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Investor Call ESMO 2026 Presentation Bamzireotide navoxetan : Phase 1/2a data update (²¹²Pb VMT-α-NET) October 23, 2026 NYSE AMERICAN: CATX
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Legal Disclaimers 2 | This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Statements in this presentation that are not statements of historical fact are forward-looking statements. Words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “estimate,” “believe,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words. Forward-looking statements in this presentation include statements concerning, among other things, the Company’s preclinical and clinical development plans and the expected timing thereof, including the design, initiation, enrollment and timing of a potential registrational Phase 3 trial of [²¹²Pb]VMT-α-NET; [²¹²Pb]VMT-α-NET’s potential best-in-class profile; the expected timing for availability and release of data; the Company’s timing and expectations regarding regulatory communications, meetings, submissions and approvals, including a planned End-of-Phase 2 meeting with the FDA; expectations regarding the potential market opportunities for the Company’s product candidates; the Company’s expected cash runway; the Company’s expectations, beliefs, intentions, and strategies regarding the future; and other statements that are not historical fact. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the Company’s actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation, the potential that regulatory authorities may not agree with the Company’s proposed Phase 3 dose and regimen, patient population, imaging-based selection criteria, control arm or statistical design, or may require additional data before a registrational trial may be initiated; the potential that regulatory authorities may not grant or may delay approval for the Company’s product candidates; uncertainties and delays relating to the design, enrollment, completion and results of clinical trials; unanticipated costs and expenses; early clinical trials may not be indicative of the results in later clinical trials; clinical trial results may not support regulatory approval or further development in a specified indication or at all; actions or advice of regulatory authorities may affect the design, initiation, timing, continuation and/or progress of clinical trials or result in the need for additional clinical trials; delays, interruptions or failures in the manufacture and supply of the Company’s product candidates; the Company’s cash and cash equivalents may not be sufficient to support its operating plan for as long as anticipated; the Company’s ability to obtain additional funding to support its clinical development programs; the availability of alternative treatments; the ability of the Company to build out its manufacturing facilities and satisfy manufacturing-related regulatory requirements; whether the Company can maintain its therapeutic isotope supply; the Company’s ability to maintain and enforce its intellectual property rights; and any changes in applicable laws and regulations. Certain factors that may cause the Company’s actual results to differ materially from those expressed or implied in the forward-looking statements in this presentation are described under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), and in the Company’s future reports to be filed with the SEC and available at www.sec.gov. Phase 1/2a data in this presentation are interim, investigator-assessed and subject to change. Analyses of GEP-NET patients with SSTR2 expression