SEATTLE, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. ("Perspective" or the "Company") (NYSE AMERICAN: CATX), a radiopharmaceutical company pioneering advanced treatments for cancers throughout the body, today announced that members of its senior leadership team will participate in and be available for one-on-one meetings with investors at the following upcoming conferences. Cantor Global Healthcare Conference – Fireside Chat Date: Thursday, September 4, 2025 Time: 1:00 p.m. - 1:30 p.m. ...

[FORM 10-Q Filing Information](index=1&type=section&id=FORM%2010-Q) [Registrant Information](index=1&type=section&id=Registrant%20Information) This report is a quarterly filing by Perspective Therapeutics, Inc. for the period ended June 30, 2025, registered in Delaware, listed on NYSE American LLC as CATX, and classified as a non-accelerated filer and smaller reporting company - Company Name: PERSPECTIVE THERAPEUTICS, INC[1](index=1&type=chunk) - Reporting Period: Quarter ended June 30, 2025[1](index=1&type=chunk) Company Registration Information | Metric | Details | | :--- | :--- | | Registered State | Delaware | | Stock Symbol | CATX | | Registered Exchange | NYSE American LLC | | Filing Status | Non-accelerated filer, Smaller reporting company | | Common Stock Par Value | $0.001 | | Common Stock Outstanding (as of August 11, 2025) | 74,262,990 | [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](index=3&type=section&id=CAUTIONARY%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This report contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, covering future financial conditions, operations, strategies, and industry trends - Forward-looking statements in this report are intended to qualify for the safe harbor provisions of the Private Securities Litigation Reform Act of 1995[5](index=5&type=chunk) - Forward-looking statements cover the company's future financial condition, operating results, business strategy, management objectives, industry trends, and future events[6](index=6&type=chunk) - Actual results may differ materially from expectations due to risks and uncertainties described in the "Risk Factors" section[7](index=7&type=chunk) [AVAILABLE INFORMATION](index=4&type=section&id=AVAILABLE%20INFORMATION) [Company Website and SEC Filings](index=4&type=section&id=Company%20Website%20and%20SEC%20Filings) The company provides free access to its annual, quarterly, and current reports, and other SEC filings on its website after electronic submission - The company's annual, quarterly, current reports, and other SEC filings and amendments are available for free on its website, www.perspectivetherapeutics.com, after filing with the SEC[9](index=9&type=chunk) [PART I FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Item 1 Financial Statements](index=5&type=section&id=Item%201%20Financial%20Statements) This section presents the company's unaudited condensed consolidated financial statements for the period ended June 30, 2025, including balance sheets, statements of operations and comprehensive loss, cash flows, and changes in stockholders' equity [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Presents the company's financial position, including assets, liabilities, and equity, as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheets Key Data (in thousands of US dollars) | Metric | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $28,849 | $61,580 | | Short-term investments | $162,729 | $165,336 | | Total current assets | $195,958 | $231,160 | | Property and equipment, net | $62,599 | $57,321 | | Intangible assets, IPR&D | $50,000 | $50,000 | | Total assets | $310,725 | $341,101 | | Total current liabilities | $12,986 | $18,230 | | Total liabilities | $45,033 | $50,433 | | Total stockholders' equity | $265,692 | $290,668 | | Accumulated deficit | $(271,381) | $(231,719) | - As of June 30, 2025, the company's cash and cash equivalents decreased by **53.15%** year-over-year, total assets decreased by **8.89%**, total liabilities decreased by **10.71%**, total stockholders' equity decreased by **8.59%**, and accumulated deficit increased by **17.16%**[13](index=13&type=chunk) [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Details the company's revenues, expenses, and net loss for the three and six months ended June 30, 2025, and 2024 Condensed Consolidated Statements of Operations and Comprehensive Loss Key Data (in thousands of US dollars, except per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Grant revenue | $290 | $526 | $632 | $851 | | Research and development expenses | $16,620 | $9,275 | $30,952 | $16,727 | | General and administrative expenses | $7,709 | $5,514 | $15,551 | $11,392 | | Operating loss | $(24,039) | $(14,263) | $(45,871) | $(27,268) | | Net loss | $(21,485) | $(11,704) | $(39,662) | $(23,988) | | Basic and diluted loss per share | $(0.29) | $(0.18) | $(0.54) | $(0.41) | - For the three months ended June 30, 2025, grant revenue decreased by **44.9%** year-over-year, research and development expenses increased by **79.2%**, operating loss expanded by **68.5%**, net loss expanded by **83.6%**, and loss per share expanded by **61.1%**[14](index=14&type=chunk) - For the six months ended June 30, 2025, grant revenue decreased by **25.7%** year-over-year, research and development expenses increased by **85.0%**, operating loss expanded by **68.2%**, net loss expanded by **65.3%**, and loss per share expanded by **31.7%**[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Summarizes the cash inflows and outflows from operating, investing, and financing activities for the six months ended June 30, 2025, and 2024 Condensed Consolidated Statements of Cash Flows Key Data (in thousands of US dollars) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(41,535) | $4,946 | | Net cash (used in) provided by investing activities | $(1,301) | $(50,592) | | Net cash provided by financing activities | $10,105 | $288,412 | | Net (decrease) increase in cash and cash equivalents | $(32,731) | $242,766 | | Cash and cash equivalents at end of period | $28,849 | $252,186 | - For the six months ended June 30, 2025, cash flow from operating activities shifted from a net inflow to a net outflow, cash outflow from investing activities significantly decreased, and cash inflow from financing activities substantially declined, leading to a significant reduction in cash and cash equivalents at period-end[16](index=16&type=chunk) [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Details the changes in the company's common stock, additional paid-in capital, accumulated other comprehensive income (loss), and accumulated deficit for the periods presented Condensed Consolidated Statements of Changes in Stockholders' Equity Key Data (in thousands of US dollars, except shares) | Metric | Balance as of December 31, 2024 | Balance as of March 31, 2025 | Balance as of June 30, 2025 | | :--- | :--- | :--- | :--- | | Common stock shares | 70,671,464 | 74,050,841 | 74,262,990 | | Common stock amount | $70 | $73 | $74 | | Additional paid-in capital | $522,368 | $534,449 | $536,996 | | Accumulated other comprehensive income (loss) | $(51) | $19 | $3 | | Accumulated deficit | $(231,719) | $(249,896) | $(271,381) | | Total stockholders' equity | $290,668 | $284,645 | $265,692 | - As of June 30, 2025, total stockholders' equity decreased by approximately **8.6%** compared to December 31, 2024, primarily due to an increase in net loss, despite an increase in additional paid-in capital from common stock issuance through the ATM agreement[18](index=18&type=chunk) [Notes to the Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and additional information supporting the unaudited condensed consolidated financial statements [1. Basis of Presentation and Summary of Significant Accounting Policies](index=10&type=section&id=1.