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Pipeline (4 active programs)

Technology platforms

Capital (as filed)

Cash

$48.5M cash and cash equivalents · Jun 30, 2026 (10-Q)

Short-term investments

$188M Jun 30, 2026

Operating cash flow

−$20.6M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$237M cash per the update of Oct 23, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (20)

• 2026-11-07 UPDATE: Perspective Therapeutics (CATX) - Narrowing the Net
• 2026-10-24 UPDATE: Perspective Therapeutics (CATX) - The ESMO Haircut 🔒 Paid
• 2026-10-09 UPDATE: Perspective Therapeutics (CATX) - The FAP Program Finds a Side Door 🔒 Paid
• 2026-09-24 UPDATE: Perspective Therapeutics (CATX) - The Trickle Became a Faucet 🔒 Paid
• 2026-09-15 UPDATE: Perspective Therapeutics (CATX) - Merck Walks In the Door Lantheus Walked Out Of 🔒 Paid
• 2026-09-04 UPDATE: Perspective Therapeutics (CATX) - Lantheus Opens the Exit Door 🔒 Paid
• 2026-08-11 UPDATE: Perspective Therapeutics (CATX) - The Phase 3 Finally Has a Dose and a Date 🔒 Paid
• 2026-07-28 UPDATE: Perspective Therapeutics (CATX) - Europe Puts a Ten-Year Fence Around the Alpha 🔒 Paid
• 2026-07-08 UPDATE: Perspective Therapeutics (CATX) - The Chemist Hands Off to the Oncology Operator 🔒 Paid
• 2026-05-22 UPDATE: Perspective Therapeutics (CATX) - The ASCO Preview Quietly Resurrects VMT01 🔒 Paid
• 2026-05-12 UPDATE: Perspective Therapeutics (CATX) - Q1 Drops Three Quiet Tells 🔒 Paid
• 2026-04-27 UPDATE: Perspective Therapeutics (CATX) - CATX Drops AACR Data 🔒 Paid
• 2026-04-05 UPDATE: Perspective Therapeutics (CATX) Dropped a Stealth De-Risking Clue Ahead of AACR 🔒 Paid
• 2026-03-21 UPDATE: Perspective Therapeutics (CATX) - The Next Catalyst is Here 🔒 Paid
• 2026-03-15 UPDATE: The CATX Institutional Land Grab Continues 🔒 Paid
• 2026-02-14 UPDATE: Perspective Therapeutics (CATX) - The Smart Money Stampede Continues 🔒 Paid
• 2026-02-07 UPDATE: Perspective Therapeutics (CATX) Just Cleared the Deck (And Smart Money Bought the Dip) 🔒 Paid
• 2026-01-13 UPDATE: Why Did Perspective Therapeutics (CATX) Just Dropped 15% (And Why It Could Be Buying Opportunity)? 🔒 Paid
• 2026-01-10 UPDATE: Perspective Therapeutics (CATX) Drops an Alpha Hammer at ASCO-GI 🔒 Paid
• 2026-01-04 Perspective Therapeutics (CATX): Scientific Deep Dive for VMT-α-NET and Pipeline Products 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (20 calls)