in all target lesions are retrospective and exploratory and may not be predictive of future results. No head-to-head studies have been conducted between [²¹²Pb]VMT-α-NET and other products; cross-trial comparisons should be interpreted with caution. Forward-looking statements contained in this presentation are made as of this date. Unless required to do so by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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INVESTOR CONTEXT | GEP-NET Next Opportunity is for Deeper and More Durable Disease Control 3 | 1The approximately 60% PFS estimate at 20 months reflects a visual reading of the displayed NETTER-1 Kaplan–Meier curve. This rounded approximation is subject to graph-reading error and does not represent a reanalysis of patient-level data. The underlying Kaplan–Meier estimate accounts for censoring and should not be interpreted as a simple percentage of enrolled patients. U.S. Food and Drug Administration. LUTATHERA (lutetium Lu 177 dotatate) injection (prescribing information). 2024. Available from: https://www.accessdata.fda.gov/drugsatfda_docs/label/2024/208700Orig1s032lbl.pdf. Accessed October 20, 2026. 2ORR by investigator per RECIST v1.1. Retrospective subgroup of GEP-NET patients with SSTR2 expression in all target lesions in Study VMT-α-NET-T101 (NCT05636618). VMT-α-NET data in this presentation reflects DCO of 10 Sep 2026 to incorporate 2 additional uPRs reported after the 02 Sep 2026 DCO. 3Among patients who received at least one treatment. 4For class overview and sources, see slide “Radioligand Therapy Trials in SSTR2+ GEP-NETs”. DLT, dose-limiting toxicity; PFS, progression-free survival; TEAE, treatment-emergent adverse event, occurring during the TEAE Window: First [²¹²Pb]VMT-α-NET dose through 56 days after last dose, or until subsequent anti-cancer therapy, whichever is earlier. WHERE PATIENTS ARE TODAY 1L SSA backbone Octreotide / lanreotide PROGRESSION Post-SSA options Lutathera • Everolimus • Sunitinib (pNET) • Cabozantinib • non-approved (e.g. CAPTEM) Treatment selection and sequencing vary by tumor origin, biology and disease pattern NETTER-1: THE REGISTRABLE BENCHMARK PFS was the primary endpoint ~60%1 PFS at 20 mo in U.S. label HR 0.21 vs high-dose octreotide 13% ORR in U.S. label Strong disease control, but objective shrinkage remains uncommon. Population Progressive, well-differentiated SSTR+ midgut NET Safety watch Marrow, renal and long-term MDS/leukemia risk NETTER-1 proved that PRRT can change the natural history of disease VMT- α-NET: BEST IN CLASS PROFILE 4 Strong data in GEP-NET patients 1 37% ORR (C2); 47% ORR (C3) 2 Durable Disease Response3 72% Progression Free Survival at 18 months across cohorts 1, 2, and 3 3 Low grade incidence of adverse events 0 DLTs or Gr 4,5 TEAEs Benign kidney toxicity profile Robust Tumor Response2,3
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NEUROENDOCRINE TUMORS SSTR2+ GEP-NETs: Compelling Data Addressing a Significant Unmet Need 4 | 1Dasari A et al. JAMA Netw Open 2025;8:e2515798. 2Wu P et al. Endocr Connect 2023;12:e230331. 3Maratta MG et al. Cancers 2025;17:1937. 4VMT-α-NET data reflects DCO of 10 Sep 2026 to incorporate 2 additional uPRs reported after the 02 Sep 2026 DCO. Among patients who re ceived at least one treatment. For class overview and sources, see slide “Radioligand Therapy Trials in SSTR2+ GEP-NETs”. ORR=Objective Response Rate; PFS: Progression Free Survival ~250K | ~12K People living with NETs in the U.S.1 And newly diagnosed annual in the U.S.2 90% of GEP-NETs express SSTR23 Room for a Next-Generation Alpha RLT • ²¹²Pb alpha payload: high-energy, short-range radiation with ~80% of dose delivered within 24 hours • Favorable risk / benefit profile displayed with VMT-α-NET in ongoing Phase 1/2 study • Moving towards Phase 3 in 2027 37% - 47% ORR in GEP-NET patients with SSTR2 in all target lesions4 72% Progression Free Survival at 18 months across cohorts 1, 2, and 3 4
