Perspective Therapeutics (CATX) said Thursday that it will proceed with a dose escalation study of its radiopharmaceutical therapy candidate for the treatment of neuroendocrine tumors under an ongoing phase 1/2a trial after a consultation with the US Food and Drug Administration.

The company said the trial has tested two doses of the radiopharmaceutical therapy in nine patients, eight of whom showed "durable control of disease" and six had measurable reduction of tumor volume.

Perspective said no dose limiting toxicities were observed in the patients and the safety monitoring committee said safety observations support proceeding with the dose escalation and expanding patient enrollment.

Perspective Therapeutics Chief Medical Officer Markus Puhlmann said the company expects to "engage with the FDA in the coming weeks to pursue dose escalation."

Perspective Therapeutics shares were down 46% in recent trading.

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