Perspective Therapeutics, Inc. · AMEX:CATX
Perspective Therapeutics — Investor Presentation (January 2024)
73 slides from Perspective Therapeutics's investor presentation, Jan 3, 2024
Slide 1: Corporate Presentation
PERSPECTiVE THERAPEUTICS Corporate Presentation NYSE: CATX
Slide 2: Legal Disclaimers
Legal Disclaimers ‘Ts presentation conta forsaroohing statements within the meaning of te Und Sates Prvate Secures Ligation Relorm Act ef 1995. Staements inthis pesentaton tat art Statements of Mistvcal act are frwarsoohng statements, Words such as “ay.” “wil” “sow “eee.” “pan” “aniopat” “cou,” “ind
Slide 3: Investment Highlights
Investment Highlights Platform radiopharmaceutical company targeting pan-cancer Proprietary chelator-based peptide targeting platform ‘opportunities utilizing 2% generation «-emitter provides engine for pipeline expansion a1 AY pensercrve
Slide 4: Platform Expansion Engine
Platform Expansion Engine ‘Two Lead Programs in Clinicand Broad Proprietary Pipeline VM Toner vero \vMT02(PET agent) Program (Nove peptice) Programa (Novel small molecule) | Prosram$ (Novel peptide) Other Programs Neuroendocrine cancer Phocchromoeytomes, paraganghomas ‘Small celltungeancer Melanoma
Slide 5: Pipeline With Multiple Expected Near-Term Data Readouts
Pipeline With Multiple Expected Near-Term Data Readouts.
Slide 6: Management Team
ManagementTeam Deep Experience in Radiopharmaceuticalsand Oncology Drug Development Thijs Spoor Chief Execute Officer 20+ years of expertise in biotechnology ‘companies: publicand private companies ‘oncology and nuclear pharmacy Jonathan Hunt Chie Financial Officer 20+ years of expertise in financia
Slide 7: Radiopharmaceuticals are a Pillar of Oncology Treatment
Radiopharmaceuticals are a Pillar of Oncology Treatment Unique Mechanism of Action Offers Pan-Cancer Opportunities Redioligands can procisely deliver radiation directly to cancer eels reducing offtargot effects Proven pillar of cancer treatment Perspectne'splatiomn technologyis optimized for greator
Slide 8: Perspective's Radiopharmaceutical Optimization Process
Perspective’s Radiopharmaceutical Optimization Process Unique Mechanism of Action Offers Pan-Cancer Opportunities Isotope Pb for SPECT imaging Targeting Peptide Pb for alpha particle therapy Linker Chelator
Slide 9: Lead-212: The Optimal Therapeutic Isotope
Lead-212 #2Pb): The Optimal Therapeutic Isotope Alpha Particles Provide Numerous Benefits Over Currently Used Beta Particle Radiotherapies ‘+ With a much higher atomic mass, alpha (a)particles generate more energy and travel a shorter distance compared to beta (B) particles, making them more cytotox
Slide 10: Chelator Optimized for 212Pb
Chelator Optimized for 7/2Pb Perspective'sEnabling Technology for Pb-based Radiopharmaceuticals NET2+ R rong? HN Wolo) NET2- ° R Commercially Available mont — Ss 8) 3 Ka om i Proprietary Perspective IP Perspectie's Proprietary Chelator: Designed specifically for Pb isotopes Optimized for rapid renal
Slide 11: Pb-based Theranostics Enable Both Diagnosis and Targeted Treatment
Pb-based Theranostics Enable Both Diagnosis and Targeted Treatment of Cancer Identical Distribution of Pb and “Pb for Imaging and Treatment, Respectively Imaging Cancer Cell =pp 2 hours Patient selection t Dosimetry: T, , = 52h Twoeteo ter eee pharmacokinetics Matches peptide PK ay ———e es Dosimetry
Slide 12: Neuroendocrine Tumors: VMT-α-NET
Neuroendocrine Tumors: VMT-a-NET Targeting the somatostatin receptor to treat rare neuroendocrine- type cancers
Slide 13: VMT-α-NET Currently in Phase 1/2a Studies: Key Facts
