CATX

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Perspective Therapeutics Provides Recent Business Highlights and Reports 2Q 2026 Results

• Advancing VMT-α-NET toward a Phase 3 study in neuroendocrine tumors, subject to regulatory alignment: regulatory engagement ongoing; clinical site activation targeted around year-end 2026 subject to regulatory feedback; sufficient isotope access and manufacturing capacity

• VMT-α-NET study update accepted for oral presentation at ESMO 2026

• VMT01 melanoma and PSV359 FAP-α clinical programs continue to advance

• Approximately $237 million in cash, cash equivalents, and short-term investments as of June 30, 2026; expected to be sufficient to fund current planned clinical milestones and operational investments into late 2027

SEATTLE – August 10, 2026 – Perspective Therapeutics, Inc. (“Perspective,” the “Company,” “we,” “us,” and “our”) (NYSE AMERICAN: CATX), a radiopharmaceutical development company pioneering advanced treatments for cancers throughout the body, today provided a business update and announced results for the quarter ended June 30, 2026.

“The team at Perspective is highly energized as we continue to build on the significant clinical progress we're making across our pipeline, prepare for our first Phase 3 study, and advance our flagship Chicago manufacturing facility toward completion,” said Thijs Spoor, Perspective's CEO. “As precision oncology continues to evolve, long-term leadership will require differentiated science, integrated manufacturing, and the ability to reliably deliver these therapies at commercial scale. We are continuing to bring the platform that delivers.”

Recent Program Updates

We advanced our four-program 212Pb pipeline, expanded our manufacturing network and attracted strong leadership.

• Bamzireotide navoxetan (VMT-α-NET) in SSTR2-positive neuroendocrine tumors (NETs) and meningioma: 76 NETs patients across four cohorts and one meningioma patient treated as of July 31. ASCO 2026 interim data were consistent with prior findings and showed continued deepening of response. Updated data on NETs patients will be presented at ESMO on October 23. By late 2026, all 46 Cohort 2 patients will have had the opportunity for at least 60 weeks of follow-up, which is expected to inform the Phase 3 study design.

Preparing for a Phase 3 study evaluating a proposed cumulative 20 mCi (740 MBq) dose administered in up to four treatments every eight weeks. Additional dose cohorts could provide optionality and opportunity to further define VMT-α-NET’s therapeutic window. Phase 3 site activation targeted around year-end 2026, subject to regulatory feedback and protocol finalization.

• Lapemelanotide zapixetar (VMT01) in MC1R-positive melanoma: 27 patients enrolled across multiple dose cohorts either as monotherapy or in combination with the immune checkpoint inhibitor nivolumab as of July 31. We are focused on a cumulative 9 mCi (333 MBq) dose administered in up to three treatments every eight weeks. Seven patients received this treatment regimen as a monotherapy, and six patients received this dose in combination with nivolumab.

Data presented at ASCO 2026 showed two partial responses among seven patients treated with 3.0 mCi monotherapy; safety data from 27 patients showed treatment was generally well tolerated. Six nivolumab combination patients are expected to reach at least 24 weeks of follow-up by late 2026.

• PSV359 in FAP-α-positive solid tumors: 17 patients treated across three dose cohorts as of July 31. Cohort 3 opened and closed during 2Q 2026. The next clinical update is planned in 2027.

• PSV594 in CCK2R-positive solid tumors: Preclinical data and first-in-human biodistribution observations support continued pre-IND development of PSV594.

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. We believe we have sufficient capacity and isotope access to support ongoing studies and the planned VMT-α-NET Phase 3 study.

Corporate update: In July 2026, we announced that Paul Lyne, Ph.D. was appointed as Chief Science Officer.

Second Quarter 2026 Financial Summary

Cash, cash equivalents, and short-term investments as of June 30, 2026, were approximately $237 million as compared to approximately $145 million as of December 31, 2025. We believe our cash, cash equivalents, and short-term investments are sufficient to fund our current planned clinical milestones and operational investments into late 2027.

• Research and development expenses were $21.5 million for the three months ended June 30, 2026, compared to $16.6 million for the three months ended June 30, 2025.

• General and administrative expenses were $7.8 million for the three months ended June 30, 2026, compared to $7.7 million for the three months ended June 30, 2025.

