Perspective Therapeutics (CATX) stock plummeted 11.49% in intraday trading on Friday, ahead of the company's planned presentation of initial results from a Phase 1/2a trial of its radiopharmaceutical [212Pb]VMT-α-NET for treating neuroendocrine tumors.
The radiopharmaceutical company is set to discuss the "Preliminary safety and efficacy data" of [212Pb]VMT-α-NET at the 2024 North American Neuroendocrine Tumor Society (NANETS) Multidisciplinary NET Medical Symposium on November 22nd. The trial is evaluating the treatment in patients with somatostatin receptor subtype 2 (SSTR2) expressing neuroendocrine tumors, a rare and difficult-to-treat form of cancer.
While the news release did not provide any specifics on the clinical trial data, investors appear to be bracing for potential disappointment with the initial readout. The sharp sell-off in Perspective's shares suggests market concerns that the results may not live up to expectations, which could dampen prospects for [212Pb]VMT-α-NET's future development and commercialization.
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