CATX - 1Q26: Looking to Late-2026 for Full NET Cohort 2 Data; Pipeline Expansion Leverages the Pb Value Proposition

研报英文原文证据摘录

CATX - 1Q26: Looking to Late-2026 for Full NET Cohort 2 Data; Pipeline Expansion Leverages the Pb Value Proposition

$5.65-$2.05 fully enrolled and Cohort 4 (front-loaded 6/5/5/4 mCi) open and recruiting, reflecting ongoing

Market Cap ($M) 442 efforts to refine dosing while preserving the favorable safety profile observed to date. As

follow-up lengthens across Cohort 2, and responses continue to mature, we sense the ADTV 1,090,061

potential for a reinforcement of mgmt’s view that the current dataset is increasingly sufficient Shares Out (M) 114 to support meaningful regulatory dialogue later this year; we look to full data from Cohort 2's

Short Interest Ratio/% Of Float 14.0% 46 patients later this year. We see the ultimate completion of Cohort 3 and the optionality

Enterprise Value ($M) 173 provided by Cohort 4 as further de-risking steps as the program transitions from dose finding

Cash & Equivalents ($M) 271 toward registration-enabling execution.

Total Debt ($M) 2

VMT01 remains geared towards advancing monotherapy and combination

positioning in melanoma, data in late-2026. VMT01 continues to progress through

7 Page Document development in MC1R+ R/R metastatic melanoma, with both the 3.0 mCi monotherapy and

3.0 mCi nivolumab combination cohorts now closed to enrollment following dosing of ten

patients (since re-opening in 2H25). We look to late-year, for sufficient follow-up to assess

Reasons for this report initial anti-tumor activity and durability after completion of up to three doses. Looking back,

we see potential in the mechanistic rationale supporting VMT01's synergy with checkpoint

✓ Earnings Recap inhibition, which collectively underpin the program's potential to carve out a differentiated