VMT-c-Net Currently in Phase1/2a Studies: Key Facts Targeting somatostatin receptor type 2 (SSTR2) for the imaging and treatment of neuroendocrine tumors Initiated first-in-human imaging (2021) & therapy (2022) under compassionate use Fast Track Designation for first line therapy rec: Therapeutic Tr
Slide 14: SSTR2 is an Attractive Target for Identifying and Treating Tumors
SSTR2 is an Attractive Target for Identifying and Treating Tumors Expressed cross Several Tumor Types Neuroendocrine tumors (NETS) + Neuroendocrine cells are specialized cells that secrete hormones and other bioactive substances *+ Neuroendocrine cells are found throughout the body * Often grow in t
Slide 15: Superiority of Perspective's Platform Technology vs Generic Compounds
Superiority of Perspective's Platte Technology vs Generic Compounds Decreased Off-Target Toxicity, Increased Tumor Uptake and Retention in Preclinical Studies SSTR2 tumor model demonstrates superiority of VMT- «NET to generic compounds 8-fold improved tumor uptake with decreased kidney retention I C
Slide 16: VMT-α-NET Shows Significant Improvement vs Standard of Care in Preclinical Models
VMT-o-NET Shows Significant Improvement vs Standard of Care in Preclinical Models ‘Superior Efficacy with Single Dose or Multiple Administrations a ‘Standard of Care| [= fe t [77LuPOTATATE: fe } (3x500 uci) i] Po % » 8 © 8 i fo iz poronwraner (ae eee (1x 420 ne) ]- (4x30 ne) 1 | } owordninitres
Slide 17: 203Pb SPECT Imaging Reveals Favorable VMT-α-NET Properties
203Ph SPECT Imaging Reveals Favorable VMT-o-NET Properties” Rapid Tumor Targeting, High Tumor and Renal Clearance Retention a L hour : 21 hours Tumors visible within 1 hour indicates rapid binding to SSTR2 target High intensity above background implies excellent therapeutic window Unbound drug in bl
Slide 18: 212Pb SPECT/CT Imaging Confirms VMT-α-NET Tumor Uptake
212Pbh SPECT/CT Imaging Confirms VMT-o-NET Tumor Uptake Diagnosticand Therapeutic Show Same Uptake and Retention Characteristics, Pb SPECT/CT Imaging? 2b SPECT/CT Imaging PUur001 PUr009 S 15h SPECT/CT A) perspective
Slide 19: Significant Response After Single Dose, Almost Complete Response After 3 Doses
Significant Response After Single Dose, Almost Complete Response After 3 Doses Metastatic NET Pancreas with Adrenal Crisis. Tumor Before Treatment 2 Tumor After Tumor After 3 Doses (S.ACTH)!- 790 pg/ml S.ACTH - 96 pg/ml » ry peesrecrve
Slide 20: Clinical Investigation of [212Pb]VMT-α-NET in Metastatic SSTR2 Positive Patients
Treating Physician: De ehita 8 Sen Director & Head Dept of Nuclear Med ‘& Molecular imaging Forts Memoval Research Institute, Gurgson India Clinical Investigation of [7#Pb]VMT-c-NET in Metastatic SSTR2 Positive Patients Interim Resultsas of September 28, 2023, for Ongoing Investigationin India ‘Curr
Slide 21: High Partial Response Rate at Starting Dose in Patients with SSTR+, Late-Stage NETs
High Partial Response Rate at Starting Dose in Patients with SSTR+, Late-Stage NETs Interim Results. as of September 28, 2023, for OngoingClinical Investigation Program in India * er Pasa ox “ESS kent ak Patents ox raincash Kner Oxi Panes ox raises ve keener Ox Pont a *> paipien ° 4 8 2 16 20 2 28 2
Slide 22: Trial Design: [212Pb]VMT-α-NET Phase 1/2a For Neuroendocrine Tumors
Trial Design: [2!2Pb]VMT-o-NET mTPI-2! Phase 1/2a For Neuroendocrine Tumors PrimaryObjptve: To determin the MTO/MFD of P=PONMFANET(RP2D)| mating FDA approved SSTR2 PET/CT 25-10 mci done escalation wih ued dosingevey Escalation n= 1032 “Therapeutic Dose és Exposion = 20 100 ‘wee for upto gles ane Unr
Slide 23: Melanoma Program: VMT01/02
Melanoma Program: VMT01/02 Using the melanocortin receptor MC1R to target melanoma for imaging and therapy
Slide 24: VMT01 Currently In Phase 1/2a Studies: Key Facts
Slide 25: Metastatic Melanoma