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Cohort 4 Frontloading 6/5/5/4 mCi n = 20 ```````` Dose-Finding Study in Radiotherapy Naïve, SSTR2 Positive Patients Ongoing Phase 1/2a to Establish Broad Therapeutic Window for Bamzireotide Navoxetan For additional details regarding trial parameters, including criteria for patient selection, please refer to https://clinicaltrials.gov/study/NCT05636618. Cohort 1 2.5 mCi x 4 n = 2 Cohort 2 5.0 mCi x 4 n = 46 Cohort 3 6.0 mCi x 4 n = 20 Enrolling Tumors assesed by RECIST criteria 5 | STUDY DESIGN
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ESMO 2026 DATA ESMO 2026 Analysis: Compelling Profile Across Doses Best overall response by cohort Disease control = CR/PR/SD. *Two additional uPRs reported between 02 Sep and 10 Sep 2026, for a total of 4 uPRs and an ORR of 50% (30% confirmed) for Cohort 3 Cohort 3 n=20 (%)* Cohort 2 n=46 (%) Cohort 1 n=2 (%) 19 (95.0)41 (89.1)2 (100)Disease control 10 (50.0)15 (32.6)0ORR 6 (30.0)14 (30.4)0Confirmed PR 4 (20.0)1 (2.2)0Unconfirmed PR 9 (45.0)26 (56.5)2 (100)Stable disease 1 (5.0)5 (10.9)0Progressive disease 8/17 (47.1) 14/38 (36.8) 0/2 (0.0)ORR GEP-NET SSTR2+ 6 | Cohort 3 n=20 (%) Cohort 2 n=46 (%)Safety Analysis Set 20 (100)45 (97.8)Subjects with ≥1 TEAE 12 (60.0)32 (69.6)Alopecia 12 (60.0)30 (65.2)Fatigue 18 (90.0)26 (56.5)Nausea 7 (35.0)20 (43.5)Diarrhoea 4 (20.0)11 (23.9)Abdominal pain 2 (10.0)11 (23.9)Lymphocyte count ↓ 3 (15.0)10 (21.7)Hypertension 1 (5.0)8 (17.4)Headache 2 (10.0)8 (17.4)Dizziness 1 (5.0)8 (17.4)Anemia 3 (15.0)8 (17.4)Back pain 4 (20.0)7 (15.2)Constipation 5 (25.0)*14 (30.4)TEAE Grade 3 00TEAE Grade 4 or 5 00Dysphagia All data reflects DCO of 10 Sep 2026 to incorporate 2 additional uPRs reported after the 02 Sep 2026 DCO. TEAE: Treatment Emergent Adverse Event, occurring in the TEAE window: first [²¹²Pb]VMT- α-NET dose through 56 days after last dose, or until subsequent anti-can cer therapy, whichever is earlier. AE, adverse event; ALT, alanine aminotransferase; GGT, gamma-glutamyl transferase; GI, gastrointestinal; HTN, hypertension; TEA E, treatment-emergent adverse event. Safety Overview Partial Response Stable Disease Progressive Disease Ongoing Death
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ESMO 2026 Analysis: Compelling Profile Across Doses Investigator-assessed RECIST v1.1; Cohort 3 is preliminary dose-exploration data and is shown separately in the landmark table. CI, confidence interval; NE, not estimable; PFS, progression-free survival; RECIST v1.1, Response Evaluation Criteria in Solid Tumors version 1.1. Landmark PFS rate, % (95% CI) Cohorts 1–3 (N=68) Cohort 3 (N=20) Cohort 2 (N=46) Cohort 1 (N=2) 85.7 (74.9–92.0)89.1 (62.7–97.2)82.6 (68.2–90.9)1006 months 74.2 (61.1–83.5)76.3 (38.2–92.7)‡71.2 (55.7–82.2)10012 months 71.9 (58.3–81.8)NE68.9 (53.1–80.3)10018 months 52 / 33 / 1512 / 1 / 038 / 30 / 132 / 2 / 2At risk, 6 / 12 / 18 mo 18 (26.5)3 (15.0)15 (32.6)0PFS events, n (%) ‡1 patient at risk at 12 months. NE, not estimable (no patient at risk). Kaplan-Meier estimate of PFS ESMO 2026 DATA 7 |
