Perspective Therapeutics, Inc. · AMEX:CATX
Perspective Therapeutics — Investor Presentation (February 2025)
50 slides from Perspective Therapeutics's investor presentation, Feb 3, 2025
Slide 1: Corporate Presentation February 2025
Corporate Presentation February 2025 NYSE AMERICAN: CATX
Slide 2: Forward-looking statements
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,” “should,” “expect,”
Slide 3: Developing the Next Generation of Targeted Therapies
Developing the Next Generation of Targeted Therapies Robust Manufacturing Infrastructure Radioisotope supply strengthened by integrated supply chain Patient coverage via distributed manufacturing infrastructure Ready-to-administer products provided to treatment sites on day of scheduled treatment In
Slide 4: Broad Proprietary Pipeline
Program (Target) Target Disease Candidate evaluation Human Clinical Imaging Phase 1/2 Registration Enabling Study Status VMT01/02 (MC1R) Melanoma (MC1R imaging & therapy) Next cohort is open for enrollment Open for enrollment VMT-⍺-NET (SSTR2) Neuroendocrine tumors Cohort 2: Enrolling Cohort 3: Pend
Slide 5: Radiopharmaceutical Therapy Poised to Revolutionize Oncology Treatment
Radiopharmaceutical Therapy Poised to Revolutionize Oncology Treatment Perspective’s pipeline and platform has the potential to significantly expand the breadth of tumors addressed by RPT Bars representative of relative size of the addressable market (both current and potential future) but not to sc
Slide 6: Theranostics Advantage and Novel Targeting Moieties
Generate Novel Targeting Moieties Optimize In Vivo Lead Candidate Nomination Development Candidate Nomination IND Target Nomination FIH Imaging Compound 3-30 Compound 3-59 Compound 3-42 Optimization enhances tumor specificity In-house peptide synthesis and in vivo capability allows rapid iteration a
Slide 7: Perspective's Innovative Platform
Perspective’s Innovative Platform Enabling broad applications in the clinic
Slide 8: Radiopharmaceutical Platform Optimized for a Broader Therapeutic Window
Perspective’s Radiopharmaceutical Platform Optimized for a Broader Therapeutic Window Perspective Therapeutics’ Platform Optimized peptides Highly specific for tumor cell receptors Rapid clearance from blood to reduce off-target effects Ideal isotope Double-stranded breaks cell death Reduced off-t
Slide 9: Lead 212Pb vs Actinium and Lutetium isotopes
1USPI for 177Lu vipivotide tetraxetan 2Sgouros G. Alpha-particles for targeted therapy. Adv Drug Deliv Rev. 2008;60(12):1402-1406. doi:10.1016/j.addr.2008.04.007 Lead (212Pb) α radiation Actinium (225Ac) α radiation Lutetium (177Lu) ϐ radiation Potency Direct tumor killing β Single-stranded DNA brea
Slide 10: Proposed Mechanism of Action for 212Pb Platform
Multiple overlapping mechanisms drive tumor cell death and immune response Proposed Mechanism of Action for 212Pb Platform *RPT not to scale. Adapted from Pouget JP, Chan TA, Galluzzi L, Constanzo J. Radiopharmaceuticals as combinatorial partners for immune checkpoint inhibitors. Trends Cancer. 2023
Slide 11: Proprietary Chelator Optimized for Lead-Based RPTs
Perspective’s Proprietary Chelator Has Been Optimized for Lead-Based RPTs Generic chelators have not been optimized for Pb isotopes, potentially compromising safety, efficacy and manufacturing efficiency 1Li M, et al. Curr Med Chem. 2020; 2Vegt E, et al. J Nucl Med. 2010; 3Mirzadeh et al., Radiochim
Slide 12: Pb-based Theranostics Enable Diagnosis and Treatment
Pb-based Theranostics Enable Both Diagnosis and Targeted Treatment of Cancer Identical distribution of 203Pb and 212Pb for imaging and treatment, respectively Human Image: Cagle et al. European Association of Nuclear Medicine 2024, Presentation Number: OP-473 Platform
Slide 13: Pre-Targeting Platform
1 Administer cold modified monoclonal antibody or targeting protein Perspective’s Pre-Targeting Platform Potential to significantly expand therapeutic window by utilizing different kinetics of proteins and small molecules1 Minutes 1Company’s pre-targeting platform currently in preclinical developmen
