci 4x Q8W | 200 mci (administered) Patient Population SSTR2+, GEP-NETs SSTR2+, GEP-NETS Prior PRRT 0% 0% Median time fromdx 3.8 years 1.9 months Performance Stat
Slide 39: VMT-⍺-NET: Baseline Patient Characteristics in ASCO-GI 2026 Data Analysis
VMT-⍺-NET: Baseline Patient Characteristics in ASCO-GI 2026 Data Analysis
Slide 40: Patient Exposure and Follow-up with [212Pb]VMT-α-NET in ASCO-GI 2026 Data Analysis
Patient Exposure and Follow-up with [212Pb]VMT-α-NET in ASCO-GI 2026 Data Analysis
Slide 41: VMT-⍺-NET: Durable Disease Control Across All Doses
VMT-⍺-NET: Durable Disease Control Across All Doses
Slide 42: VMT-⍺-NET: Signal of Sustained Anti-tumor Activity
VMT-⍺-NET: Signal of Sustained Anti-tumor Activity
Slide 43: Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment
Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment
Slide 44: Blood Creatinine During Follow-up for All Patients Treated (n=56)
Blood Creatinine During Follow-up for All Patients Treated (n=56)
Slide 45: Refractory Metastatic Melanoma Trials
Refractory Metastatic Melanoma Trials
Slide 46: ICI Combo Rationale: Strong Synergy with [212Pb]VMT01 in Melanoma
ICI Combo Rationale: Strong Synergy with [212Pb]VMT01 in Melanoma
Slide 47: Regional Manufacturing Allows Commercialization of 212Pb-labeled Finished Products
Regional Manufacturing Allows Commercialization of 2!2Pb-labeled Finished Products The “network effect” designed to ensure reliable commercial supply for ready-to-administer therapeutics Population Sites Today | 2027-81 2029 Radius “11 hrs Coralville, IA ic) Clinical Supply Somerset, NJ 1c) 75m Chic
Slide 48: Strong intellectual property portfolio
Strong intellectual property portfolio Perspective-owned/Exclusively-licensed IP 13 Issued Patents (expiry in 2036-2044, with potential PTE) * Composition of matter for radiopharmaceutical compounds targeting SSTR2, FAP-a, and MC1R * System and methods for generating Pb-212 radionuclide * Compositio
Slide 49: Perspective’s proprietary chelator has been optimized for lead-based RPTs
Perspective’s proprietary chelator has been optimized for lead-based RPTs
Slide 50: 212Pb Isotope Decay Chain and Importance of the Pb-specific Chelator
212Pb Isotope Decay Chain and Importance of the Pb-specific Chelator Thorium Where the drug goes = where the 1sy alpha particle is deposited @) OH 2 Bj Bismuth 61m * Perspective’s proprietary chelator retains ~95% of 2128] after transition in drug formulation? * Generic chelators leak the 2?2Bi alph
Slide 51: 225Ac Isotope Decay Chain and Potential for Off-target Toxicity
225\c Isotope Decay Chain and Potential for Off-target Toxicity Isotope Supply Production Therapy Bismuth 46m | A¥P1KO] 32310 1-440 404 [eHUDIOg Alpha-particle emission OH imparts sufficient “recoil” fe) energy to break chemical aN s~¢ bonds N O o = Target Organs @ Liver @) Kidneys @) ‘ay PERSPECTIV
Slide 52: 212Pb hits tumors hard and fast and disappears
212Pb hits tumors hard and fast and disappears 212Pb is a “high dose rate” alpha emitter with a short half life — energy is deposited rapidly to tumor and then gone Comparative al Particle Decay Over Time! 52 Comparative alpha decays Delivering alphas faster while drug and isotope tumor retention is
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