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ESMO 2026 DATA Higher Responses Observed in Cohort 3 Relative to Cohort 2 at Early Assessments 8 | Investigator-assessed RECIST v1.1. Cohort 3 follow-up is shorter than Cohort 2. ORR and disease control by cohort, ITT (%) 33% 50% 89% 95% Cohort 2 · 5.0 mCi × 4 (n=46) Cohort 3 · 6.0 mCi × 4 (n=20) Objective response rate Disease control rate * *Represents DCO 10 Sep 2026 (includes 2 PRs after the 02 Sep 2026 DCO, i.e., 10/20 vs 8/20). 1 GEP-NET, SSTR2+ in all target lesions. 2Unconfirmed PR, confirmatory scan pending Represents DCO 10 Sep 2026 (includes 2 PRs after the 02 Sep 2026 DCO, i.e., 10/20 vs 8/20). Investigator-assessed RECIST v1.1. Time on study and response are shown descriptively. PD, progressive disease; PR, partial response; RECIST v1.1, Response Evaluation Criteria in Solid Tumors version 1.1; SD, stable disease. Cohort 3: Percent change from baseline in target lesions over time -75 -50 -25 0 25 50 0 2 04 06 08 0 1 0 0 Percent Change from Baseline (%) Study Week Initial Response2 PR GEP-NET SSTR2+1 Other
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ESMO 2026 DATA Safety Profile Remains Favorable 9 | All treated patients in cohort 1 to 3 (n = 68), data cut-off 10 Sep 2026. Maximum grade per patient and term. DLT, dose-limitin g toxicity; SAE, serious adverse event; TEAE, treatment-emergent adverse event. SAEs and TEAs reported, as per protocol, occurring during the TEAE Window: First [²¹²Pb]VMT-α-NET dose through 56 days after last dose, or until subsequent anti-cancer therapy, wh ichever is earlier, unless otherwise noted. Most common TEAEs (≥15%), % of patients 0% 20% 40% 60% 80% Anaemia Back pain Constipation Hypertension Lymphocyte count decreased Abdominal pain Diarrhoea Fatigue Nausea Alopecia Grade 3 Grade 2 Grade 1 Safety analysis set: Cohorts 1–3 (N = 68) No DLTs No TEAEs leading to treatment discontinuation Low incidence of high grade TEAEs, all Grade 3 No dysphagia No treatment-related TE-SAEs No clinically significant myelosuppression
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ESMO 2026 DATA Continued Favorable Renal Profile 10 | As of 10 Sep 2026 DCO Weeks after first treatment 0 1 2 3 4 5 -10 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 Creatinine (mg/dL) Renal Safety Profile 2 patients with Grade 3 AEs (2.9%) Both acute kidney injury 1 unlikely related, 1 possibly related, by investigator assessment 1 resolved, 1 ongoing
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MILESTONES Upcoming Milestones and Financial Position 11 | Cash position and shares, warrants and options outstanding as of 30 June 2026, and runway per the Company’s Q2 2026 Form 10-Q (filed 10 Aug 2026). Milestone timing reflects current expectations. 2027Late 2026Program Dosimetry and Cohort 4 data; EOP2 meeting; Phase 3 initiation NANETS 2026 data; EMA protocol assistance; ≥18 and ≥24-month Cohort 2 follow-up Bamzireotide navoxetan (VMT-α-NET) SSTR2 · NETs Phase 2a data in monotherapy expansion Phase 1/2a dose-escalation data, monotherapy and nivolumab combination Lapemelanotide zapixetan (VMT01) MC1R · melanoma Initial Phase 1/2a dataCohort 3 dosing ongoingPSV359 FAP-α · solid tumors Initiate therapeutic dosingAdditional human imaging IND enabling activities ongoing PSV594 CCK2R · solid tumors ~$237M cash, cash equivalents and short-term investments as of June 30, 2026 Runway into late 2027 ~114.0M shares outstanding ~20.6M warrants and options
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Q & A NYSE AMERICAN: CATX
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Appendix
