Perspective Therapeutics Q3 net loss widens on higher R&D costs

Overview

• US radiopharmaceutical developer's Q3 net loss widened as R&D expenses increased

• Company ended Q3 with $202 mln in cash and investments, funding expected into 2028

• FDA granted Fast Track designation to PSV359 for FAP-positive solitary fibrous tumors

Outlook

• Company expects cash reserves to fund operations and clinical milestones into 2028

• Perspective Therapeutics targets end-of-Phase 2 FDA meeting for bamzireotide in 1Q 2027

• Company plans next clinical update for PSV359 in 2027

Result Drivers

• R&D SPENDING - Higher research and development expenses contributed to increased net loss in Q3

• CLINICAL PROGRAM PROGRESS - Company advanced multiple clinical programs, including completion of enrollment in a key cohort for bamzireotide and continued recruitment for lapemelanotide and PSV359 studies

• REGULATORY ADVANCEMENTS - FDA granted Fast Track designation to PSV359 and European orphan designation to bamzireotide, supporting development of lead programs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Perspective Therapeutics, Inc. is $11.50, about 1,269% above its November 6 closing price of $0.84

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)