Every verdict Biotech Distilled has published on Perspective Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-01-04 Speculative buy speculative Perspective Therapeutics (CATX): Scientific Deep Dive for VMT-α-NET and Pipeline Products Insider buying, validated Lead-212 biology, and a differentiated kidney-sparing chelator make CATX a compelling speculative entry ahead of 2026 data readouts.
2. 2026-01-10 Buy core UPDATE: Perspective Therapeutics (CATX) Drops an Alpha Hammer at ASCO-GI 85.7% ORR and zero Grade 3/4 renal toxicity at ASCO-GI validate the Alpha thesis and remove the 'Speculative' qualifier.
3. 2026-01-13 Buy core UPDATE: Why Did Perspective Therapeutics (CATX) Just Dropped 15% (And Why It Could Be Buying Opportunity)? The 15% drop on VMT01 monotherapy pause is an overreaction; the core VMT-α-NET Alpha thesis is untouched and the dip is a buying opportunity.
4. 2026-02-07 Buy core UPDATE: Perspective Therapeutics (CATX) Just Cleared the Deck (And Smart Money Bought the Dip) The $175M raise backed by specialist biotech funds eliminates the dilution overhang and extends runway into 2028, removing the last major bear argument.
5. 2026-02-14 Hold UPDATE: Perspective Therapeutics (CATX) - The Smart Money Stampede Continues Massive institutional accumulation by specialist biotech funds further validates the thesis; existing holders should avoid selling into institutional demand.
6. 2026-03-15 Buy core UPDATE: The CATX Institutional Land Grab Continues Avidity Partners' 6M-share stake adds to the institutional land grab, shrinking the float and setting up an explosive move on upcoming clinical catalysts.
7. 2026-03-21 Buy core UPDATE: Perspective Therapeutics (CATX) - The Next Catalyst is Here AACR Cohort 3 high-dose data is weeks away; institutional float lock-up and clean balance sheet make the setup compelling ahead of the main event.
8. 2026-04-05 Buy core UPDATE: Perspective Therapeutics (CATX) Dropped a Stealth De-Risking Clue Ahead of AACR DLT assessment cleared in 8 Cohort 3 patients quietly de-risks the high-dose safety question ahead of AACR, with runway formally confirmed into late 2027.
9. 2026-04-27 Buy core UPDATE: Perspective Therapeutics (CATX) - CATX Drops AACR Data ORR regressed to 43% from the small-sample 85.7% but remains competitive with Lutathera, and the chelator protected kidneys at the highest 6.0 mCi dose across n=64.
10. 2026-05-12 Buy core UPDATE: Perspective Therapeutics (CATX) - Q1 Drops Three Quiet Tells Cohort 4's front-loaded dosing, a fourth clinical asset (PSV594), and management telegraphing a pre-pivotal FDA meeting setup compound the thesis despite post-AACR drift.
11. 2026-05-22 Buy core UPDATE: Perspective Therapeutics (CATX) - The ASCO Preview Quietly Resurrects VMT01 VMT01 monotherapy printed a second confirmed responder, PSV359 climbed to 6.0 mCi, and deepening NETs responses ahead of ASCO posters further compound the platform thesis.
12. 2026-07-08 Buy core UPDATE: Perspective Therapeutics (CATX) - The Chemist Hands Off to the Oncology Operator Founder-chemist's planned transition to Senior Advisor and appointment of a Merck KGaA oncology-development veteran as CSO signals a phase change from platform invention to registration execution.
13. 2026-07-28 Buy core UPDATE: Perspective Therapeutics (CATX) - Europe Puts a Ten-Year Fence Around the Alpha EU orphan designation with up to 10 years of market exclusivity stacks on top of the patent moat and represents a third-party regulatory validation of significant benefit over Lutathera.
14. 2026-08-11 Buy core UPDATE: Perspective Therapeutics (CATX) - The Phase 3 Finally Has a Dose and a Date Q2 converts 'meaningful regulatory engagement' into a named pivotal dose (cumulative 20 mCi), cadence, and year-end 2026 site-activation target, closing the gap to registration.
15. 2026-09-04 Buy core UPDATE: Perspective Therapeutics (CATX) - Lantheus Opens the Exit Door Lantheus filing an exit menu for its full 10% stake creates a supply overhang and weakens the M&A leg of the thesis, arguing for patience on entries rather than chasing strength.
16. 2026-09-15 Buy core UPDATE: Perspective Therapeutics (CATX) - Merck Walks In the Door Lantheus Walked Out Of Merck's Keytruda supply deal for the wholly-owned PSV359 FAP-α program adds platform validation but does not restore the M&A leg dented by Lantheus; Lantheus overhang still intact.
17. 2026-09-24 Hold UPDATE: Perspective Therapeutics (CATX) - The Trickle Became a Faucet Lantheus accelerating sales to 2.7M shares in 13 days including a 1.4M-share single session changes the overhang's character, arguing for patience until either the selling ends or ESMO data arrives.
18. 2026-10-09 Hold UPDATE: Perspective Therapeutics (CATX) - The FAP Program Finds a Side Door FDA Fast Track for PSV359 in FAP-positive solitary fibrous tumors adds a rare-disease regulatory route but does not resolve the Lantheus overhang; holding through ESMO remains the call.
19. 2026-10-24 Watch UPDATE: Perspective Therapeutics (CATX) - The ESMO Haircut ESMO showed Cohort 2 ORR settling at 33%, two Grade 3 renal events breaking the clean kidney streak, and Phase 3 slipping to 2027, weakening the efficacy case enough to downgrade to Watch List.
20. 2026-11-07 Watch UPDATE: Perspective Therapeutics (CATX) - Narrowing the Net NANETS adds no new data beyond a post-hoc SSTR2-enriched subgroup and a 1Q 2027 EOP2 date; financing risk at sub-$1 share price is rising but durability data holds, keeping the stance at Watch List.