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APPENDIX Radioligand Therapy Trials in SSTR2+ GEP-NETs 14 | ¹LUTATHERA® USPI; ²Strosberg J et al. NEJM 2017; ³NANETS 2021; ⁴Singh S et al. Lancet 2024; ⁵EMA assessment report; ⁶Lancet 2026 (COMPETE); ⁷ESMO 2025; ⁸ASCO 2024; 9 ESMO 2026. No head-to-head studies have been conducted; given different designs and methods, cross-trial comparisons cannot be made. Safety and efficacy of investigational agents have not been established. 10Among patients who received at least one treatment ²¹²Pb-bamzireotide navoxetan²²⁵Ac-DOTATATE²¹²Pb-DOTAMTATE¹⁷⁷Lu-edotreotide¹⁷⁷Lu-DOTATATE T101 Phase 1/2a9, Cohort 1-310, N=68ACTION-1 Phase Ib⁸ · Single arm · N=17Phase II⁷ · Single arm · N=35COMPETE⁶ · Randomized 2:1 vs everolimus · N=309 NETTER-1¹,² · Randomized 2:1 vs high- dose octreotide · N=229Study NAPhase III portion ongoingNo subsequent study initiatedCRL August 2026Supported registrationStatus 2.5, 5.0, 6.0 mCi x 4 q8w3.2 µCi/kg × 4 q8w67.6 µCi/kg × 4 q8w200 mCi × 4 q3mo200 mCi × 4 q8wDose (administered) 0%100%0%0%0%Prior PRRT G1 22% / G2 65% / G3 13%G1 47% / G2 53% / G3 0G1 23% / G2 66% / Other 11%G1 21–28% / G2 72–79% / G3 0%G1 66% / G2 35% / 0%Histology (G1/G2/G3) 72% at 18 monthsNE (95% CI 12–NE)72.3% at 36 months23.9 vs 14.1 months28.4 vs 8.5 months³Median PFS 33%, 50% (C2, C3, n=66)29.4% confirmed60%21.9% vs 4.2%13% vs 4%ORR TEAE: G3 29%TEAE 53%TEAE 54%TEAE: 48%Not explicitly statedGrade ≥3 0%0%3%6% 13% (per label) 4 due to hematologic toxicity 5 due to renal related event Any Grade AEs treatment discontinuations 1 interruption, 1 reduction24%Not disclosed11%6% dose reductionAny Grade AEs treatment modification or interruptions *Renal G3: 3%Creatinine clearance decreased 35% / 12% *Renal events: 37% / 17% *Creatinine : 9% / 3% *Renal & urinary disorders 15% / 1% Renal failure: 13% / 3% *G≥3 nephrotoxicity AE: 5% Renal (All / G ≥ 3) (*Timeframe beyond treatment period) Lymphocyte count ↓: 22%/7% Anaemia: 16%/ 0% Lymphocyte count : 35% / 18% Anemia: 59% / 18%Lymphopenia: 31% /26% *Lymphopenia: 18% / 6% *Anaemia: 16% / 5% *Thrombocytopenia: 15% / 1% *Neutropenia: 7% / 2% MDS: 1 case Lymphopenia: 90% / 44% Anaemia: 81% / 0% Leukopenia: 55/% 2% Thrombocytopenia: 53% / 1% Neutropenia: 26% / 3% Heme (All / G ≥ 3) (*Timeframe beyond treatment period) NA Dysphagia treated with Botox injection or minimally invasive surgery Other
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U.S. REAL-WORLD TREATMENT PATTERNS U.S. Second-Line GEP-NET Use Trending towards PRRT and Targeted Therapy ¹ Source: Citeline / Norstella, Perspective, Claims based Line of Therapy Analysis, U.S. cohort: 16,077 patients (2018–Aug 2026). Shares may not total 100% due to rounding. 2L = second line. PRRT = peptide receptor radionuclide therapy. SSA = somatostatin analog. CAPTEM = Capecitabine plus Temozolomide combination therapy. Third and later lines and standalone SSA excluded. Class changes define new lines. Descriptive observational data, subject to coding, coverage and selection limitations. May not represent all U.S. patients or trial-eligible patients. No comparative efficacy or safety inference. Not a forecast of market share, revenue, clinical outcomes or control-arm allocation. 2025 share 2021 shareTherapies in class¹Treatment class 35%28%Lutetium Lu-177 (LUTATHERA®)PRRT 21%17%Everolimus, cabozantinib, sunitinibTargeted therapy 45%55%Cytotoxic and other / combination regimensUnapproved / other2 Shift towards PRRT and targeted therapy • PRRT share rose from 28% in 2021 to 35% in 2025. • Targeted therapy share fell from 17% in 2021 to 13% in 2024, then rebounded to 21% in 2025, coinciding with cabozantinib’s FDA approval for NETs. • Chemotherapy (CAPTEM) is not FDA-approved for NETs but is included in clinical practice guidelines and is commonly used off-label, particularly in pancreatic NETs. 2025 observed 2L treatment mix 35% 21% 45% PRRT Targeted Unapproved / other PRRT and targeted therapy together accounted for 55% of observed 2L starts in 2025.¹ 15 |