%20Basis%20of%20Presentation%20and%20Summary%20of%20Significant%20Accounting%20Policies) Outlines the basis of financial statement presentation and summarizes the company's significant accounting policies, including its business nature and recent corporate actions - The company is a radiopharmaceutical development company focused on advanced therapeutic applications for systemic cancer[22](index=22&type=chunk) - On April 12, 2024, the company completed the sale of its Cesium-131 brachytherapy business, with related financial information presented as discontinued operations[24](index=24&type=chunk) - On June 14, 2024, the company effected a 1-for-10 reverse stock split, and all historical per share data has been retroactively adjusted[25](index=25&type=chunk) - The company currently operates in a single operating and reporting segment: radiopharmaceutical development[26](index=26&type=chunk) Liquidity Position (in thousands of US dollars) | Metric | June 30, 2025 | | :--- | :--- | | Cash, cash equivalents, and short-term investments | $191,600 | | Accumulated deficit | $(271,400) | - The company expects its cash resources as of June 30, 2025, to be sufficient to support its currently planned clinical milestones and operating investments through the end of 2026[28](index=28&type=chunk) [2. Loss per Share](index=12&type=section&id=2.%20Loss%20per%20Share) Explains the calculation of loss per share, including the treatment of potentially dilutive securities - Due to the company's net loss position, common stock warrants and options are considered anti-dilutive in the calculation of diluted loss per share[32](index=32&type=chunk) Potentially Dilutive Securities (in shares) | Security Type | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Common stock warrants | 415,779 | 416,164 | | Common stock options | 10,185,506 | 6,934,022 | | Total potentially dilutive securities | 10,601,285 | 7,350,186 | [3. Investments and Agreements](index=14&type=section&id=3.%20Investments%20and%20Agreements) Details various investment and financing agreements, including ATM agreements, public offerings, and strategic partnerships - 2024 ATM Agreement: On February 18, 2025, the company sold **3,379,377** shares of common stock through this agreement, generating gross proceeds of approximately **$10.2 million**[36](index=36&type=chunk)[40](index=40&type=chunk) - May 2024 Registered Offering: Completed on May 29, 2024, generating gross proceeds of approximately **$80 million**, involving the issuance of common stock and pre-funded warrants, with all pre-funded warrants exercised in the second quarter of 2025[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) - March 2024 Institutional Investor Private Placement: Completed on March 6, 2024, generating gross proceeds of approximately **$87.4 million**, involving the issuance of **9,200,998** shares of common stock[44](index=44&type=chunk)[45](index=45&type=chunk) - Lantheus Agreements: Include an investment agreement with Lantheus on January 8, 2024 (sale of **5,634,235** shares of common stock), an asset purchase agreement (acquisition of Progenics' radiopharmaceutical manufacturing facility for **$8 million** cash), and an option agreement (Lantheus paid **$28 million** for exclusive negotiation rights for [212Pb]VMT-α-NET license)[47](index=47&type=chunk)[48](index=48&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk) - January 2024 Public Offering: Completed on January 22, 2024, generating gross proceeds of approximately **$69 million**, involving the issuance of common stock and pre-funded warrants, with all pre-funded warrants exercised in the fourth quarter of 2024[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) - 2023 ATM Agreement: On April 11, 2024, **3,535,246** shares of common stock were sold, generating gross proceeds of approximately **$49.5 million**, and this agreement was terminated on August 12, 2024[60](index=60&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) [4. Discontinued Operations](index=17&type=section&id=4.%20Discontinued%20Operations) Reports on the financial impact and details of the company's divested Cesium-131 brachytherapy business - The company completed the sale of its Cesium-131 brachytherapy business on April 12, 2024, receiving common stock of GT Medical and cash royalties on future sales[64](index=64&type=chunk)[65](index=65&type=chunk) Discontinued Operations Income (Loss) (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $0 | $205 | $0 | $2,178 | | Total gain (loss) from discontinued operations | $514 | $(490) | $514 | $(949) | - In the second quarter of 2025, the company recognized **$0.2 million** in royalty revenue and reduced its environmental waste remediation reserve by **$0.3 million** based on estimates from a hazardous waste disposal vendor[67](index=67&type=chunk) [5. Property and Equipment](index=18&type=section&id=5.%20Property%20and%20Equipment) Provides details on the company's property and equipment, including recent acquisitions and commitments for manufacturing facilities - In 2024, the company purchased buildings in Houston, Chicago, and Los Angeles, planned for the production of its product candidates[70](index=70&type=chunk) - The company entered into equipment and services agreements with Comecer SpA totaling approximately **€49 million** for the procurement of radiopharmaceutical manufacturing equipment[70](index=70&type=chunk) Property and Equipment, Net (in thousands of US dollars) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Property and equipment, net | $62,599 | $57,321 | | Construction in progress | $47,991 | $42,601 | [6. Other Intangible Assets](index=19&type=section&id=6.