Perspective Therapeutics Inc.

Perspective Therapeutics has signed a clinical trial collaboration and supply agreement with Merck to evaluate its targeted alpha-particle therapy [212Pb]PSV359 in combination with Keytruda, Merck's anti-PD-1 therapy, in patients with FAP-α-positive solid tumors. The combination will be tested under an amendment to Perspective's ongoing Phase 1/2a study of [212Pb]PSV359 in certain types of non-small cell lung cancer and colorectal cancer that express fibroblast activation protein alpha, under clinicaltrials.gov identifier NCT06710756. Perspective is sponsoring the study and Merck is providing pembrolizumab at no cost, with enrollment already completed in the first three monotherapy dose cohorts. Markus Puhlmann, Perspective's Chief Medical Officer, said FAP-α is associated with the majority of solid tumors and a tumor microenvironment historically characterized by poor drug penetration and immune suppression or exclusion, and that combining targeted radiopharmaceutical treatment with a well-established immune checkpoint inhibitor may reshape the tumor environment and improve outcomes for patients with advanced FAP-α-positive solid tumors.

Perspective Therapeutics has received European orphan medicinal product designation for its radiopharmaceutical candidate [212Pb]VMT-α-NET for the treatment of gastroenteropancreatic neuroendocrine tumors. The designation, granted by the European Commission following a positive opinion from the Committee for Orphan Medicinal Products of the European Medicines Agency, provides development and commercial incentives including protocol assistance, fee reductions, and up to 10 years of market exclusivity if approved. [212Pb]VMT-α-NET is currently being evaluated in an ongoing Phase 1/2a study in patients with SSTR2-positive neuroendocrine tumors, and interim clinical data presented at the 2026 ASCO Annual Meeting support its potential to provide significant benefit relative to approved therapies. The company believes the designation reflects the need for additional therapeutic options for European patients living with GEP-NETs and advances its broader goal of developing next-generation targeted radiopharmaceuticals.

Perspective Therapeutics announced that updated data from its VMT-α-NET program have been accepted for a rapid oral presentation at the European Society of Medical Oncology Congress 2026 in Madrid. The presentation, led by Thorvardur Halfdanarson of Mayo Clinic Comprehensive Cancer Center, will cover cohort-level safety and efficacy results for the first three cohorts of the study in advanced SSTR2-positive neuroendocrine tumors. The session is scheduled for October 23, 2026, with the presentation taking place from 4:25 to 4:30 p.m. CEST. The company previously presented interim data at the 2026 ASCO Annual Meeting and plans to submit additional data for future conferences.

Perspective Therapeutics has appointed Paul Lyne, Ph.D., as its new Chief Science Officer, while co-founder and long-time CSO Michael K. Schultz, Ph.D., transitions to Senior Scientific Advisor & Co-Founder as part of a planned move toward retirement. Dr. Lyne brings more than 25 years of pharmaceutical and biotechnology experience, most recently serving as Senior Vice President and Head of Oncology Research at Merck KGaA, where he led global research in cancer cell signaling, immuno-oncology, and antibody-drug conjugates. He has helped advance over 30 oncology programs into clinical development and contributed to multiple approved cancer medicines. Dr. Schultz co-founded the radiopharmaceutical company and helped build its scientific platform and clinical pipeline, and will continue to provide insight in his advisory role. Perspective is advancing a portfolio of clinical-stage programs including VMT-α-NET for neuroendocrine tumors, VMT01 for melanoma, and PSV359 for solid tumors.

Perspective Therapeutics updated its corporate presentation on July 1, 2026, highlighting progress across its 212Pb-based radiopharmaceutical pipeline and integrated manufacturing strategy. The update emphasized the company's theranostic approach targeting solid tumors with next-generation alpha therapies, along with plans to expand its addressable market through regional daily production and direct-to-hospital delivery. Early data from multiple ongoing Phase 1/2a trials, including VMT-α-NET for SSTR2-positive neuroendocrine tumors, VMT01 for melanoma, and PSV359 for FAP-α-expressing solid tumors, pointed to deepening and durable responses, favorable safety and tolerability, and improved tumor retention. On June 3, 2026, the company dosed the first meningioma patient with [212Pb]VMT-α-NET in its ongoing Phase 1/2a study, expanding testing of VMT-α-NET across SSTR2-expressing tumor types beyond neuroendocrine tumors. Meningiomas represent roughly 40% of primary central nervous system tumors diagnosed annually in the United States and consistently express SSTR2, supporting their role as a target for this class of therapy.