Perspective Therapeutics, Inc. · AMEX:CATX
Perspective Therapeutics — Investor Presentation (October 2026)
87 slides from Perspective Therapeutics's investor presentation, Oct 1, 2026
Slide 1: Next-Generation Radiopharmaceuticals Redefining Targeted Oncology
Next-Generation Radiopharmaceuticals Redefining Targeted Oncology
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: Designed to be the Most Potent Payload in Targeted Oncology
Designed to be the Most Potent Payload in Targeted Oncology
Slide 4: Three Independent Clinical-Stage Programs, Each Against a Distinct Target with Data in 2026
Three Independent Clinical-Stage Programs, Each Against a Distinct Target with Data in 2026
Slide 5: Deep Leadership Across Radiopharmaceutical and Drug Development
Deep Leadership Across Radiopharmaceutical and Drug Development
Slide 6: The Perspective Story in Four Parts
The Perspective Story in Four Parts
Slide 7: Radiopharmaceutical Therapy: A Category Still Early in Its Adoption Curve
Radiopharmaceutical Therapy: A Category Still Early in Its Adoption Curve
Slide 8: Targeted Delivery of Payloads is Transforming Oncology Therapy
Targeted Delivery of Payloads is Transforming Oncology Therapy
Slide 9: $45 Billion+ Addressable Market, Already Generating Blockbuster Radiopharmaceutical Revenue
$45 Billion+ Addressable Market, Already Generating Blockbuster Radiopharmaceutical Revenue
Slide 10: VMT-α-NET, VMT01, PSV359, and PSV594 Address a Combined $45B+ Solid Tumor Market
VMT-α-NET, VMT01, PSV359, and PSV594 Address a Combined $45B+ Solid Tumor Market
Slide 11: Pipeline in Depth: The Data Behind Each Program
Pipeline in Depth: The Data Behind Each Program
Slide 12: Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals
Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals
Slide 13: Neuroendocrine Tumors VMT-α-NET
Neuroendocrine Tumors VMT-α-NET
Slide 14: 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 15: VMT-α-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2
VMT-α-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2
Slide 16: Ongoing Phase 1/2a to Establish Broad Therapeutic Window for VMT-α-NET
Ongoing Phase 1/2a to Establish Broad Therapeutic Window for VMT-α-NET
Slide 17: Patient Exposure and Follow-up with [212Pb]VMT-α-NET in ASCO 2026 Data Analysis
Patient Exposure and Follow-up with [212Pb]VMT-α-NET in ASCO 2026 Data Analysis
Slide 18: VMT-α-NET Best Response Deepens Over Time
VMT-α-NET Best Response Deepens Over Time
Slide 19: VMT-α-NET Responses Deepen Over Time
VMT-α-NET Responses Deepen Over Time
Slide 20: Spider Plot of Tumor Change Over Time by Patient
Spider Plot of Tumor Change Over Time by Patient
Slide 21: VMT-⍺-NET: Durable Disease Control Across All Doses
VMT-⍺-NET: Durable Disease Control Across All Doses
Slide 22: Best-in-class Safety Profile
Best-in-class Safety Profile1
Slide 23: Blood Creatinine During Follow-up for All Patients Treated (n=68)
Blood Creatinine During Follow-up for All Patients Treated (n=68)
Slide 24: 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 25: Melanoma VMT01
‘ay PERSPECTIVE’ THERAPEUTICS Melanoma VMT01
Slide 26: Checkpoint Inhibitors Transformed Melanoma Care but Still Leave Many Behind
Checkpoint Inhibitors Transformed Melanoma Care but Still Leave Many Behind
Slide 27: VMT01: Potential First-in-Class 212Pb Therapy Targeting MC1R for Melanoma
VMT01: Potential First-in-Class 212Pb Therapy Targeting MC1R for Melanoma
Slide 28: Ongoing Phase 1/2a Open-Label Trial For VMT01 in Melanoma
Ongoing Phase 1/2a Open-Label Trial For VMT01 in Melanoma
Slide 29: Preliminary Anti-tumor Activity Observed at 3.0 mCi Dose of VMT01
Preliminary Anti-tumor Activity Observed at 3.0 mCi Dose of VMT01
Slide 30: Treatment Emergent Adverse Events (All Grades, Occurring in ≥ 10% of Patients)
Treatment Emergent Adverse Events (All Grades, Occurring in ≥ 10% of Patients)
Slide 31: VMT01 Clinical Data Support Further Development
VMT01 Clinical Data Support Further Development
Slide 32: PSV359 Advanced Solid Tumors
PSV359 Advanced Solid Tumors