%20Other%20Intangible%20Assets) Discusses the company's intangible assets, specifically in-process research and development (IPR&D) - The company's in-process research and development (IPR&D) asset remained unchanged at **$50 million** as of June 30, 2025, and December 31, 2024[72](index=72&type=chunk) - No impairment testing of intangible assets was conducted in the second quarter of 2025[72](index=72&type=chunk) [7. Available-for-Sale Securities](index=19&type=section&id=7.%20Available-for-Sale%20Securities) Details the company's available-for-sale securities, their fair value, and management's assessment of unrealized losses Fair Value of Available-for-Sale Securities (in thousands of US dollars) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total available-for-sale securities | $162,729 | $165,336 | - The company classifies available-for-sale securities as current assets to meet working capital needs[75](index=75&type=chunk) - As of June 30, 2025, **71** available-for-sale securities were in an unrealized loss position, but the company does not believe a sale of these securities will be required[75](index=75&type=chunk) [8. Fair Value Measurements](index=20&type=section&id=8.%20Fair%20Value%20Measurements) Explains the fair value measurement of the company's financial instruments, primarily cash equivalents and available-for-sale securities Fair Value of Cash Equivalents and Available-for-Sale Securities (in thousands of US dollars) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total cash equivalents | $25,095 | $59,720 | | Total available-for-sale securities | $162,729 | $165,336 | | Total cash equivalents and available-for-sale securities | $187,824 | $225,056 | - The company's cash equivalents and available-for-sale securities are primarily measured at fair value using quoted prices in active markets (Level 1) or observable market data (Level 2), with no Level 3 financial instruments[76](index=76&type=chunk)[77](index=77&type=chunk) [9. Share-Based Compensation](index=21&type=section&id=9.%20Share-Based%20Compensation) Provides information on the company's share-based compensation plans and related expenses - On May 31, 2024, shareholders approved the amended 2020 Equity Incentive Plan, increasing the total authorized common stock by **4,870,092** shares to **12,500,000** shares and adjusting the "evergreen" provision[79](index=79&type=chunk) Share-Based Compensation Expense (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Research and development expenses | $958 | $259 | $1,855 | $522 | | General and administrative expenses | $1,445 | $328 | $2,646 | $687 | | Total share-based compensation expense | $2,403 | $587 | $4,501 | $1,209 | - For the six months ended June 30, 2025, total share-based compensation expense increased by **272.3%** year-over-year[80](index=80&type=chunk) [10. Commitments and Contingencies](index=22&type=section&id=10.%20Commitments%20and%20Contingencies) Details the company's commitments and contingent liabilities, including legal settlements and purchase obligations - The company expects to resolve a shareholder lawsuit for a total amount not exceeding **$0.2 million** and has accrued a corresponding liability[81](index=81&type=chunk) - In May 2025, the company entered into a purchase order with the U.S. Department of Energy (DOE), committing to purchase approximately **$8.4 million** of Thorium-228 between 2025 and 2026[82](index=82&type=chunk) [11. Related Parties](index=22&type=section&id=11.%20Related%20Parties) Discloses transactions and relationships with related parties, specifically Lantheus - Lantheus is a significant shareholder, holding **19.99%** of common stock as of January 8, 2024, and increasing to approximately **19.9%** after the March 2024 private placement[83](index=83&type=chunk)[86](index=86&type=chunk) - On January 8, 2024, the company entered into an asset purchase agreement with Progenics, an affiliate of Lantheus, to acquire its manufacturing facility for **$8 million**[84](index=84&type=chunk) - Lantheus paid **$28 million** for exclusive negotiation rights for [212Pb]VMT-α-NET, of which **$1.4 million** was recognized as "other income from related parties" after the right of first refusal and last look expired on January 8, 2025[85](index=85&type=chunk)[86](index=86&type=chunk) [12. Leases](index=24&type=section&id=12.%20Leases) Provides information on the company's operating leases, including lease expenses, remaining terms, and future payment obligations - The company entered into several new operating lease agreements in 2024 and 2023, including laboratory and office spaces in Iowa, New Jersey, and Washington[88](index=88&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk)[92](index=92&type=chunk) Operating Lease Expense (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Operating lease expense | $300 | $200 | $600 | $300 | - As of June 30, 2025, the company's operating leases had a weighted-average remaining term of **2.8 years** and a discount rate of **8%**[93](index=93&type=chunk) Future Operating Lease Payments and Lease Liabilities (in thousands of US dollars) | Year | Amount | | :--- | :--- | | 2025 (remaining six months) | $559 | | 2026 | $647 | | 2027 | $493 | | 2028 | $443 | | Total | $2,142 | | Less: Estimated interest | $(224) | | Total lease liabilities | $1,918 | | Less: Current portion | $(847) | | Non-current lease liabilities | $1,071 | - Asset retirement obligations related to the Richland facility were transferred to GT Medical, but the company retains an estimated **$0.2 million** liability for hazardous waste removal[95](index=95&type=chunk) [13. Note Payable](index=25&type=section&id=13.%20Note%20Payable) Details the company's note payable, including its purpose, interest rate, and maturity - On December 29, 2022, the company obtained a **$1.7 million** promissory note for the purchase of land and buildings in Coralville, Iowa, with an annual interest rate of **6.15%**[96](index=96&type=chunk) Note Payable (in thousands of US dollars) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total note payable | $1,651 | $1,677 | | Less: Current portion | $(54) | $(52) | | Note payable, long-term portion | $1,597 | $1,625 | - The remaining balance of approximately **$1.5 million** on this note is due on December 29, 2027[96](index=96&type=chunk) [Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operating results for the period ended June 30, 2025, covering business overview, clinical programs, funding, manufacturing, and capital activities [Overview](index=26&type=section&id=Overview) Provides a high-level summary of the company's business as a radiopharmaceutical developer and its focus on targeted cancer therapies - The company is a radiopharmaceutical development company utilizing proprietary Lead-212 (212Pb) alpha-emitting isotope technology to develop targeted therapies and complementary imaging diagnostics (theranostics) for cancer[99](index=99&type=chunk) - The company's VMT-α-NET (neuroendocrine tumors), VMT01 (melanoma), and PSV359 (solid tumors) programs are all in Phase 1/2a