• Long call · opened Jan 5, 2026 at $2.73 · closed Oct 26, 2026 (downgraded to WATCH from long) at $1.21 · -55.7% vs XBI +25.2%

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

• 2026-08-10 8-K in filings ↓

  • “Manufacturing : We expect the Chicago metro site to complete construction in early 2027, followed by the Los Angeles metro site in 2H 2027, expanding the network to four regional sites by the end of 2027.”

    matched to PSV594 · First-in-human imaging data presented · read as 2H 2027

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (42)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 11, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Nov 6, 2026ReleasePerspective Therapeutics Presents Promising [212Pb]Lapemelanotide Zapixetar (VMT01) Monotherapy Data from a Phase 1/2a Study in Heavily Pretreated Advanced Melanoma Patients at SITC 2026→ BD updateSummary on the 8-K
• Nov 6, 20268-KCurrent report: other events · EX-99.1→ BD updateNANETS data reveals a sharper enrichment strategy for bamzireotide's Phase 3: SSTR2+ GEP-NET patients show 37–47% ORR and 75% PFS at 18 months, well above Lutathera's labeled benchmarks, with an End-of-Phase 2 FDA meeting now targeted for Q1 2027 — a meaningful step forward on the registration path I've been tracking all year.
• Nov 6, 20268-KCurrent report: other events · EX-99.1→ BD updateSummary on the 8-K
• Nov 5, 2026ReleasePerspective Therapeutics Presents Encouraging Incremental Data and Analyses from Phase 1/2a Trial of [212Pb]Bamzireotide Navoxetan (VMT-α-NET) in Advanced SSTR2 Expressing NETs
• Oct 23, 2026ReleasePerspective’s [212Pb]Bamzireotide Navoxetan (VMT-α-NET) Demonstrates Encouraging Safety, Durable Disease Control, and Robust Tumor Response Across Multiple Dose Cohorts in Phase 1/2a Trial in Advanced→ BD updateSummary on the 8-K
• Oct 23, 20268-KCurrent report: other events · EX-99.1→ BD updateThe ESMO oral delivered a dose-response signal — 50% ORR at 6.0 mCi vs. 33% at 5.0 mCi — and 72% PFS at 18 months, but two new Grade 3 renal events (2.9%) broke the "zero serious renal complications" streak and appear to have driven a -28.8% session drop.BD extracted 1 program update from this document → CATX pipeline
• Oct 8, 2026ReleasePerspective Therapeutics Granted Fast Track Designation for [212Pb]PSV359 for the Treatment of Adult Patients with Locally Advanced Unresectable and/or Metastatic FAP-Positive Solitary Fibrous Tumors→ BD updateSummary on the 8-K
• Oct 8, 20268-KCurrent report: other events · EX-99.1→ BD updateThe FDA granted Fast Track Designation for PSV359 — the wholly-owned FAP-α program — specifically in FAP-positive solitary fibrous tumors, a rare cancer with no approved targeted therapies. The stock gained +10.2% on the day, and with the ESMO oral on VMT-α-NET just 15 days away, this adds another regulatory receipt to a pipeline that keeps compounding.
• Oct 7, 2026ReleasePerspective Therapeutics Announces Acceptance of [212Pb]VMT-α-NET Data for Presentation at the NANETS 2026 Multidisciplinary NET Medical SymposiumBD extracted 1 program update from this document → CATX pipeline
• Oct 2, 2026ReleasePerspective Therapeutics Announces Acceptance of [212Pb]VMT01 Data for Presentation at SITC 2026BD extracted 1 program update from this document → CATX pipeline
• Oct 1, 20268-KCurrent report: other events · EX-99.1BD extracted 2 program updates from this document → CATX pipeline
• Sep 23, 2026SCHEDULE 13D/A13D amendment→ BD updateLantheus's trickle has turned into a flood: Amendment No. 3 reveals three block-scale sales totaling ~2.7M shares since September 4, cutting the stake from 10.0% to 7.7% in under three weeks — the "tell" I said to watch for just landed.