Metastatic Melanoma ° Bain [2*2Pb]VMTOL target indication: * ‘meh redes — MCIR-positive melanoma + Projected market opportunity for melanoma of $8 billion in2028* . Lunes + Significant unmet needin the US: . | Se + 100K new diagnoses annually? + 8,000 people die from melanoma every year? Treatment d
Slide 26: [68Ga]VMT02 PET Imaging in Patient with MC1R Positive Metastatic Melanoma
[®Ga]VMT02 PET Imaging in Patient with MC1R Positive Metastatic Melanoma Diagnostic Peptide Demonstrates Similar Uptake to FDG in Tumors F-FDG (Standard of Care) [esGajvmro2 Patient information: + Male, Asian, 33 years old + [68Ga]VMTO2: 7 mci injection. 45 min post- injection imaging Clinical Colla
Slide 27: Combination Targeted Alpha Particle Therapy & Immunotherapy
Combination Targeted Alpha Particle Therapy & Immunotherapy ; PERSPECTIVE
Slide 28: [212Pb]VMT01 in Combination Demonstrates Synergistic Responses
[22Pb]VMTOZ in Combination Demonstrates Synergistic Responses Muttiple Melanoma Tumor Models Show Promise of Combining with Standard of Care Key Takeaways + High response rates in multiple tested models Pe pomedecapeanpl + 43% complete and durable response if combined Foo “anwpoane with immunotherap
Slide 29: Trial Design: [212Pb]VMT01 Phase 1/2a For Metastatic Melanoma
Trial Design: [2“2Pb]VMT01-T104 mTPI4 Phase 1/2a For Metastatic Melanoma PrimeryObjpative: Todetumine the MTO/MFD of PuyvNTOL (P20) | Imaging (FPoMATOL SPEC/CT or oan? PET/CT a 23~ 15m dose escalation with fed dosingevey 8 Seren 120 subjects ‘Thorpe weeks fo upto 3 ries ease Population Erol -52 suje
Slide 30: Manufacturing, Production and Logistics of 212Pb-labeled Therapeutics
Manufacturing, Production and Logistics of 712Pb- labeled Therapeutics The Path to Commercial Supply
Slide 31: 212Pb is Plentiful, Storable, Scalable & Suitable for Distributed Logistics
212Pb is Plentiful, Storable, Scalable & Suitable for Distributed Logistics The supply chain is lowerriskand more robust than other therapeuticisotopes Isotope Punification Product Manufacturing, Naturally occurring in mining waste Parent isotope Thorium 228 can be \VMTaGEN 222Pb generator technolog
Slide 32: Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics
Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics Naturally OccurringIsotope Decay ~ No Irradiation Processes Required o-o-2 Plentiful Supply. Naturally occurring, or produced as a waste product Chemical Separation: ‘Allows for Ra-based generators of ##Pb Chemical Separati
Slide 33: 212Pb Supply via Reusable Desktop Isotope Generator
212Pb Supply via Reusable Desktop Isotope Generator VMT-a-GEN + Extensive feedstock from nuclear and mining waste material + Longterm supply contract secured with US DOE + On demand daily doses — Auto-regenerates overnight ~ ~Lweek shelf life 4 te 1 ‘Small, Elegant !2Pb Isotope Generator = Bi + Inte
Slide 34: Scalable Manufacturing and Distribution Logistics
Scalable Manufacturing and Distribution Logistics Perspective'splan to flexibly scale manufacturingto commercial levels (100,000+ doses per year) (Genesitor Moree Generator gb manufactures . Generator nd shippea etea or — M4 reopen ie ome & generator — Geren, Steamnouse euted for atcomo Despensing D
Slide 35: Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics
Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics Naturally Occurring Isotope Decay ~ No Irradiation Processes Required + Centra continental supply + Eluted weeks for Ra + Distributed continentaly + eluted dai for?P0, + Daily manufacture of fished doses + Leverages existin
Slide 36: Infrastructure and Distribution Networks for Radiopharmaceuticals are Mature