imaging and therapeutic clinical trials[100](index=100&type=chunk) [Program Candidates](index=26&type=section&id=Program%20Candidates) Details the progress and key findings of the company's various radiopharmaceutical program candidates in clinical development [VMT-α-NET](index=26&type=section&id=VMT-%CE%B1-NET) Focuses on the development and clinical trial progress of VMT-α-NET for treating SSTR2-expressing neuroendocrine tumors - VMT-α-NET is designed to target tumor cells expressing somatostatin receptor type 2 (SSTR2) for the treatment of unresectable or metastatic SSTR2-expressing neuroendocrine tumors (NETs)[101](index=101&type=chunk) - Phase 1/2a study progress: Cohort 2 completed enrollment of **46** patients, Cohort 3 opened in late June 2025, with **2** patients treated as of July 31, 2025[102](index=102&type=chunk) - Safety data presented at the 2025 ASCO meeting showed no dose-limiting toxicities (DLTs), discontinuations due to adverse events (AEs), or Grade 4/5 treatment-related AEs observed in **42** patients[104](index=104&type=chunk) - Preliminary efficacy data showed **3** confirmed responses and **1** unconfirmed response, with **7** patients achieving disease control in the first **9** patients[105](index=105&type=chunk) [VMT01](index=28&type=section&id=VMT01) Provides an update on the VMT01 program, targeting MC1R-expressing melanoma, including its fast track designation and combination therapy studies - VMT01 targets melanoma expressing melanocortin 1 receptor (MC1R) for the treatment of second-line or later MC1R-positive metastatic melanoma[111](index=111&type=chunk) - In September 2024, the FDA granted Fast Track designation to [212Pb]VMT01[112](index=112&type=chunk) - The company is collaborating with Bristol Myers Squibb to evaluate the safety and tolerability of [212Pb]VMT01 in combination with nivolumab[113](index=113&type=chunk) - Preliminary results showed no DLTs in Cohort 1 and Cohort 2, with AEs mostly Grade 1/2 and no reports of nephrotoxicity[114](index=114&type=chunk)[115](index=115&type=chunk) - The Safety Monitoring Committee (SMC) recommended exploring a lower dose level of **1.5 mCi**, with enrollment open for both monotherapy and combination with nivolumab[117](index=117&type=chunk) [PSV359](index=30&type=section&id=PSV359) Details the development of PSV359, a novel cyclic peptide targeting FAP-α for pan-cancer potential, and its clinical trial initiation - PSV359 is a novel cyclic peptide targeting FAP-α (fibroblast activation protein alpha) expressed on tumor stromal cells and some cancer cells, with pan-cancer target potential[118](index=118&type=chunk) - First-in-human SPECT/CT imaging showed [203Pb]PSV359 had good tumor targeting and retention, with rapid clearance from normal organs[118](index=118&type=chunk)[119](index=119&type=chunk) - An IND application was submitted in December 2024, approved by the FDA in the first quarter of 2025, and the first patient received [212Pb]PSV359 treatment on April 29, 2025[121](index=121&type=chunk) [Discovery Program](index=30&type=section&id=Discovery%20Program) Describes the company's discovery efforts to develop new constructs for potential first-in-human imaging and therapeutic benefits - The company's discovery team is preparing several new constructs for potential first-in-human imaging as a de-risking step for potential therapeutic benefit, including a pre-targeting platform licensed from Stony Brook University[122](index=122&type=chunk) [Intellectual Property](index=30&type=section&id=Intellectual%20Property) Highlights recent patent grants covering the company's 212Pb production technology, VMT-α-NET compound, and lead-specific chelator - The company recently obtained two U.S. patents and one European patent covering its 212Pb scalable production technology, VMT-α-NET compound, and lead-specific chelator[123](index=123&type=chunk) - The 212Pb generation technology patent is valid until **August 2044**, the VMT-α-NET compound patent until **January 2041**, and the lead-specific chelator European patent until **April 2039**[123](index=123&type=chunk) [Funding Requirements](index=30&type=section&id=Funding%20Requirements) Discusses the company's anticipated funding needs to advance its clinical programs and expand operations, and its current liquidity position - The company expects expenses to continue increasing as preclinical activities, clinical trials, and commercialization of product candidates progress[124](index=124&type=chunk) - As of June 30, 2025, the company had **$191.6 million** in cash, cash equivalents, and short-term investments, expected to be sufficient to support its currently planned clinical milestones and operating investments through the end of 2026[126](index=126&type=chunk) - Management anticipates a significant increase in research and development and general and administrative expenses to advance clinical and preclinical assets[126](index=126&type=chunk) [Manufacturing and Supply](index=32&type=section&id=Manufacturing%20and%20Supply) Outlines the company's strategy for manufacturing and supplying its radiopharmaceutical candidates, including partnerships and facility plans - The company assembles and manufactures its radiopharmaceutical product candidates by chelating 212Pb with targeting peptides[127](index=127&type=chunk) - The company plans to utilize a combination of third-party contract manufacturing organizations (CMOs) and its own FDA CGMP-compliant manufacturing sites to produce and distribute doses[127](index=127&type=chunk) - The company entered into a purchase order with the U.S. Department of Energy (DOE), committing to purchase approximately **$8.4 million** of Thorium-228 between 2025 and 2026[128](index=128&type=chunk) - In 2024, the company entered into equipment and services agreements with Comecer SpA totaling approximately **€49 million** for the procurement of radiopharmaceutical manufacturing equipment[129](index=129&type=chunk) [Facility Acquisitions](index=32&type=section&id=Facility%20Acquisitions) Details the company's recent acquisitions of buildings and a manufacturing facility to support its production capabilities - In 2024, the company acquired buildings in Houston, Chicago, and Los Angeles, planned for the manufacturing of its product candidates[130](index=130&type=chunk) - The company also acquired assets and related leases for Lantheus' radiopharmaceutical manufacturing facility in Somerset, New Jersey, achieving its first shipment and patient dosing in October 2024[131](index=131&type=chunk) [Capital Market Activities](index=33&type=section&id=Capital%20Market%20Activities) Reports on the company's recent capital market activities, including its ATM agreement for common stock sales - On August 13, 2024, the company entered into the 2024 ATM Agreement, allowing for the sale of up to **$250 million** of common stock; as of