Slide 33: 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 34: 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 35: 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 36: 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 37: CCK2R81 a potential first-in-class in selected solid tumors
CCK2R81 a potential first-in-class in selected solid tumors
Slide 38: Perspective's CCK2R81 in Medullary Thyroid Cancer Compared to FDG and Fluorodopa
Perspective’s CCK2R81 in Medullary Thyroid Cancer Compared to FDG and Fluorodopa
Slide 39: Platform and Manufacturing
‘ay PERSPECTIVE’ THERAPEUTICS Platform and Manufacturing
Slide 40: Optimizing Structural Chemistry
Optimizing Structural Chemistry:
Slide 41: Choosing the Right Isotope
PLATFORM Choosing the Right Isotope Lead (?12Pb) advantages over beta and other alpha emitters 212Db Advantage 41 Better anti-tumor activity Better safety profile Cleaner decay chain Better clinical profile Isotope access & scalability Better patient management Better patient selection “Daughter iso
Slide 42: Not All 212Pb Programs Are Created Equal
Not All ²¹²Pb Programs Are Created Equal
Slide 43: Advancing a Theranostic Approach
Advancing a Theranostic Approach:
Slide 44: Direct-to-Hospital Delivery through Integrated Isotope Production
Direct-to-Hospital Delivery through Integrated Isotope Production
Slide 45: Reaching the Largest Addressable Market with Regional Manufacturing
Reaching the Largest Addressable Market with Regional Manufacturing
Slide 46: Financial Strength and IP
‘ay PERSPECTIVE’ THERAPEUTICS Financial Strength and IP
Slide 47: Strong Financial Position
FINANCIAL STRENGTH Strong Financial Position Funding into late 2027 Cash, cash equivalents and short-term investments as of June 30, 2026 ~$237 million Share count as of June 30, 2026 ~114.0 million ~20.6 million Outstanding common stock warrants & options as of June 30, 2026 Based on our current pl
Slide 48: Strong IP Portfolio Covering All Aspects of Radiopharmaceutical Value Chain
Strong IP Portfolio Covering All Aspects of Radiopharmaceutical Value Chain
Slide 49: A Decade of Deliberate, End-to-End Engineering
A Decade of Deliberate, End-to-End Engineering
Slide 50: Built Over a Decade - The Platform Is Built; Pipeline Advancing
Built Over a Decade - The Platform Is Built; Pipeline Advancing
Slide 51: Slide 51
Slide 52: Abbreviations
Abbreviations AACR: American Association for Cancer Research 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 respo
Slide 53: Appendix — Backup Slides
‘ay PERSPECTIVE’ THERAPEUTICS * Investment thesis * Market opportunit APPENDIX — Backup Slides + VMT-a-NET * VMTO01 * PSV359 * Manufacturing * IP protection
Slide 54: Investment thesis
‘ay PERSPECTIVE’ THERAPEUTICS Investment thesis
Slide 55: Engineering the Alpha Advantage in Targeted Oncology
Engineering the Alpha Advantage in Targeted Oncology
Slide 56: Optimizing the Entire System for Targeted Oncology
Optimizing the Entire System for Targeted Oncology
Slide 57: Advancing a Diverse 212Pb-Based Oncology Portfolio
Advancing a Diverse 212Pb-Based Oncology Portfolio
Slide 58: Market opportunity
‘ay PERSPECTIVE’ THERAPEUTICS Market opportunity
Slide 59: Solid Tumors are an Attractive Market for Radiopharmaceuticals
Solid Tumors are an Attractive Market for Radiopharmaceuticals
Slide 60: Market Opportunity: NETs Trials
MARKET OPPORTUNITY NETs Trials Study NETTER-122 NETTER-2* COMPETE Phase Il ACTION-1 Phase Ib/Ilt Randomized 2:1 (+/-octreotide) _ Randomized 2:1 (+/-octreotide) Randomized 2:1 (vs everolimus) Single arm Phase Ib: Single arm N=229 N=226 N=309 N=35 N=17 Status Supported registration Not on USPI?, EMA
Slide 61: 2L+ Metastatic Melanoma Trials
2L+ Metastatic Melanoma Trials
Slide 62: VMT-α-NET
‘ay PERSPECTIVE’ THERAPEUTICS VMT-a-NET
Slide 63: VMT-⍺-NET: Designed with Broad Therapeutic Window
VMT-⍺-NET: Designed with Broad Therapeutic Window
Slide 64: 203Pb SPECT Imaging Reveals Favorable VMT-a-NET Properties
VMT-a-NET 203Pb SPECT Imaging Reveals Favorable VMT-a-NET Properties Rapid Tumor Targeting High Tumor and Renal Clearance Retention * Tumors visible within 1 hour indicates rapid binding to SSTR2 target High intensity above background ¥ / ; . implies excellent therapeutic : window 2 a 3 ” se Unbound
