Perspective Therapeutics Reports Financial Results and Operational Developments for 2025

**Perspective Therapeutics Reports Financial Results and Operational Progress in 10-K Filing**

Perspective Therapeutics, Inc., a radiopharmaceutical company, released its 10-K filing, detailing its financial performance and operational developments for the year ended December 31, 2025. The company reported grant revenue of $884,000, a decrease from $1.45 million in the previous year. Operating expenses totaled $114.45 million, compared to $92.34 million in 2024. Research and development expenses increased significantly to $84.22 million from $41.64 million, driven by increased clinical site activities, drug program costs, delivery costs, and personnel expenses. General and administrative expenses also rose to $30.23 million from $26.61 million, primarily due to increased personnel costs. The company reported an operating loss of $113.56 million, compared to $90.89 million in the prior year.

The company's net loss from continuing operations was $104.43 million, compared to $80.43 million in the previous year. After accounting for a net gain from discontinued operations of $514,000, compared to a net loss of $949,000 in the prior year, and a deferred income tax benefit of $793,000, compared to $2.1 million in the prior year, the net loss for the year was $103.12 million, or $1.40 per share, compared to $79.28 million, or $1.23 per share, in 2024. The company's cash, cash equivalents, and short-term investments totaled $144.7 million as of December 31, 2025, compared to $231.16 million as of December 31, 2024.

Operationally, Perspective Therapeutics continued to advance its clinical programs, including VMT-α-NET, VMT01, and PSV359, all of which are in Phase 1/2a trials. The company dosed additional patients in Cohort 2 of its VMT-α-NET trial, bringing the total to 46 patients, and opened Cohort 3 with a higher fixed dose. Updated interim results from the VMT-α-NET trial were presented at the ASCO Gastrointestinal Cancers Symposium in January 2026. The company also continued its VMT01 trial, exploring lower dose levels and combination therapy with nivolumab. The PSV359 trial treated eight patients across two cohorts.

The company also focused on expanding its manufacturing capabilities, including upgrading an existing production suite in Somerset, NJ, and purchasing buildings in Houston, Chicago, and Los Angeles for future manufacturing. In February 2026, Perspective Therapeutics closed an underwritten offering of securities, generating gross proceeds of approximately $175 million. The company believes its current cash resources, combined with the proceeds from the recent offering, will be sufficient to fund its planned clinical milestones and operational investments into late 2027. As of March 12, 2026, the company employed 166 individuals.