Slide 14: Fully Modular Pre-Targeting Platform
Perspective’s Pre-Targeting Platform Fully modular technology enables the generation of radiotherapies using existing, validated antibodies Abs: Marketed / in clinical development Off-patent Abs Discontinued Abs (due to safety/efficacy) Lifecycle Management: Follow-on product for same target, but wi
Slide 15: Supply Chain and Manufacturing Infrastructure
Supply Chain and Manufacturing Infrastructure Ensuring radioisotope supply and ability to deliver ready-to-administer products to hospitals
Slide 16: On-Demand Order Fulfillment at Regional Sites
On-Demand Order Fulfillment at Regional Sites to Deliver Finished Products 5.7” 11” Proprietary Generator Simple chemical separation technology for 212Pb extraction 228Th Thorium 1.9 y 224Ra Radium 3.6 d 212Pb Lead 10.6 h Transports precursor isotope (224Ra) Extracts therapeutic isotope (212Pb) Isot
Slide 17: Regional Manufacturing Allows Commercialization of 212Pb Products
Sites Today 2027 1 2029 Population Radius ~11 hrs Coralville, IA Clinical Supply Somerset, NJ 75 m Chicago, IL In progress 66 m Los Angeles, CA In progress 48 m Houston, TX In progress 37 m Potential Locations Atlanta, GA tbc 57 m Orlando, FL tbc 31 m Top 6 sites cover >90%
Slide 18: Neuroendocrine Tumors: VMT-α-NET
Neuroendocrine Tumors: VMT-⍺-NET Targeting the somatostatin receptor to treat rare neuroendocrine-type cancers
Slide 19: Neuroendocrine Tumors: VMT-α-NET
Whole body SPECT scan of NETs patient imaged with [203Pb]VMT-𝛼-NET Neuroendocrine Tumors: VMT-⍺-NET Targeting the somatostatin receptor to treat neuroendocrine and other cancers Clinical Pipeline Unmet Need Disease Overview Program Overview 1Wu P, He D, Chang H, Zhang X. Epidemiologic trends of and
Slide 20: Preclinical superiority of VMT-α-NET
SSTR2 tumor model demonstrates superiority of VMT-𝛼-NET to generic compounds 8-fold improved tumor uptake with decreased kidney retention Key Takeaways vs Generic Compounds Generic 203Pb-DOTATOC Proprietary 203Pb-VMT-α-NET Tumor Kidneys Drug Administered [212Pb]VMT-α-NET (1 x 120 µCi) Vehicle…
Slide 21: 203Pb SPECT Imaging Reveals Favorable Properties
Tumors visible within 1 hour indicates rapid binding to SSTR2 target High intensity above background implies excellent therapeutic window Unbound drug in bladder within 1 hour for excretion Low renal retention due to neutral charge on proprietary Pb-specific chelator 21 hours Rapid Tumor Targeting a
Slide 22: Trial Parameters
For additional details regarding trial parameters, including criteria for patient selection, please refer to https://clinicaltrials.gov/study/NCT05636618 Trial Parameters Dose-finding Population Key Study Features Study Endpoints Advanced/unresectable or metastatic NETs Progressive disease on prior
Slide 23: Anti-Tumor Activity
Anti-Tumor Activity Note: Patient 109-103 experienced progressive disease by unambiguous progression of non-target lesions. Wahl RL et al, Presentation at ASCO-GI 2025. Full presentation available here. Data cut off date January 10, 2025 Preliminary response assessment by RECIST v1.1 showed 3 respon
Slide 24: Signal of Sustained Anti-Tumor Activity
Signal of Sustained Anti-Tumor Activity Notes: 1 patients had progressive disease prior to enrollment on study, and patient 109-103 experienced progressive disease by unambiguous progression of non-target lesions Response for Patient 103-104 has been confirmed; other responses subject to confirmatio
Slide 25: VMT-α-NET Was Well Tolerated
[212Pb]VMT-α-NET Was Well Tolerated *The date of one of two episodes of dizziness reported at NANETS was revised to occur >8 weeks following last treatment and therefore no longer meets the definition for treatment-emergent. Wahl RL et al, Poster presentation at ASCO-GI 2025. Poster available here.