Infrastructure and Distribution Networks for Radiopharmaceuticals are Mature Existing radiopharmacies have established logistics for distributed supply Map of US Radiopharmacies* + There were 40+ million diagnostic nuclear medicine procedures performed in the US in in 2022 + Multiple networks exist
Slide 37: Regional Manufacturing Allows Commercialization of 212Pb-labeled Finished Products
Regional Manufacturing Allows Commercialization of 2“2Pb-abeled Finished Products Limited numberof sites allows for “networkeffect” toensurerobustsupply chain Location Radius 11 hr 400i orate, A sim New York, NY 75m Los Angeles. CA 46m Astin, TK 32m ‘tanta, GA 57m Central Flori, FL 25m Proposed or e
Slide 38: Strong Intellectual Property Portfolio
Strong Intellectual Property Portfolio Fully Licensed University/Perspective owned IP 4 provisional patents + Composition of Matter and Use radiometal separations technology, novel pan-cancer product . generator technologies (US., EU. Australia) 3 non-provisional patent applications + Composition of
Slide 39: Appendix
Appendix
Slide 40: Targeting cancer from the inside out
Targeting cancer from the inside out We are developing game-changing Precision Medicine Therapeutics which harness the power of targeted Alpha-Particle Radiotherapies that make an impactful difference for cancer patients and the clinicians Who treat them.
Slide 41: Who We Are
Who WeAre Perspective Therapeutics (NYSE-CAMQis a clinical stage precision medicine company, debuting as a public companyin 2023, With a broad pipeline and two priortized lead programsin clinic, we are disrupting traditional radiation therapy treatment for cancer though developinga new class of imag
Slide 42: α-Particles Have Superior Tumor Killing Properties vs. β-Particles
a-Particles Have Superior Tumor Killing Properties vs. B-Particles Higher atomic mass Lethal double-stranded DNA breaks DNA repair mechanisms overwhelmed More Powerful Effects Than Approved B Therapy sion Delivery Provides Deposit energy over 3-5 cell diameters vs. beta particles (up to 200 cels) Ta
Slide 43: Lead-212: The Optimal Therapeutic Isotope
Lead-212 #2Pb): The Optimal Therapeutic Isotope Greater Therapeutic Energy Expected to improve Outcome with Better Safety Alpha particle range (up to 3 cell diameters) Beta range (up to 200 cell diameters) Tumor Cells Normal Tissue ane 7 , ba ee a cf
Slide 44: Lead (Pb): The Ideal Theranostic Isotope
Lead (Pb): The Ideal Theranostic Isotope {eal agseement between imaging and therapeutic compounds =p and Pb matched pair Realy available isotope Generator produced {deat chelator Proprietary chelatorcarries 0 net charge Septseamer ren ees Conjugation to small peptides igh tumor retention @24 hours H
Slide 45: Peptides are Ideal Ligands for Radiopharmaceutical Therapy
Peptides are Ideal Ligands for Radiopharmaceutical Therapy Monoclonal antibodi Peptides: saa [ee ina Kinetics Peptide Kinetics sive | extenoed z seeds ‘mAb Size: 150 kDa Time Peptide Size: 15 kDa Time Ae
Slide 46: VMT-α-NET is Developed to Address the Unmet Need in NETs
VMT-a-NET is Developed to Address the Unmet Need in NETs CurrentStandard of Care limited to subset of NETs patients NETTER.A Stay: Final overall sun Significant unmet need: + ~12K new diagnoses annually in the US* + ~175,000+ people are living with this diagnosis in the US* Market Opportunity Ade 08
Slide 47: 225Ac Isotope Decay Chain and Potential for Off-Target Toxicity
225Ac Isotope Decay Chain and Potential for Off-Target Toxicity 7 Alpha-particle emission imparts sufficient “recoil” energy to break chemical bonds ‘Aypn01 ero soy4ERvEIeG
Slide 48: Isotope Decay Chain - Product Implications