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APPENDIX Abbreviations 16 | AE: adverse event BICR: blinded independent central review BOIN12: Bayesian optimal interval Phase I/II CAPTEM: capecitabine + temozolomide CHMP: Committee for Medicinal Products for Human Use CI: confidence interval CKD-EPI: Chronic Kidney Disease Epidemiology Collaboration CR: complete response DCO: data cut-off DCR: disease control rate DLT: dose-limiting toxicity DOR: duration of response ECOG: Eastern Cooperative Oncology Group eGFR: estimated glomerular filtration rate EMA: European Medicines Agency EOP2: End-of-Phase 2 ESMO: European Society for Medical Oncology FDA: U.S. Food and Drug Administration GEP-NET: gastroenteropancreatic neuroendocrine tumor HR: hazard ratio IND: investigational new drug application mCi: millicurie NE: not estimable NR: not reached ORR: objective response rate OS: overall survival PD: progressive disease PET: positron emission tomography PFS: progression-free survival PR: partial response PRO: patient-reported outcome PRRT: peptide receptor radionuclide therapy RBE: relative biological effectiveness RECIST: Response Evaluation Criteria in Solid Tumors RLT: radioligand therapy SAE: serious adverse event SD: stable disease SSA: somatostatin analogue SSTR2: somatostatin receptor type 2 TEAE: treatment-emergent adverse event Thor: Thorvardur Ragnar Halfdanarson TKI: tyrosine kinase inhibitor TPC: treating physician’s choice
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ESMO 2026
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Cohort-level safety and efficacy results for [²¹²Pb]VMT-α-NET in advanced somatostatin receptor subtype 2 (SSTR2+)-expressing neuroendocrine tumors (NETs): Cohorts 1–3 Thorvardur Halfdanarson¹, Vikas Prasad², Vineeth Sukrithan³, Brandon Mancini⁴, Seyed Mosallaie⁵, Savitha Balaraman⁶, Gregory Sibley⁷, Jason Starr⁸, Lowell Anthony⁹, Chih-Yi Liao¹⁰, Samuel Mehr¹¹, Jared Weiss¹², Robert Ramirez¹³, Amir Iravani¹⁴, Lucia Baratto¹⁵, Shilpen Patel¹⁵, Markus Puhlmann¹⁵, Richard Wahl² ¹ Mayo Clinic Rochester, Rochester, MN; ² Washington University School of Medicine, St. Louis, MO; ³ Ohio State University, Columbus, OH; ⁴ Bold Advanced Medical Future (BAMF) Health, Grand Rapids, MI; ⁵ Johns Hopkins, Baltimore, MD; ⁶ MHP Radiation Oncology Institute, Troy, MI; ⁷ Virginia Cancer Specialists, Fairfax, VA; ⁸ Mayo Clinic, Jacksonville, FL; ⁹ University of Kentucky, Lexington, KY; ¹⁰ University of Chicago, Chicago, IL; ¹¹ Nebraska Cancer Specialists, Omaha, NE; ¹² University of North Carolina, Chapel Hill, NC; ¹³ Vanderbilt University Medical Center, Nashville, TN; ¹⁴ University of Washington Radiology, Seattle, WA; ¹⁵ Perspective Therapeutics, Inc., Seattle, WA Study VMT-α-NET-T101 | NCT05636618 | Data cut: 02 Sep 2026
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Declaration of Interests Research support to institution: Thermo Fisher Scientific, Advanced Accelerator Applications (a Novartis company), Camurus, Crinetics, ITM Isotope Technologies Munich, RayzeBio (a Bristol Myers Squibb company), Perspective Therapeutics, Rezolute, Exelixis Consulting/Advisory Board: Exelixis*, Curium*, Boehringer Ingelheim*, Biomea Fusion*, Sanofi*, Novartis, ITM Isotope Technologies Munich, Crinetics, Perspective Therapeutics, Camurus, Abdera Therapeutics *personal compensation Content of this presentation is copyright and responsibility of the author. Permission is required for re-use.