Slide 26: No Decline in Renal Function Observed
No Decline in Renal Function Observed Wahl RL et al, Poster presentation at ASCO-GI 2025. Full poster presentation available here. Data cut off date January 10, 2025 Most recent eGFR versus baseline Most recent on-study eGFR [212Pb]VMT-α-NET 2.5 mCi (92.5 MBq) [212Pb]VMT-α-NET 5.0 mCi (185 MBq) eGFR
Slide 27: Conclusion & Next Steps
1Wahl RL et al, Poster presentation at ASCO-GI 2025. Full poster presentation available here. Data cut off date January 10, 2025 Conclusion & Next Steps [212Pb]VMT-α-NET was well tolerated, supporting rationale for potential dose escalation Clinical Pipeline [212Pb]VMT-α-NET was well-tolerated1 No D
Slide 28: Patient with PR after VMT-α-NET
Patient with PR after [212Pb]VMT-α-NET Wahl RL et al, Poster presentation at ASCO-GI 2025. Full poster presentation available here. Data cut off date January 10, 2025 Contrast-Enhanced CT and DOTATATE PET scans show partial response Baseline After cycle 2 After cycle 1 After cycle 3 After cycle 4 Fo
Slide 29: Melanoma Program: VMT01/02
Melanoma Program: VMT01/02 Using the melanocortin receptor (MC1R) to target melanoma for imaging and therapy
Slide 30: Melanoma Program: VMT01/02
Whole body PET scan of a metastatic melanoma patient using VMT02 Melanoma Program: VMT01/02 Using the melanocortin receptor (MC1R) to target melanoma for imaging and therapy 1Su DG, et al. Melanocortin-1 Receptor Expression as a Marker of Progression in Melanoma. JCO Precis Oncol. 2024;8:e2300702. d
Slide 31: VMT01 with Immune Checkpoint Inhibitors
1. Rodman et al., International Symposium on Radiopharmaceutical Sciences iSRS 2023, 22-26 May 2023, Honolulu, Hawaii. In C57Bl6 albino mice inoculated with B16.F10 allograft tumors, treatment with [212Pb]VMT01 monotherapy shows increasing efficacy with higher doses (left). When combined with immune
Slide 32: Key Takeaways
Key Takeaways High response rates in multiple tested models >70% complete and durable response when combined with PD1 immunotherapy in a model highly resistant to checkpoint inhibitors3 Combination with immune checkpoint inhibitors induced synergistic anti-tumor effect 1Li et al., Mol. Pharm., 2019;
Slide 33: VMT02 PET Imaging in Metastatic Melanoma
[68Ga]VMT02 PET Imaging in Patient with MC1R Positive Metastatic Melanoma Diagnostic peptide demonstrates similar uptake to FDG in tumors Clinical Collaborator: Xiaowei Ma, M.D., Ph.D., The Second Xiangya Hospital, Central South University, China 18F-FDG (Standard of Care) [68Ga]VMT02 Patient inform
Slide 34: Trial Design: VMT01-T101 Phase 1/2a
De-escalation for Cohort 3 onwards, possibility for intermediate doses For additional details regarding trial parameters, including criteria for patient selection, please refer to https://clinicaltrials.gov/study/NCT05655312 Monotherapy Dose-finding Phase n ≈ 32 Recruitment Complete Cohort 1 [212Pb]
Slide 35: Preliminary Efficacy of VMT01 Observed at Lower Dose
Preliminary Efficacy of [212Pb]VMT01 Observed at Lower Dose Per preclinical studies, immunostimulatory effect leading to immune-mediated stable disease hypothesized at lower doses Lighter portions of each line signify transition of the patient to follow-up period (begins ~24 weeks after first dose).