Isotope: Decay chain - Product implications Post inalradiolabelingand purification, alpha and beta emittingdaughtersof 225Acbuild up fast Radioactivity (Bq) In F213 811-209 mPo-213 owth 4x more unlabeled daughter activity in about 4 hrs 0 a 2 3 4 5 Hours Post Puntication ‘1 KBq 2°Ac starting dose si
Slide 49: 212Pb Isotope Decay Chain and Importance of the Pb-Specific Chelator
212Pb Isotope Decay Chain and Importance of the Pb-Specific Chelator ‘Where the drug goes = where the alpha particle is deposited °. OH + Perspective's proprietary chelator retains 98% of 2338) after transition in drug formulation + Generic chelators leak the Bi alpha-emitting daughter up to 36%*
Slide 50: Clinical Collaborators and Advisors
Geottrey®. Johnson MD. PRD RE (Chait, Ovision of Nuclear Medicine (har, PET/MRREO Associate Professor Departments of Radiology and immunology Mayo Clinic ~ Rochester, MN Vikas Prasad MD Professor of Radiology bd Associate Professor Radiology, Divison of Nuclear Medicine Washington Universit inSt Lou
Slide 51: Appendix: VMT-α-NET
Appendix: VMT-o-NET
Slide 52: Significant Tumor Response After Two Doses
Significant Tumor Response After Two Doses Patient 3: Metastatic NET Pancreas with Liver Metastases MIP image Before Treatment MIP image After 2nd Treatment v9 Liver Metastases after treatmentwith two doses
Slide 53: Reduction in Size of Necrotic Masses After Doses
Reduction in Size of Necrotic Masses After 2 Doses Patient5: Pancreatic NET Tumor Before Treatment Tumor After Treatment
Slide 54: Favorable Safety and Tolerability Profile
Favorable Safety and Tolerability Profile FourMonths Post-Treatment (5 Patients) i
Slide 55: Serious Adverse Event in Patient
Serious Adverse Event in Patient 2 Myelodysplastic syndrome (MDS) Unrelated to Study Drug " (33 > Pre-Therapy Post-Therapy Patient Profile 79 year-male Metastatic Medullary Carcinoma thyroid Disease progression of TKI's Received total 3 doses of [2!2Pb]VMT-o-NET therapy at an interval of 8 weeks (Cu
Slide 56: Serious Adverse Event in Patient
Serious Adverse Eventin Patient 6 Acute Cardiac Event Unrelated to Study Drug Patient Profile + 25 yearmale + Metastatic NET-pancreas + Longstanding disease (>6 years duration) + Heavily pretreated with Inj. Sandostatin and 4 cycles of 277Lu- DOTATATE along with CAPTEM regimen ae + Received 1 dose o
Slide 57: Appendix: Manufacturing, Production and Logistics of 212Pb-labeled Therapeutics
PERSPECTiVE THERAPEUTICS Appendix: Manufacturing, Production and Logistics of #7Pb-labeled Therapeutics NYSE: CATX
Slide 58: Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics
Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics Naturally Occurring Isotope Decay—No Irradiation Processes Required Pen sip baad Naturally occurring, or produced as a waste product, ‘+ Multiple global suppliers including natural decay + 2year halflife allows stockpiling
Slide 59: Parent Isotope Source
Parent Isotope Source Key lsotopes for Supply:2°Th and?*Ra 228Th hall-ife of 1.9 years allows long term storage and extraction of daughter 2Ra 224Ra grows in naturally (without irradiation) from 228th decay Perspective currently has a 10 year Supply agreement with US Department of Energy Produced as
Slide 60: Flexible and Scalable Isotope Supply
Flexible and Scalable Isotope Supply 24Ra enables Regional Manufacturing Hubs 224Ra halflife of 3.6 days allows weekly shipments to regional manufacturing sites 2 3 Time (days) 232P grows in naturally (without irradiation) from 22*Ra decay Perspective's proprietary VMFa-GEN enables shipping of isoto
Slide 61: Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics
Isotope Decay Chain Dictates Supply, Purification, Manufacturing & Logistics ‘Naturally Occurring Isotope Decay-No Irradiation Processes Required Cental continental supply luted weehy for Ra Distributed continentaly luted daily for22Pb Dally manufacture of finished loses Leverages existing networks