• Net loss for the three months ended June 30, 2026, was $26.8

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Perspective Therapeutics Provides Recent Business Highlights and Reports 1Q 2026 Results

• Differentiated ²¹²Pb radiopharmaceutical platform designed to optimize tumor killing, safety, patient convenience and supply scalability

• Three clinical-stage oncology programs advancing across neuroendocrine tumors, melanoma and FAP-positive solid tumors with multiple clinical catalysts expected in 2026 across VMT-α-NET, VMT01 and PSV359 programs; lead program, VMT-α-NET, advancing toward a registration‑enabling study

• Regional manufacturing network designed to support reliable supply of ready-to-administer radiopharmaceuticals for clinical development and potential commercialization; Chicago site expected to complete construction in 2026

• Cash runway expected into late 2027 to support planned clinical milestones and operational investments; cash, cash equivalents, and short-term investments of approximately $271M as of March 31, 2026

SEATTLE – May 11, 2026 – Perspective Therapeutics, Inc. (“Perspective,” the “Company,” “we,” “us,” and “our”) (NYSE AMERICAN: CATX), a radiopharmaceutical development company pioneering advanced treatments for cancers throughout the body, today provided a business update and announced results for the quarter ended March 31, 2026.

“The first quarter of 2026 was marked by continued execution across our clinical programs and strengthening of our financial position,” said Thijs Spoor, Perspective’s CEO. “Our focus on engineering the alpha advantage across every part of the radiopharmaceutical value chain - from the radioisotope to optimized structural chemistry, theranostic processes, and regional manufacturing - differentiates Perspective, and we look forward to providing clinical and manufacturing updates throughout 2026.”

Clinical Highlights

VMT-α-NET

We are conducting a multi-center, open-label, dose-finding study (clinicaltrials.gov identifier NCT05636618) of [212Pb]VMT-α-NET in patients with unresectable or metastatic somatostatin receptor type 2 (SSTR2)-positive neuroendocrine tumors (NETs) who have not received prior radiopharmaceutical therapies (RPT).

• Updated interim data from the study, as of a data cut-off (DCO) date of March 4, 2026, were presented at the American Association for Cancer Research Annual Meeting 2026 in April 2026.

• As of April 30, 2026, the first 23 patients in Cohort 2 have had the opportunity for at least 60 weeks of follow-up since beginning treatment. By late 2026, all 46 patients in Cohort 2 will have had the opportunity for at least 60 weeks of follow-up since beginning treatment.

• We believe our clinical data package positions us for meaningful regulatory engagement in 2026 to align on the path forward.

• As of April 30, 2026, a total of 20 patients have been treated in Cohort 3. This cohort is now closed to enrollment. By late 2026, the eight patients initially enrolled for dose-limiting toxicity (DLT) assessment will have had the opportunity for at least 48 weeks of follow-up since beginning treatment.

• Cohort 4 is now open for recruitment.

• During the dose-finding phase of the study, we enrolled primarily NET patients whose disease originated in the pancreas or the digestive tract. We have an allowance for enrollment of NET patients whose disease originated in the lung (of which small cell lung cancer is a subset), pheochromocytoma/paraganglioma NETs, and SSTR2+ meningioma.

• We opened a proof-of-concept cohort of meningioma patients. To date, there is no approved systematic therapy for this disease. The unmet medical need may support an expedited development path.

VMT01

VMT01 is an MC1R-targeted RPT that can be radiolabeled with either 203Pb for patient selection and dosimetry assessment or 212Pb for alpha-particle therapy. We are conducting a multi-center, open-label, dose-finding study (clinicaltrials.gov identifier NCT05655312) in heavily pre-treated patients with histologically confirmed melanoma and MC1R-positive imaging scans.

• Since dosing re-opened for 3.0 mCi of VMT01 as monotherapy, and was initiated for 3.0 mCi of VMT01 in combination with nivolumab in September 2025, 10 patients had received VMT01 3.0 mCi treatment as of February 28, 2026; six patients had received VMT01 at 3.0 mCi in combination with nivolumab, and four patients had received 3.0 mCi of VMT01 as monotherapy, in addition to the three patients who received this monotherapy dose in late 2023. Both cohorts are now closed for enrollment.

• By late 2026, the 10 patients who had received VMT01 3.0 mCi treatment since the initiation or re-opening of these cohorts in September 2025 will have had the opportunity for at least 24 weeks of follow-up after their initial doses, sufficient time to have completed at least one scan after the full course of treatment (up to three doses every eight weeks).