Slide 36: Treatment Emergent Adverse Events
Treatment Emergent Adverse Events (occurring in ≥ 2 patients and/or Grade ≥ 2) Morris ZS et al, Poster Presentation at Society of Melanoma Research, New Orleans 2024. Full presentation available here. Data cut-off date September 4, 2024. [212]-VMT01 3 mCi (n=3) [212]-VMT01 5 mCi (n=7) Total (n=10) G
Slide 37: Conclusion & Next Steps
1Morris ZS et al, Poster Presentation at Society of Melanoma Research, New Orleans 2024. Full presentation available here. Data cut-off date September 4, 2024. Conclusion & Next Steps Activity seen in 3 mCi dose cohort supports dose reduction and nivolumab combination Clinical Pipeline [212Pb]VMT01
Slide 38: Pan-Cancer Target: PSV359
Pan-Cancer Target: PSV359 Preclinical Efficacy and First in Human Images of Novel Peptide Targeting Fibroblast Activation Protein alpha (FAPɑ)
Slide 39: Pan-Cancer Program: PSV359
Pan-Cancer Program: PSV359 Novel peptide targeting fibroblast activation protein alpha (FAP-ɑ) 1Su DG, et al. Melanocortin-1 Receptor Expression as a Marker of Progression in Melanoma. JCO Precis Oncol. 2024;8:e2300702. doi:10.1200/PO.23.00702; 2SEER*Explorer: Surveillance Research Program, National
Slide 40: FAP is a pan-cancer target
Kratochwil et al., JNM, 2019 FAP is primarily expressed on tumor stroma cells, but also on some cancer cells Tumor stroma cells do not typically express cancer-specific markers like SSTR2 or MC1R Pan-Cancer Program: PSV359 Fibroblast activation protein alpha (“FAP”) is a pan-cancer target Clinical P
Slide 41: FAP-targeted Novel Compound Development
Compound 3-30 Compound 3-42 Compound 3-59 Fibroblast Activation Protein-targeted Novel Compound Development In-house peptide synthesis and in vivo capability allows rapid iteration and optimization of novel compounds Phage display screening Phage display followed by affinity maturation Bioconjugate
Slide 42: PSV359 Active Against FAP-α on Tumor and Stroma
PSV359 is Active Against FAP-α Expression on Tumor and on Stroma Source: Cagle et al. European Association of Nuclear Medicine 2024, Presentation Number: OP-473 80% CR 50% CR Anti-tumor Activity of PSV359 in mice with U87MG (predominately stromal mFAP) xenografts Anti-tumor activity of PSV359 in mic
Slide 43: PSV377 PET Imaging in Metastatic Colorectal Cancer
[68Ga]PSV377 PET Imaging in Patient with Metastatic Colorectal Cancer Diagnostic FAP-targeted peptide demonstrates excellent uptake in tumors [18F]FDG MIP (Standard of Care) [68Ga]PSV3771 MIP Patient information: Male, Asian, 34 years old [68Ga]PSV377: 3.2 mCi injection, 30 min post-injection imagin
Slide 44: 203Pb-PSV359 SPECT/CT
[203Pb]PSV359 SPECT/CT Source: Cagle et al. European Association of Nuclear Medicine 2024, Presentation Number: OP-473 [203Pb]PSV359 Lesion in head of left humerus 1 hour 4 hour 18 hour 4 hr 18 hr FIH Imaging of [203Pb]PSV359 in Different Types of Cancers Chondroblastic Osteosarcoma Clinical Pipelin
Slide 45: Conclusion & Next Steps
Source: Cagle et al. European Association of Nuclear Medicine 2024, Presentation Number: OP-473 Conclusion & Next Steps Preclinical data and first-in-human imaging data supportive of FIH therapeutic study in 2025 Clinical Pipeline Strong scientific rationale FAP-ɑ is a pan-cancer target that is abun
Slide 46: General Corporate Information
General Corporate Information
Slide 47: Deeply Experienced Management Team
Deeply Experienced Management Team in Radiopharmaceuticals and Oncology Drug Development Michael Schultz, PHD Chief Science Officer Thijs Spoor Chief Executive Officer Jonathan Hunt Chief Accounting Officer Markus Puhlmann, MD MBA Chief Medical Officer Amos Hedt Chief Business Strategy Officer 20+ y
Slide 48: Issued Patents and IP Portfolio
7 Issued Patents (Expiry in 2037 and 2040, with potential PTE) Composition of matter for melanoma targeted radiopharmaceutical compounds; methods of combination therapies; methods of creating radiopharmaceutical compounds using Pb-specific chelators 2 Allowed AU and EP Patent Applications (Expiry in
Slide 49: Strong Financial Position
Funding into late 20261 Strong Financial Position Preliminary cash, cash equivalents and short-term investments as of December 31, 2024 $227 million Based on our current plans, which include advancing current clinical programs based on readout, progressing multiple pre-IND assets towards clinical tr
Slide 50: Abbreviations
Abbreviations AE: adverse event APC: antigen-presenting cell ASCO-GI: ASCO Gastrointestinal Cancers Symposium DAMPs: damage-associated molecular patterns DLT: dose limiting toxicities dsDNA: double-stranded DNA EANM: European Association of Nuclear Medicine eGFR: estimated glomerular filtration rate
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