Slide 62: As a Medical Isotope, 212Pb is Plentiful, Storable, Scalable
As a Medical Isotope, *!Pb is Plentiful, Storable, Scalable & Suitable for Distributed Logistics The supply chain is lower-risk and more robust than other therapeutic isotopes Sa + Naturally occurring in mining waste + Also produced in industria! nuclear processes + Can be made on demand if needed S
Slide 63: Parent Isotope Source
Parent Isotope Source + Storage of thorium-228 (half-life of 1.9 years) allows for “on-demand” purification of Ra-224 and Pb-212 + Multiple purfication/production methods for Th-228 with different starting materials and processes, including Ra-228 generators (hat: lite 5.7 years) + Ra-224 (half-life
Slide 64: Parent Isotope Supply
Parent Isotope Supply + Thorium-228 is available as a natural isotope buts also producedas a waste product from the nuclear fuel cycle. and as a result of production of therapeuticisotope Ra-223 (marketed as Xofigo, Bayer) + Both Ac-227 (the parent isotope of Ra-223) and Th-228 are created when DOE'
Slide 65: Pb-212 Isotope Purification
Pb-212 Isotope Purification + Similar in size toGa-68 generators * “Desktop” generators * Hot celsied generators + Usetulforprectnial RED and ines ils + Usefulforcial tals lined commercial» For commercial potuctn + Nimble portable supply evalebetorether — producton + Not-portabie we location wthin h
Slide 66: 212Pb Supply via Reusable Desktop Isotope Generator
12Pb Supply via Reusable Desktop Isotope Generator \VMT-a-GEN Small, Elegant 2!2Pb Isotope Generator mn and mining waste material nsive feedstoc! lead shielded containment + Long-term sup with US DOE ly contract secured * On demand daily * Auto-regenerates overnight an + ~1 week shelf life
Slide 67: Scalable Manufacturing and Distribution Logistics
Scalable Manufacturing and Distribution Logistics Perspective’s plan to flexibly scale manufacturing to commercial levels (100,000+ doses per year) Ee =a eo ee poss | bee ye i = -~ - & > > i oe oe crane ay Sia Process pysbihiend + Commercial supply will require the use of an isotope production syste
Slide 68: Infrastructure and Distribution Networks for Radiopharmaceuticals are Mature
Infrastructure and Distribution Networks for Radiopharmaceuticals are Mature Existing radiopharmacies have established logistics for distributed supply lap of US Radiopharmacies’ * There were 40+ million diagnostic huclear medicine procedures performed in the US in in 2022 + Multiple networks exist
Slide 69: Regional Manufacturing Allows Commercialization of 212Pb-labeled Finished Products
Regional. aanifoct dng Allows Commercialization of ??Pb-labeled Finished Products Limited number of sites allows for “network effect” to ensure robust supply chain Radius 400 miles population Coralville, 8 “SL million ‘Los Angeles. CA ‘Austin, TX ratlents GA) : Central Florida, FL Location Top 6 sit
Slide 70: Comparison to Existing Approaches
Comparison to Existing Approaches
Slide 71: Isotope: Availability and Scalability at Clinical Development Stages
Isotope: Availability and scalability at Clinical Development Stages Generatorbased supply thatcan be deployed locally or regionally (Portable or inhouse permanent installation) For mul erator Per
Slide 72: Isotope and Finished Product Landscape
Isotope and Finished Product Landscape Commercial Supply Potent otopeSouce +477 Mtebumd7Siexpenve. Unteasuppy tm essen Hormcve Low ‘eurces Purfenoniscamersone process {Seas Unted arose paret opps ch asR8:226, 239 Isotope eduction «tiple proticionmetbos ata, some astocontamiantsHeymdve tow Nemes “fyp
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