Perspective Therapeutics, Inc. ("Perspective" or the "Company") (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatments for cancers throughout the body, announced today that the first patient was dosed in a new cohort of a Phase 1/2a trial evaluating the safety of [²¹²Pb]VMT01, a targeted alpha-particle therapy (TAT), in patients with previously treated, histologically confirmed metastatic melanoma and positive melanocortin 1 receptor (MC1R) imaging scans.

Patients in this cohort are receiving [²¹²Pb]VMT01 at 3.0 mCi in combination with nivolumab, a PD-1 blocking antibody developed and marketed by Bristol Myers Squibb as Opdivo®. Additionally, the [²¹²Pb]VMT01 3.0 mCi monotherapy cohort reopened for enrollment. The Safety Monitoring Committee (SMC) recommended evaluating [²¹²Pb]VMT01 at a higher dose based on its review of five patients dosed with [²¹²Pb]VMT01 1.5 mCi monotherapy and two patients dosed with [²¹²Pb]VMT01 at 1.5 mCi together with nivolumab.

"With the initiation of this second combination cohort, we are building on encouraging early safety and anti-tumor activity observed for [²¹²Pb]VMT01," commented Markus Puhlmann, Chief Medical Officer of Perspective. "Advancing to a higher dose level with [²¹²Pb]VMT01 alongside nivolumab represents an important step in evaluating the promising potential of this targeted alpha therapy in combination with immune checkpoint inhibition for patients with advanced melanoma."

"The progress of our [²¹²Pb]VMT01 program continues to reinforce our belief in its potential to transform treatment for patients with difficult-to-treat cancers," said Thijs Spoor, Chief Executive Officer of Perspective. "By moving into this next cohort, we are expanding our understanding of the therapeutic window of [²¹²Pb]VMT01 and how best to optimize efficacy and safety in a combination regimen with a PD-1 inhibitor, including contribution of effect by each component of the regimen. Through this program, we are also learning about the potential for synergy between our proprietary ²¹²Pb emitting constructs and PD-1 inhibition. Each step forward brings us closer to providing a novel treatment option for patients with limited alternatives.

About [²¹²Pb]VMT01
Perspective designed [²¹²Pb]VMT01 to target and deliver ²¹²Pb to tumor sites expressing MC1R, a protein that can be overexpressed in metastatic melanoma tumors.¹ The Company is conducting a multi-center, open-label dose escalation, dose expansion study (clinicaltrials.gov identifier NCT05655312) in patients with histologically confirmed melanoma and MC1R-positive imaging scans. In September 2024, the Company announced that the U.S. Food and Drug Administration (FDA) granted Fast Track Designation for the development of [²¹²Pb]VMT01 for the diagnosis and treatment of patients with unresectable or metastatic melanoma and who have demonstrated MC1R tumor expression. The FDA's Fast Track Designation is one of several approaches utilized by the FDA to expedite development and review of potential medicines for serious conditions and that fulfill unmet medical needs.²

About Melanoma
Melanoma is a cancer of the skin arising from uncontrollable growth of melanocytes, the melanin producing cells of the body. Metastatic melanoma is the result of melanoma that has progressed through the layers of skin, infiltrated the blood stream or lymphatic system, and traveled to other areas of the body to metastasize. In the United States, there are approximately 100,000 new diagnoses of melanoma annually and approximately 8,300 deaths annually from metastatic melanoma.³ Metastatic melanoma has a poor prognosis with limited survival of 50% at one year and 29%-35% at five years. Recent advances have led to survival improvement, but there remains a high unmet need for additional treatments, particularly for patients with metastatic disease who are refractory to front-line therapy. Median progression free survival (mPFS) for current 2L+ therapies, including lifileucel, remains limited between 2-5 months.^4,5,6

About Perspective Therapeutics, Inc.
Perspective Therapeutics, Inc. is a radiopharmaceutical development company pioneering advanced treatments for cancers throughout the body. The Company has proprietary technology that utilizes the alpha-emitting isotope ²¹²Pb to deliver powerful radiation specifically to cancer cells via specialized targeting moieties. The Company is also developing complementary imaging diagnostics that incorporate the same targeting moieties, which provides the opportunity to personalize treatment and optimize patient outcomes. This "theranostic" approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity.

The Company's neuroendocrine tumor (VMT-α-NET), melanoma (VMT01), and solid tumor (PSV359) programs are in Phase 1/2a imaging and therapy trials in the U.S. The Company is growing its regional network of drug product candidate finishing facilities, enabled by its proprietary ²¹²Pb generator, to deliver patient-ready product candidates for clinical trials and commercial operations.

For more information, please visit the Company's website at www.perspectivetherapeutics.com.