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Study Design and Baseline Characteristics Doses: Cohort 1, 2.5 mCi; Cohort 2, 5.0 mCi; Cohort 3,* 6.0 mCi (× 4 doses every 8 weeks) Primary endpoints: Safety, DLTs, and ORR. Secondary endpoints: PFS (Investigator-assessed RECIST v1.1) Design: Phase 1/2a dose escalation and exploration in PRRT-naïve, SSTR2-positive NETs 1 Retrospective sub-group analysis based on NETTER-1 SSTR2 selection criteria 2 Other = bronchial + pheo/para. * Patients <60 kg received 3.7 MBq/kg. Dose, cohort size, and follow-up differ. DLT, dose-limiting toxicity; GEP-NET, gastroenteropancreatic neuroendocrine tumor; GI-NET, gastrointestinal neuroendocrine tumor; MBq, megabecquerel; NET, neuroendocrine tumor; ORR, objective response rate; PFS, progression-free survival; pheo/para, pheochromocytoma/paraganglioma; P-NET, pancreatic neuroendocrine tumor; PRRT, peptide receptor radionuclide therapy; RECIST v1.1, Response Evaluation Criteria in Solid Tumors version 1.1; SSA, somatostatin analog; SSTR2, somatostatin receptor subtype 2. Total (N=68) Cohort 3* (N=20) Cohort 2 (N=46) Cohort 1 (N=2)Characteristic 62.562.561.565.5Age, median, years Primary Cancer Diagnosis 34 (50.0)9 (45.0)23 (50.0)2 (100)GI-NET, n (%) 31 (45.6)11 (55.0)20 (43.5)0P-NET, n (%) 57 (83.8)17 (85.0)38 (82.6)2 (100)GEP-NETSSTR2-positive in all target lesions 1, n (%) 3 (4.4)03 (6.5)0Other NETs2, n (%) NET Grade 15 (22.1)6 (30.0)8 (17.4)1 (50.0)Grade 1, n (%) 44 (64.7)11 (55.0)32 (69.6)1 (50.0)Grade 2, n (%) 9 (13.2)3 (15.0)6 (13.0)0Grade 3, n (%) Prior Systemic Therapy 1 (0–2)1 (0–1)1 (0–2)1 (1–1)Prior therapies, median (range) 59 (86.8)16 (80.0)41 (89.1)2 (100)Prior SSA, n (%)
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Safety: Overall Profile TEAE Renal Safety Profile n (%)Cohorts 1–3 (N=68) 2 (2.9)Grade 3 *Several subjects with >1 event: Cohort 1: Amylase increased; Cohort 2: Lymphocyte count decreased (N=4), HTN (N=3 ), Diarrhoea (N=3), Abdominal pain (N=1), Syncope (N=2), Asthenia (N=1), Cardiac failure (N=1), Fatigue (N=1), Hypokal aemia (N=1), Pancreatitis (N=1), Pr esyncope (N=1), Vomiting (N=1); Cohort 3: Lymphocyte count decreased (N=1), HTN (N=1), ALT increased (N=1), GGT increased (N=1), Influenza like illness (N=1), Nausea (N=1), Upper GI haemorrhage (N=1). Differences across interim safety summaries reflect routine database cleaning and investigator adjudication of laboratory abnor malities reported as adverse events. TEAE window: first [²¹²Pb]VMT-α-NET dose through 56 days after last dose, or until subsequent anti-cancer therapy, whichever is earlier. AE, adverse event; ALT, alanine aminotransferase; GGT, gamma-glu tamyl transferase; GI, gastrointesti nal; HTN, hypertension; TEA E, treatment-emergent adverse event. Total N=68 (%) Cohort 3 N=20 (%) Cohort 2 N=46 (%) Cohort 1 N=2 (%)Safety Analysis Set 67 (98.5)20 (100)45 (97.8)2 (100)Subjects with ≥1 TEAE 46 (67.6)12 (60.0)32 (69.6)2 (100)Alopecia 44 (64.7)12 (60.0)30 (65.2)2 (100)Fatigue 45 (66.2)18 (90.0)26 (56.5)1 (50.0)Nausea 29 (42.6)7 (35.0)20 (43.5)2 (100)Diarrhoea 16 (23.5)4 (20.0)11 (23.9)1 (50.0)Abdominal pain 15 (22.1)2 (10.0)11 (23.9)2 (100)Lymphocyte count decreased 13 (19.1)3 (15.0)10 (21.7)0Hypertension 10 (14.7)1 (5.0)8 (17.4)1 (50.0)Headache 10 (14.7)2 (10.0)8 (17.4)0Dizziness 11 (16.2)1 (5.0)8 (17.4)2 (100)Anemia 11 (16.2)3 (15.0)8 (17.4)0Back pain 11 (16.2)4 (20.0)7 (15.2)0Constipation 20 (29.4)5 (25.0)*14 (30.4)*1 (50.0)*TEAE Grade 3 0000TEAE Grade 4 or 5 0000Dysphagia