February 18, 2025, **3,379,377** shares of common stock were sold, generating gross proceeds of approximately **$10.2 million**[134](index=134&type=chunk)[138](index=138&type=chunk) [Brachytherapy Divestiture](index=33&type=section&id=Brachytherapy%20Divestiture) Provides an update on the completed divestiture of the Cesium-131 brachytherapy business and related financial impacts - The company completed the sale of its Cesium-131 brachytherapy business to GT Medical Technologies, Inc. on April 12, 2024[139](index=139&type=chunk) - As part of the transaction, the company received common stock of GT Medical and cash royalties on future sales for four years, with royalty rates dependent on sales and product type[140](index=140&type=chunk)[143](index=143&type=chunk) - In the second quarter of 2025, the company recognized **$0.2 million** in royalty revenue and reduced its environmental waste remediation reserve by **$0.3 million**[140](index=140&type=chunk) [Legislative Update](index=33&type=section&id=Legislative%20Update) Informs about recent tax legislation and its anticipated impact on the company's financial performance - On July 4, 2025, the President signed the "One Big Beautiful Bill Act" (OBBBA) tax legislation, which the company does not expect to have a material impact on its 2025 financial results[142](index=142&type=chunk) [Critical Accounting Policies and Estimates](index=35&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) States that there have been no significant changes to the company's critical accounting policies and estimates - There have been no significant changes to the company's critical accounting policies and estimates as of June 30, 2025[145](index=145&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Analyzes the company's operating performance, focusing on changes in grant revenue and operating expenses [Grant Revenue](index=35&type=section&id=Grant%20Revenue) Discusses the trends and sources of the company's grant revenue Grant Revenue (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Grant revenue | $290 | $526 | $632 | $851 | - Grant revenue decreased year-over-year, primarily from work with the National Institutes of Health, as the company currently generates no sales revenue from its alpha-therapeutic product candidates[148](index=148&type=chunk) [Operating Expenses](index=35&type=section&id=Operating%20Expenses) Examines the changes and drivers behind the company's operating expenses, including research and development and general and administrative costs [Research and Development](index=35&type=section&id=Research%20and%20Development) Analyzes the increase in research and development expenses, attributing it to clinical activities, drug costs, and personnel Research and Development Expenses (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Research and development expenses | $16,620 | $9,275 | $30,952 | $16,727 | - Research and development expenses increased by **$7.3 million** and **$14.2 million** for the three and six-month periods, respectively, primarily due to increased clinical site activities, drug and delivery costs, and higher personnel costs, including share-based compensation[149](index=149&type=chunk) - Management expects research and development expenses to continue increasing to invest in new radiopharmaceutical development and expand manufacturing capabilities, while also evaluating the potential impact of trade policies on raw material costs[150](index=150&type=chunk)[151](index=151&type=chunk) [General and Administrative](index=36&type=section&id=General%20and%20Administrative) Discusses the increase in general and administrative expenses, mainly driven by higher personnel costs General and Administrative Expenses (in thousands of US dollars) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | General and administrative expenses | $7,709 | $5,514 | $15,551 | $11,392 | - General and administrative expenses increased by **$2.2 million** and **$4.2 million** for the three and six-month periods, respectively, primarily due to increased personnel costs, including share-based compensation[153](index=153&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) Assesses the company's liquidity position, cash flow trends, and future capital requirements [Cash Flow Summary](index=36&type=section&id=Cash%20Flow%20Summary) Provides a summary of cash flows from operating, investing, and financing activities and their impact on cash and cash equivalents Cash Flow Summary (in thousands of US dollars) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(41,535) | $4,946 | $(46,481) | | Net cash (used in) provided by investing activities | $(1,301) | $(50,592) | $49,291 | | Net cash provided by financing activities | $10,105 | $288,412 | $(278,307) | | Net (decrease) increase in cash and cash equivalents | $(32,731) | $242,766 | $(275,497) | - Cash outflow from operating activities increased by **$46.5 million**, primarily due to changes in operating assets and liabilities and an increased net loss[154](index=154&type=chunk) - Cash outflow from investing activities decreased by **$49.3 million**, mainly due to increased maturities of short-term investments, decreased purchases of short-term investments, and reduced increases in property and equipment[155](index=155&type=chunk) - Cash inflow from financing activities decreased by **$278.3 million**, primarily due to reduced proceeds from capital market transactions compared to the prior year[156](index=156&type=chunk) [Sources of Liquidity](index=38&type=section&id=Sources%20of%20Liquidity) Details the various capital market transactions and agreements that have provided liquidity to the company - 2024 ATM Agreement: On February 18, 2025, the company sold **3,379,377** shares of common stock through this agreement, generating gross proceeds of approximately **$10.2 million**[162](index=162&type=chunk) - May 2024 Registered Offering: Generated gross proceeds of approximately **$80 million**, involving the issuance of common stock and pre-funded warrants, with all pre-funded warrants exercised in the second quarter of 2025[163](index=163&type=chunk)[164](index=164&type=chunk)[165](index=165&type=chunk) - March 2024 Institutional Investor Private Placement: Generated gross proceeds of approximately **$87.4 million**, involving the issuance of **9,200,998** shares of common stock[166](index=166&type=chunk) - Lantheus Investment Agreement: The company sold **5,634,235** shares of common stock to Lantheus, representing **19.99%** of its outstanding common stock as of January 8, 2024[167](index=167&type=chunk) - January 2024 Public Offering: Generated gross proceeds of approximately **$69 million**, involving the issuance of common stock and pre-funded warrants, with all pre-funded warrants exercised in the fourth quarter of 2024[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) - 