• Sep 14, 2026ReleasePerspective Therapeutics Announces Clinical Collaboration and Supply Agreement with Merck to Evaluate [212Pb]PSV359 in Combination with Keytruda® (Pembrolizumab) in FAP-α Positive Solid Tumors→ BD updateSummary on the 8-K
• Sep 14, 20268-KCurrent report: other events · EX-99.1→ BD updateMerck just handed CATX a no-cost supply of Keytruda to combine with PSV359 in FAP-α-positive NSCLC and colorectal cancer — a third-party scientific endorsement of the pan-cancer alpha thesis and a meaningful offset to the Lantheus overhang that cracked the M&A leg of the story ten days ago.
• Sep 11, 2026ReleasePerspective Therapeutics Announces Acceptance of VMT-α-NET Data for Presentation at the 38th EORTC-NCI-AACR Symposium 2026BD extracted 1 program update from this document → CATX pipeline
• Sep 8, 20268-KCurrent report: other events · EX-99.1BD extracted 2 program updates from this document → CATX pipeline
• Sep 4, 2026SCHEDULE 13D/A13D amendment→ BD updateLantheus Holdings quietly sold ~237K CATX shares over four days (Aug 31–Sep 3) at ~$3.10/share and has now formally authorized itself to sell more — a notable shift from a 10% strategic radiopharma holder that changes the float narrative I've been writing about all year.
• Aug 10, 2026ReleasePerspective Therapeutics Provides Recent Business Highlights and Reports 2Q 2026 ResultsBD extracted 2 program updates from this document → CATX pipeline
• Aug 10, 20268-KCurrent report: results of operations, other events · EX-99.1
• Aug 10, 202610-QQuarterly report
• Aug 3, 20268-KCurrent report: other events · EX-99.1
• Jul 31, 2026ReleasePerspective Therapeutics to Provide Business Highlights and Report Second Quarter 2026 Financial Results
• Jul 28, 2026ReleasePerspective Therapeutics Receives European Orphan Medicinal Product Designation for [212Pb]VMT-α-NET in GEP-NETs
• Jul 17, 2026ReleasePerspective Therapeutics Announces Acceptance of VMT-α-NET Data for Oral Presentation at the ESMO Congress 2026
• Jul 8, 2026ReleasePerspective Therapeutics Appoints Paul Lyne, Ph.D., as Chief Science Officer; Co-Founder Michael K. Schultz, Ph.D., Transitions to Senior Scientific Advisor
• Jul 1, 20268-KCurrent report: other events · EX-99.1
• Jun 3, 2026ReleasePerspective Therapeutics Expands Therapeutic Focus Areas; First Patient Dosed with [212Pb]VMT-α-NET in the Meningioma Cohort of a Phase 1/2a StudyBD extracted 1 program update from this document → CATX pipeline
• Jun 1, 20268-KCurrent report: other events · EX-99.1
• May 27, 20268-KCurrent report: shareholder vote
• May 22, 20268-KCurrent report: other events · EX-99.1
• May 21, 2026ReleasePerspective Therapeutics to Present Data from All Clinical Programs at the 2026 ASCO Annual Meeting, including Findings from [212Pb]VMT01 in Melanoma
• May 18, 2026ReleasePerspective Therapeutics Announces First Patients Dosed in New Cohorts of Two Ongoing Phase 1/2a Studies
• May 11, 2026ReleasePerspective Therapeutics Provides Recent Business Highlights and Reports 1Q 2026 Results
• May 11, 20268-KCurrent report: results of operations, other events · EX-99.1
• May 11, 202610-QQuarterly report
• May 4, 20268-KCurrent report: results of operations, other events · EX-99.1
• Apr 20, 20268-KCurrent report: other events · EX-99.1
• Apr 16, 2026DEFA14AProxy soliciting material
• Apr 16, 2026DEF 14AProxy statement
• Apr 1, 20268-KCurrent report: other events · EX-99.1
• Mar 16, 20268-KCurrent report: results of operations, other events · EX-99.1
• Mar 16, 202610-KAnnual report