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Efficacy Objective Responses in Cohort 2 (33%) and Cohort 3 (40%*), with disease control in ≥89% of patients in each cohort All treated patients; Investigator-assessed RECIST v1.1; ORR = confirmed or unconfirmed CR/PR. Waterfall: 67 patients with a post-baseline measurement. Best overall response by cohort Disease control = CR/PR/SD. *Two additional uPRs reported as of 10 Sep 2026, for a total of 5 uPRs and an ORR of 50% (25% confirmed) for Cohort 3 CR, complete response; DCO, data cutoff; GEP-NET, gastroenteropancreatic neuroendocrine tumor; ORR, objective response rate; PR, partial response; RECIST v1.1, Response Evaluation Criteria in Solid Tumors version 1.1; SD, stable disease; SSTR2+, somatostatin receptor subtype 2–positive; uPR, unconfirmed partial response for Cohort 3. Cohort 3 N=20 (%) Cohort 2 N=46 (%) Cohort 1 N=2 (%) 19 (95.0)41 (89.1)2 (100)Disease control 8 (40.0)15 (32.6)0ORR 5 (25.0)14 (30.4)0Confirmed PR 3 (15.0)*1 (2.2)0Unconfirmed PR 11 (55.0)26 (56.5)2 (100)Stable disease 1 (5.0)5 (10.9)0Progressive disease 6/17 (35.3) 14/38 (36.8) 0/2 (0.0)ORR GEP-NET SSTR2+ Additional unconfirmed PR as of 10 Sep 2026
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PFS Investigator-assessed RECIST v1.1; Kaplan-Meier estimates with log-log 95% CI. Cohort 3 is preliminary dose-exploration data and is shown separately in the landmark table. CI, confidence interval; ITT, intention-to-treat; mo, months; NE, not estimable; PFS, progression-free survival; RECIST v1.1, Response Evaluation Criteria in Solid Tumors version 1.1. Landmark PFS rate, % (95% CI) Cohorts 1–3 (N=68) Cohort 3 (N=20) Cohort 2 (N=46) Cohort 1 (N=2) 85.7 (74.9–92.0)89.1 (62.7–97.2)82.6 (68.2–90.9)1006 months 74.2 (61.1–83.5)76.3 (38.2–92.7)‡71.2 (55.7–82.2)10012 months 71.9 (58.3–81.8)NE68.9 (53.1–80.3)10018 months 52 / 33 / 1512 / 1 / 038 / 30 / 132 / 2 / 2At risk, 6 / 12 / 18 mo 18 (26.5)3 (15.0)15 (32.6)0PFS events, n (%) ‡1 patient at risk at 12 months. NE, not estimable (no patient at risk). Cohort 2 Across ITT population, 72% of patients remained progression-free at 18 months Kaplan-Meier estimate of PFS
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Durability Durable disease control was observed across all cohorts Investigator-assessed RECIST v1.1. Time on study and response are shown descriptively. PD, progressive disease; PR, partial response; RECIST v1.1, Response Evaluation Criteria in Solid Tumor s version 1.1; SD, stable disease. Time on study and response Cohort 3: Percent change from baseline in target lesions over time Patients (N=68)
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Conclusions and Next Steps • This ongoing Phase 1/2a dose-exploration study showed durable disease control and encouraging responses • Within the defined TEAE window, no Grade 4 or 5 TEAEs, treatment-related SAEs, or AE-related treatment discontinuations were reported • Renal function is being characterized over longer follow-up • Response and PFS results continue to mature across all cohorts SAFETY • No Dysphagia • No DLTs • No Myelodysplastic Syndrome • Long-term safety follow-up is ongoing EFFICACY Cohort 2: • DCR 89% • ORR 33% • PFS at 18 months 69% Cohort 3: • DCR 95% • ORR 40% (50% as of 10 Sep 2026) • PFS at 12 months 76% Thank you to all participants in the VMT-α-NET-T101 trial and to all clinical trial investigators Copies of this presentation obtained through QR, AR and/or text key codes are for personal use only and may not be reproduced without written permission of the authors.