2023 ATM Agreement: On April 11, 2024, common stock was sold, generating gross proceeds of approximately **$49.5 million**[171](index=171&type=chunk) [Funding Requirements](index=42&type=section&id=Funding%20Requirements) Discusses the company's future capital needs, potential financing methods, and factors influencing these requirements - The company expects its cash, cash equivalents, and short-term investments (totaling **$191.6 million** as of June 30, 2025) to be sufficient to support its currently planned clinical milestones and operating investments through the end of 2026[172](index=172&type=chunk) - The company anticipates needing to raise additional capital before achieving profitability, potentially through equity financing, debt financing, strategic collaborations, or licensing agreements[173](index=173&type=chunk)[177](index=177&type=chunk) - Future funding requirements will depend on various factors, including the scope of research and development, regulatory approvals, employee recruitment, intellectual property maintenance, acquisition or licensing of other product candidates, and trade policies[175](index=175&type=chunk)[176](index=176&type=chunk) [Capital expenditures](index=44&type=section&id=Capital%20expenditures) Explains management's approach to capital allocation for research and development, general and administrative functions, clinical trials, and product supply - Management regularly reviews research and development and general and administrative functions to effectively allocate capital in support of clinical trials, preclinical activities, and product supply[178](index=178&type=chunk) [Financing activities](index=44&type=section&id=Financing%20activities) Outlines the expected sources for financing future capital needs, including equity sales, strategic collaborations, and debt financing - Future capital needs are expected to be financed through equity sales, strategic collaborations, debt financing, or other sources that may dilute existing stockholders' equity[179](index=179&type=chunk) [Other Commitments and Contingencies](index=44&type=section&id=Other%20Commitments%20and%20Contingencies) States that there have been no significant changes to other commitments and contingencies beyond those disclosed in the financial statements - Except as disclosed in Note 10 to the financial statements, there have been no significant changes to other commitments and contingencies as of June 30, 2025[180](index=180&type=chunk) [Off-Balance Sheet Arrangements](index=44&type=section&id=Off-Balance%20Sheet%20Arrangements) Confirms that the company has no off-balance sheet arrangements - The company has no off-balance sheet arrangements[181](index=181&type=chunk) [Item 3 Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Perspective Therapeutics, Inc. is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk[182](index=182&type=chunk) [Item 4 Controls and Procedures](index=45&type=section&id=Item%204%20Controls%20and%20Procedures) Management assessed the effectiveness of the company's disclosure controls and procedures as of June 30, 2025, concluding they are effective, with no material changes to internal controls during the quarter - As of June 30, 2025, the company's disclosure controls and procedures were determined to be effective in design and operation[183](index=183&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected or are reasonably likely to materially affect internal control[184](index=184&type=chunk) [PART II OTHER INFORMATION](index=46&type=section&id=PART%20II%20OTHER%20INFORMATION) This section provides additional information not covered in Part I, including legal proceedings, risk factors, equity sales, defaults, and exhibits [Item 1 Legal Proceedings](index=46&type=section&id=Item%201%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings and has no pending or threatened litigation that would significantly impact its business or financial condition - The company is not currently involved in any material legal proceedings[185](index=185&type=chunk) [Item 1A Risk Factors](index=46&type=section&id=Item%201A%20Risk%20Factors) There have been no material changes to the risk factors disclosed in the company's 2024 Form 10-K annual report, which investors should carefully consider - There have been no material changes to the risk factors disclosed in the 2024 Form 10-K annual report[186](index=186&type=chunk) [Item 2 Unregistered Sales of Equity Securities and Use of Proceeds](index=46&type=section&id=Item%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds during this quarter - No unregistered sales of equity securities and use of proceeds[187](index=187&type=chunk) [Item 3 Defaults Upon Senior Securities](index=46&type=section&id=Item%203%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during this quarter - No defaults upon senior securities[188](index=188&type=chunk) [Item 4 Mine Safety Disclosures](index=46&type=section&id=Item%204%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Mine safety disclosures are not applicable[189](index=189&type=chunk) [Item 5 Other Information](index=46&type=section&id=Item%205%20Other%20Information) No Rule 10b5-1 trading arrangements were adopted, modified, or terminated by the company's directors or officers during this quarter - No "Rule 10b5-1 trading arrangements" or "non-Rule 10b5-1 trading arrangements" were adopted, modified, or terminated by the company's directors or officers during this quarter[190](index=190&type=chunk) [Item 6 Exhibits](index=47&type=section&id=Item%206%20Exhibits) This section lists all exhibits filed with this report, including corporate charters, certification documents, and XBRL data files - Exhibits include corporate charters, certification documents (e.g., CEO and CFO certifications), and Inline XBRL files[192](index=192&type=chunk) [Signatures](index=48&type=section&id=Signatures) This section contains the official signatures of the company's authorized officers, certifying the accuracy and completeness of the report [Report Signatures](index=48&type=section&id=Report%20Signatures) This report was officially signed by Perspective Therapeutics, Inc.'s CEO, Johan (Thijs) Spoor, and CFO, Juan Graham, on August 13, 2025 - The report was signed on August 13, 2025[194](index=194&type=chunk) - Signatories include CEO Johan (Thijs) Spoor and CFO Juan Graham[194](index=194&type=chunk)

Perspective Therapeutics Provides Recent Business Highlights and Reports 2Q 2025 Results SEATTLE – August 13, 2025 – Perspective Therapeutics, Inc. ("Perspective," the "Company," "we," "us," and "our") (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatments for cancers throughout the body, today provided a business update and announced results for the quarter ended June 30, 2025. • [ 212Pb]VMT-α-NET study update presented at the 2025 ASCO Annual Meeting, based on updated ...

