Perspective Therapeutics jumps after $175 mln equity offering

Perspective Therapeutics

02/02/2026 15:34

** Radiation oncology firm Perspective Therapeutics CATX.A shares up 17.3% at $4.44 on Mon after $175 mln follow-on offering

** CATX early Mon announced pricing 46.2 mln shares, including ~6.6 mln pre-funded warrants, at $3.79, in line with stock's last sale on Fri

** Co intends to use net offering proceeds to advance product candidates clinical development, invest in manufacturing facilities, among other purposes, and may use some proceeds for potential future acquisitions

** Piper Sandler, UBS, Oppenheimer, Truist and LifeSci Capital joint bookrunners

** CATX shares on Thurs more than doubled to 14-month high of $6.16 before ending session up 66% at $4.26 after Sanofi SASY.PA in Q4 report said it deprioritized SAR447873 (AlphaMedix), a SSTR (Somatostatin Receptor-targeted radiopharmaceutical therapy) for neuroendocrine tumors

** BTIG said in a research note that CATX shares have lagged post Oct 2025 primarily due to VMT-α-NET comparisons against AlphaMedix, but sees an opportunity for shares to re-rate with a "key competitive overhang mitigated"

** BTIG has 'buy' rating and $14 PT on CATX

** CATX's neuroendocrine VMT-α-NET, melanoma (VMT01), and solid tumor (PSV359) programs are in early-stage trials in the US (Click here for CATX corporate presentation)

** Seattle, Washington-based firm has ~74.4 mln shares outstanding

** 12 of 13 brokerages rate shares "strong buy" or "buy", 1 "hold"; median PT $12, per LSEG data

** Stock fell 14% last year

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))