UPDATE: Perspective Therapeutics (CATX) Drops an Alpha Hammer at ASCO-GI

ASCO-GI 2026: With 85.7% ORR and zero grade 3 renal toxicity, the Alpha thesis just got stronger.

Executive Summary: The Thesis Just Got Stronger

In my initial deep dive, I pointed out that Perspective Therapeutics (CATX) could be viewed as a high risk / high reward buy based on the kidney hypothesis — the idea that their chelator could theoretically solve the renal toxicity that has plagued targeted alpha therapies.

Yesterday, at ASCO-GI 2026, they dropped some receipts. The data from the Phase 1/2a VMT-α-NET trial (Cohort 2) doesn’t just support the safety thesis; it shows efficacy that arguably blows the Standard of Care out of the water, albeit in a small sample size.