Core Viewpoint - Perspective Therapeutics, Inc. is advancing its clinical programs in radiopharmaceuticals aimed at treating various cancers, with significant updates on their ongoing studies and financial performance for the second quarter of 2025 [1][2][17]. Clinical Highlights - The company is conducting a multi-center, open-label study of [Pb]VMT-α-NET targeting SSTR2-positive neuroendocrine tumors, with 46 patients treated in Cohort 2 and Cohort 3 opened in June 2025 [3][4]. - As of April 30, 2025, four out of seven patients in Cohort 2 showed objective responses, and seven out of nine patients in Cohorts 1 and 2 remained free from disease progression after over one year [4]. - The safety profile of [Pb]VMT-α-NET remains favorable, with no dose-limiting toxicities reported among 42 patients [4]. - The company plans to present updates on its clinical programs at upcoming scientific congresses, including the European Society of Medical Oncology Congress in October 2025 [9][10]. Financial Summary - As of June 30, 2025, the company reported cash, cash equivalents, and short-term investments of approximately $192 million, down from $227 million at the end of 2024, which is expected to fund operations into late 2026 [17]. - Research and development expenses increased by approximately 79% year-over-year for Q2 2025, totaling $16.6 million, primarily due to heightened clinical activities and personnel costs [21]. - General and administrative expenses rose by approximately 40% year-over-year for Q2 2025, amounting to $7.7 million, driven by increased personnel costs [22]. - The total operating expenses for Q2 2025 were $24.3 million, a 65% increase compared to the same period in 2024 [23]. - The net loss for Q2 2025 was $21.5 million, or $0.29 per share, compared to a net loss of $11.7 million, or $0.18 per share, for Q2 2024 [24]. Company Overview - Perspective Therapeutics, Inc. specializes in developing advanced radiopharmaceutical treatments for cancer, utilizing proprietary technology that targets cancer cells with alpha-emitting isotopes [25][26]. - The company is focused on three main clinical programs: VMT-α-NET for neuroendocrine tumors, VMT01 for melanoma, and PSV359 for solid tumors, all currently in Phase 1/2a trials [26].

Group 1 - The company's valuation had decreased due to a market perception of underwhelming data readout from previous clinical trials [1] - The author has a PhD in biochemistry and extensive experience in analyzing clinical trials and biotech companies, emphasizing the importance of understanding the science behind investments [1] Group 2 - No stock or derivative positions are held by the author in the companies mentioned, indicating an unbiased perspective [2] - The article expresses the author's personal opinions and is not influenced by any business relationships with the companies discussed [2]

Core Insights - Perspective Therapeutics, Inc. announced that updated data on its [Pb]VMT-α-NET program will be presented at the ESMO Congress 2025 in Berlin, Germany from October 17 to 21, 2025 [1] - The presentation will include mature safety and preliminary efficacy data for advanced somatostatin receptor 2 positive neuroendocrine tumors [2] Company Overview - Perspective Therapeutics is a radiopharmaceutical company focused on developing advanced cancer treatments using alpha-emitting isotopes to target cancer cells [4] - The company is also developing imaging diagnostics that complement its therapeutic approaches, enhancing treatment personalization and patient outcomes through a "theranostic" strategy [4] Clinical Programs - The [Pb]VMT-α-NET program is currently in a multi-center, open-label, dose-escalation study for patients with unresectable or metastatic SSTR2-positive neuroendocrine tumors [3] - The study has reported interim updates, with a data cut-off date of April 30, 2025, and additional patients enrolled after reopening Cohort 2 in August 2024 [3] Future Developments - The company is expanding its regional network of drug product candidate finishing facilities, supported by its proprietary Pb generator, to facilitate clinical trials and commercial operations [5]

Company Overview - Perspective Therapeutics, Inc. is a radiopharmaceutical company focused on advanced cancer treatments using proprietary technology that employs the alpha-emitting isotope Pb to target cancer cells specifically [2][3] - The company is also developing complementary imaging diagnostics that utilize the same targeting moieties, allowing for personalized treatment and optimized patient outcomes through a "theranostic" approach [2] Clinical Development - The company's melanoma (VMT01), neuroendocrine tumor (VMT-α-NET), and solid tumor (PSV359) programs are currently in Phase 1/2a imaging and therapy trials in the U.S. [3] - Perspective Therapeutics is expanding its regional network of drug product finishing facilities, supported by its proprietary Pb generator, to provide patient-ready products for clinical trials and commercial operations [3] Upcoming Financial Reporting - The company will report its second quarter 2025 financial results and provide a business update on August 13, 2025, before the market opens [1]

