From GlobeNewswire: 2025-03-26 16:10:00

Perspective Therapeutics announced plans for multiple clinical updates by mid-2026. Enrollment is ongoing for VMT-α-NET in a Phase 1/2a trial for neuroendocrine tumors, with 30 patients enrolled by February 2025. IND cleared for PSV359 targeting FAP-α with first patient dosing expected in mid-2025. The company has approximately $227M in cash as of December 2024.

Perspective Therapeutics has made significant progress in advancing clinical-stage potential new medicines based on its radiopharmaceutical technology platform. The company-sponsored Phase 1/2a trial for VMT-α-NET has shown positive results with no dose-limiting toxicities or serious adverse events reported. Investigator-initiated studies are also being conducted to further understand the clinical profile of VMT-α-NET.

The company has collaborated with thought leaders to conduct investigator-initiated studies on VMT-α-NET in the U.S. and overseas. An exploratory first-in-human study in India involved 13 patients with metastatic NETs and medullary thyroid carcinomas. All patients received up to six doses of [212Pb]VMT-α-NET, with promising results presented at scientific conferences. Aiming for clinical updates until mid-2026, with progress on two programs and initiation of dosing for a potential new medicine using targeted radiopharmaceutical technology. Enrollment ongoing for VMT-α-NET in neuroendocrine tumors. IND cleared for PSV359 targeting FAP-α, with first patient dosing expected mid-2025. Cash on hand to fund operations until late 2026.

VMT01 is a MC1R-targeted RPT radiolabeled with 203Pb or 212Pb. Initial results from a dose expansion study in melanoma patients showed no DLTs, mostly Grade 1 and 2 TEAEs, and no renal toxicities reported. Anti-tumor activities observed included objective responses and stable disease. SMC recommended exploring lower dose levels.

PSV359 designed to target FAP-α in solid tumors. FDA approved IND for PSV359, study expected to start mid-2025. Discovery team preparing novel constructs for potential first-in-human imaging. Regional network of drug-product finishing facilities established to support clinical trials and future commercial operations, with expanded capacity at manufacturing facilities.

Second manufacturing facility in New Jersey commenced shipment of 212Pb-labeled radiopharmaceuticals. Purchased buildings in Texas, Illinois, and California for future program candidate manufacture. Entered agreement with Comecer for manufacturing equipment and services for radiopharmaceutical production in the United States, with total consideration of approximately €49.0 million. The company is making progress with multiple clinical updates expected by mid-2026, focusing on two ongoing clinical programs and the initiation of therapeutic dosing of a potential new medicine. Enrollment continues for VMT-α-NET, with 30 patients enrolled in the Phase 1/2a trial for neuroendocrine tumors by the end of February 2025.

First-in-human combination dosing of a PD-1 inhibitor with one of the company’s potential new medicines has been achieved, with dosing of VMT01 in combination with nivolumab. An IND has been cleared for PSV359, targeting FAP-α, with first patient dosing expected in mid-2025.

The company has expanded manufacturing capabilities by scaling up existing facilities and acquiring new sites. Cash, cash equivalents, and short-term investments of approximately $227 million as of December 31, 2024, are expected to fund current clinical milestones and operations into late 2026.

The VMT-α-NET program in NETs was selected by the FDA for the Chemistry, Manufacturing, and Controls (CMC) Development and Readiness Pilot program, aiming to expedite clinical development. The company sources therapeutic isotope 212Pb from 224Ra, procured from the U.S. Department of Energy.

A clinical trial collaboration agreement with Bristol Myers Squibb was entered into to evaluate the safety and tolerability of [212Pb]VMT01 in combination with nivolumab in patients with melanoma. A patent portfolio was strengthened in 2024, and the legacy brachytherapy business was divested in the second quarter.

Financially, the company saw significant growth in cash, cash equivalents, and short-term investments from 2023 to 2024. Research and development expenses increased by approximately 95%, while general and administrative expenses increased by approximately 26%. Grant revenue was approximately $1.5 million for the year ended December 31, 2024.

The company entered into a Controlled Equity Offering Sales Agreement in August 2024, with the first transaction in February 2025 resulting in gross proceeds of approximately $10.2 million. As of December 31, 2024, there were 70.7 million shares of common stock outstanding, along with warrants and options to purchase shares. Viewpoint Molecular Targeting, Inc., now Perspective Therapeutics, plans multiple clinical updates through mid-2026. Enrolled 30 patients in Phase 1/2a trial for VMT-α-NET by February 2025. Achieved first-in-human combination dosing with a PD-1 inhibitor. IND cleared for PSV359, with first patient dosing expected mid-2025. Cash reserves of approximately $227M as of December 31, 2024.

The company, now Perspective Therapeutics, incurred operating expenses of $92.3 million in 2024, including a $24.1 million non-cash goodwill impairment charge. Net loss for 2024 was $79.3 million. The company’s programs for melanoma and neuroendocrine tumors are in Phase 1/2a trials. Developing a network of drug product finishing facilities. Visit the company’s website for more information. A potential new medicine is showing promise in clinical trials for neuroendocrine tumors, with 30 patients enrolled in Phase 1/2a trials by February 2025. The company also achieved first-in-human combination dosing with a PD-1 inhibitor. Another potential medicine targeting FAP-α is set to begin patient dosing in mid-2025.

The company is making progress in expanding manufacturing capabilities to meet growing demands. With approximately $227M in cash and investments as of December 2024, they are well-funded to support clinical milestones and operational investments through late 2026. Multiple clinical updates are expected through mid-2026 based on their innovative radiopharmaceutical technology platform. Perspective Therapeutics is set to provide multiple clinical updates through mid-2026, including advancements in ongoing programs and the initiation of therapeutic dosing for a potential new medicine. Key highlights include first-in-human combination dosing and the clearance of IND for PSV359 targeting FAP-α, with expected patient dosing in mid-2025.

Enrollment continues for VMT-α-NET, a next-generation SSTR2-targeting medicine, with 30 patients enrolled in the Phase 1/2a trial for neuroendocrine tumors. The company is expanding manufacturing capabilities and has approximately $227M in cash, cash equivalents, and short-term investments as of December 31, 2024, to fund operations into late 2026.

The company’s financial statements show total assets of $341,101, with $231,160 in current assets, including cash and short-term investments. Liabilities amount to $50,433, with stockholders’ equity at $290,668. The company reported grant revenue of $1,454 and an operating loss of $90,886 for the year ended December 31, 2024.

The company’s consolidated statements of operations and comprehensive loss reflect an operating loss of $90,886 and a net loss of $79,279 for the year ended December 31, 2024. The loss per share was $1.23, with a weighted-average number of common shares used in computing net loss per share at 64,425. The company also reported an unrealized loss on available-for-sale securities of $51.



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