PSV359

We designed PSV359 to target and deliver 212Pb to tumor sites expressing fibroblast activation protein-α (

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Agenda

Engineering the Alpha Advantage in Targeted Oncology

Optimizing the Entire System

Expanding the Addressable Market

Unlocking New Treatment Options Across Solid Tumors:

Choosing The Right Isotope

Optimizing Structural Chemistry:

Not All ²¹²Pb Programs Are Created Equal

Advancing a Theranostic Approach:

A Decade of Deliberate, End-to-End Engineering

Direct-to-Hospital Delivery through Integrated Isotope Production

Daily Production at Regional Sites Ensures Supply of Ready-to-Administer Product

Reaching the Largest Addressable Market with Regional Manufacturing

Advancing a Diverse Wholly Owned 212Pb-Based Oncology Portfolio

Rapidly Advancing Best-in-Class Next Generation Radiopharmaceuticals

Perspective Therapeutics

Theranostics in management of patients with neuroendocrine and other SSTR positive tumors

Objectives

Treatment landscape

Adverse side effects

Other factors that drive treatment

Survival expectations

NCCN guidelines

Treatment decision making

Alpha particle PRRT

The evolution of the treatment continuum

Summary

SSTR2+ Neuroendocrine Tumors is a Large, Growing Market with Significant Unmet Need

Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs

Patient with Confirmed PR After [212Pb]VMT-α-NET Treatment

VMT-⍺-NET: Baseline Patient Characteristics in AACR 2026 Data Analysis

Patient Exposure and Follow-up with [212Pb]VMT-α-NET in AACR 2026 Data Analysis

Blood Creatinine During Follow-up for All Patients Treated (n=64)

VMT-⍺-NET: Durable Disease Control Across All Doses

Spider plot of tumor change over time by patient

VMT-α-NET Responses Deepen Over Time

VMT-α-NET’s Compelling Profile Supports Potential Registration Study at Current Dose Level

Why Frontloading?

Ongoing Phase 1/2a to Establish Broad Therapeutic Window For VMT-⍺-NET in NETs

Meningioma

VMT-⍺-NET: Potential First-in-Class 212Pb-Radioligand Therapy Targeting SSTR2

[212Pb]Pb-VMT--NET after previous radio-ligand treatment

Dresden VMT--NET compassionate use program

Dresden VMT--NET compassionate use program

Dresden VMT--NET compassionate use program

Dresden VMT--NET compassionate use program

First results - compassionate use program

First results - compassionate use program

First results - compassionate use program

First results - compassionate use program

First results - compassionate use program

First results - compassionate use program

Case Study

Case Study

Case Study

Case Study

Imaging and dosimetry

Conclusion

How biodistribution informs therapeutic potential

Disclosures

PSMA vs DOTATATE

PSMA vs DOTATATE

PSMA vs DOTATATE

Patient’s journey from PSA>MRI>PSMA PET

Receptor Targeted PET enabled a fundamentally different clinical trial design: Treat if you see it

68Ga/177Lu-PSMASuper vs Non-Responder

68Ga/177Lu-DOTATATESuper vs Non-Responder

Radioligand Therapy Today“Science advances one funeral at a time” Max Planck

Radioligand Therapy Today“Science advances one funeral at a time” Max Planck

FAP is an Emerging Target

Not every FAP is bio-identical

TheranosticsShort Half-lives for Long, Full Lives

FIH 203/212Pb Pb-VMT-α-NET Perspective Therapeutics

FIH 203/212Pb Pb-VMT-α-NET Perspective Therapeutics

Early, Medium and Late Biodistribution Should Inform Therapeutic Window

Perspective’s CCK2R81 in Medullary Thyroid Cancer Compared to FDG and Fluorodopa

Development of PSV594 for CCK2R+ Tumor types

CCK2R: Implicated in Multiple Tumor Types With Major Unmet Needs

Expanding the Addressable Market

Optimizing the Entire System

A Decade of Deliberate, End-to-End Engineering

Built Over a Decade:

Q&A

Advancing a Theranostic Approach:

212Pb is Our Isotope of Choice

Choosing The Right Isotope

Kinetics Matter: 212Pb Hits Hard and Fast For Strong Activity with Less Systemic Exposure

𝜶-Particles Delivers More Potent, Targeted Tumor Killing vs. β-Particles

212Pb Further Enhanced by Proprietary Chelator for Targeted Delivery of Payload

212Pb Multi-Mechanistic Activity Drives Tumor Destruction and Anti-Tumor Immunity

Rationale for Synergy with Immune Checkpoint Inhibitors

212Pb Uniquely Suited for Combination with Immune Check Point Inhibitors

212Pb Half-life Is More Convenient for Customers

Advancing a Theranostic Approach:

Supply Chain and Manufacturing Infrastructure

End-to-End Manufacturing with Clinical Supply Secured and Commercial Scale Underway

Direct-to-Hospital Delivery through Integrated Isotope Production

Reliable, On-Demand 212Pb from 228Th and 224Ra

Flexible Scalable 224Ra Supply Enables Regional Manufacturing

Ideal for Regional Manufacturing

On-Demand Fulfillment at Regional Sites for Finished Product Delivery

Daily Production at Regional Sites Ensures Supply of Ready-to-administer Product

Reaching the Largest Addressable Market with Regional Manufacturing

Mature, Well-Established Distribution Networks

Network Approach Chosen by Novartis