Slide 65: VMT-α-NET Dosimetry: Independent Investigator Findings
VMT-α-NET Dosimetry: Independent Investigator Findings
Slide 66: VMT-α-NET Dosimetry: Highlights from the Phase Study
VMT-α-NET Dosimetry: Highlights from the Phase 1 Study
Slide 67: VMT-⍺-NET: Baseline Patient Characteristics in ASCO 2026 Data Analysis
VMT-⍺-NET: Baseline Patient Characteristics in ASCO 2026 Data Analysis
Slide 68: Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment
Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment
Slide 69: VMT01
‘ay PERSPECTIVE’ THERAPEUTICS VMT01
Slide 70: ICI Combo Rationale: Strong Synergy with VMT01 in Melanoma
ICI Combo Rationale: Strong Synergy with VMT01 in Melanoma
Slide 71: Metastatic Melanoma: Confirmed Partial Response after Cycles of [212Pb]VMT01
Metastatic Melanoma: Confirmed Partial Response after 2 Cycles of [212Pb]VMT01
Slide 72: PSV359
‘ay PERSPECTIVE’ THERAPEUTICS PSV359
Slide 73: Pan-Cancer Program: PSV359
PSV359 Pan-Cancer Program: PSV359 Fibroblast activation protein alpha (“FAP”) is a pan-cancer target In some tumor types, FAP In other cancers, FAP is 4% a is expressed on the cancer primarily expressed on cells as well as on stroma tumor stroma cells and not 3 eh > cells on the cancer cells a . a .
Slide 74: Novel Compound Development
PSV359 Fibrob Novel Compound Deve In-house peptide synthesis and in vivo capability allows rapid iteration and optimization of novel compounds F - . - Phage display scr 5 | Compound 3-30 [ Compound 3-42 | Compoun AVAV AN & BP, BN dgoorrenen S * Phage display followed by affinity maturation * Bioconj
Slide 75: PSV359 is Active Against FAP-α Expression on Tumor and on Stroma
PSV359 is Active Against FAP-α Expression on Tumor and on Stroma
Slide 76: Platform and Manufacturing
‘ay PERSPECTIVE’ THERAPEUTICS Platform and Manufacturing
Slide 77: 212Pb Isotope Decay Chain and Importance of the Pb-specific Chelator
PLATFORM 212Pb Isotope Decay Chain and Importance of the Pb-specific Chelator “Th Thorium Where the drug goes = where the 1sy alpha particle is deposited @) OH 2 Bj Bismuth * Perspective’s proprietary chelator retains ~95% of 2128] after transition in drug formulation * Generic chelators leak the 2?
Slide 78: Construct Designed for Better Clinical Outcome
Construct Designed for Better Clinical Outcome
Slide 79: 212Pb Uniquely Suited for Combination with Immune Checkpoint Inhibitors
212Pb Uniquely Suited for Combination with Immune Checkpoint Inhibitors
Slide 80: Kinetics Matter: 212Pb Hits Hard and Fast for Strong Activity with Less Systemic Exposure
Kinetics Matter: 212Pb Hits Hard and Fast for Strong Activity with Less Systemic Exposure
Slide 81: 225Ac Isotope Decay Chain and Potential for Off-target Toxicity
PLATFORM 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 A PERSPECTIVE" THERAPEUTICS
Slide 82: Isotope Decay Chain — Product Implications
PLATFORM Isotope: Decay Chain — Product Implications Post final radiolabeling and purification, alpha and beta emitting daughters of 2°Ac build up fast 225A) cay ghter Ingrowt! Dose Vial Unbound Isotopes m25Ac m221Fr mw 217At mi 2238) me 205T] m213Po 4x more unlabeled daughter activity in about 4 hr
Slide 83: On-Demand Fulfillment at Regional Sites for Finished Product Delivery
On-Demand Fulfillment at Regional Sites for Finished Product Delivery
Slide 84: Ideal for Regional Manufacturing
Ideal for Regional Manufacturing
Slide 85: Daily Production at Regional Sites Ensures Supply of Ready-to-Administer Product
Daily Production at Regional Sites Ensures Supply of Ready-to-Administer Product
Slide 86: IP protection
‘ay PERSPECTIVE’ THERAPEUTICS IP protection
Slide 87: Strong Intellectual Property Portfolio
IP PROTECTION Strong intellectual property portfolio Perspective-owned/Exclusively-licensed IP 22 Issued Patents (full patent term expires 2036-2044, with potential PTE) Composition of matter for radiopharmaceutical compounds targeting SSTR2, FAP-a, MC1R, CCK2R System and methods for generating Pb-2
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