Core Viewpoint - Perspective Therapeutics, Inc. is advancing its radiopharmaceutical treatments for cancer, with significant presentations at the SNMMI 2025 Annual Meeting highlighting its clinical trials and novel imaging agents [1][2][3][4]. Group 1: Clinical Trials and Presentations - The company is presenting findings on [Pb]VMT-α-NET, an imaging agent in a Phase 1/2a clinical trial for patients with unresectable or metastatic SSTR2-positive neuroendocrine tumors, indicating it was well-tolerated among patients [3][5]. - A second presentation focuses on [Ga]PSV377, a novel PET imaging agent targeting fibroblast activation protein, which showed strong affinity and tumor retention in preclinical models, with promising first-in-human imaging results [4][8]. - Both presentations are scheduled for the SNMMI 2025 Annual Meeting, with poster sessions on June 21 and oral sessions on June 23 [2]. Group 2: Product Development and Technology - Perspective Therapeutics is utilizing a proprietary technology that employs the alpha-emitting isotope Pb to deliver targeted radiation to cancer cells, enhancing treatment efficacy while minimizing toxicity [9][10]. - The company is conducting multi-center, open-label studies for its products, including [Pb]VMT-α-NET and PSV359, aimed at improving patient outcomes through personalized treatment approaches [5][8][10]. - The company is expanding its regional network of drug product candidate finishing facilities to support clinical trials and commercial operations [10].

Core Viewpoint - Perspective Therapeutics, Inc. has reached an agreement with the FDA to open the third dosing cohort of its Phase 1/2a clinical trial for [Pb]VMT-α-NET, targeting patients with unresectable or metastatic SSTR2-positive neuroendocrine tumors who have not previously received radiopharmaceutical therapies [1][2] Group 1: Clinical Trial Details - Cohort 3 will administer up to four fixed doses of [Pb]VMT-α-NET at 6 mCi every eight weeks for patients over 60 kg, or 100 μCi/kg for those 60 kg or under [2] - The trial will assess dose limiting toxicities (DLTs) in up to eight patients within 42 days of the first treatment cycle to determine maximum tolerated dose (MTD) or maximum feasible dose (MFD) [2] - Recruitment for Cohort 3 is now open, and patients currently evaluated for entry will enroll if they qualify [3] Group 2: Product and Technology Overview - [Pb]VMT-α-NET is designed to target and deliver lead (Pb) to tumor sites expressing SSTR2, with a multi-center, open-label, dose-escalation study ongoing [4] - The company employs a "theranostic" approach, utilizing alpha-emitting isotopes to deliver radiation specifically to cancer cells while also developing complementary imaging diagnostics [5] - The ongoing programs for melanoma (VMT01), neuroendocrine tumor (VMT-α-NET), and solid tumor (PSV359) are in Phase 1/2a trials in the U.S. [6] Group 3: Future Plans and Updates - The company plans to submit further clinical updates to scientific congresses in the second half of 2025, including safety follow-up data and anti-tumor activity results [6] - A dosimetry sub-study analysis is scheduled to be presented at the Society of Nuclear Medicine & Molecular Imaging (SNMMI) 2025 Annual Meeting [6]

Core Viewpoint - Perspective Therapeutics, Inc. announced updated interim results from its ongoing Phase 1/2a clinical trial of [Pb]VMT-α-NET, presented at the 2025 ASCO Annual Meeting, indicating a favorable safety profile and promising anti-tumor activity in patients with neuroendocrine tumors [1][5][11]. Clinical Trial Overview - The Phase 1/2a clinical trial is a multi-center, open-label study focusing on patients with unresectable or metastatic somatostatin receptor type 2 (SSTR2) expressing neuroendocrine tumors who have not received prior radiopharmaceutical therapy [2][12]. - Cohort 2 was reopened for enrollment in August 2024, with a total of 33 additional patients enrolled by April 30, 2025 [4][12]. Efficacy and Safety Data - Updated interim efficacy data were presented for two patients in Cohort 1 and seven patients in Cohort 2, with a data cut-off date of April 30, 2025 [3][5]. - Among 42 patients who received at least one treatment, there were no dose-limiting toxicities (DLTs) or treatment discontinuations due to adverse events reported [4][5]. - Ten patients experienced at least one Grade 3 treatment emergent adverse event (TEAE), with the majority deemed unrelated to [Pb]VMT-α-NET [4][5]. Anti-Tumor Activity - Four of seven patients in Cohort 2 experienced investigator-assessed objective responses, with three confirmed responses [5][11]. - Seven out of nine patients in Cohorts 1 and 2 remained free from disease progression after more than one year of follow-up [5][11]. Future Plans and Regulatory Engagement - The company plans to submit longer safety follow-up data and preliminary efficacy data for a subgroup for presentation at a scientific congress in the second half of 2025 [11][12]. - The company is engaging with the FDA to continue pursuing dose finding for [Pb]VMT-α-NET [10][11]. Company Background - Perspective Therapeutics, Inc. specializes in developing advanced radiopharmaceutical treatments for cancers, utilizing proprietary technology to deliver targeted radiation to cancer cells [14][15]. - The company is also developing complementary imaging diagnostics to personalize treatment and optimize patient outcomes [14].