Deep Value: cash covers more than 100% of the stock price

This company holds roughly $271M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Perspective Therapeutics

CATX

Medical - Devices · Healthcare

Price

$3.00

+0.03 (+1.01%)

Market Cap

$342.1M

Exchange

New York Stock Exchange American

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+34.4% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 54.9M (2022) → 73.8M (2025)

Perspective Therapeutics is a small biotech company focused on targeted alpha therapy, a type of cancer treatment that delivers radiation directly to tumor cells while trying to spare healthy tissue. Its lead programs use a radioactive element called actinium to treat cancers such as melanoma and prostate cancer. The company sells nothing commercially yet — it is still running clinical trials to test whether its treatments are safe and effective enough to win FDA approval.

The company earns almost no revenue today and funds its operations through stock offerings and partnerships, which is typical for early-stage drug developers. It operates primarily in the United States and has a market cap of roughly $200 million, reflecting the high-risk, high-uncertainty nature of its pipeline. The main growth driver is advancing its clinical trials toward regulatory approval, but the biggest risk is that those trials could fail, which would severely damage the company's prospects and require it to raise more cash to survive.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-77.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$84M/ year

↑ Rising (+102% vs prior year)

R&D investment increasing — building for the future

Insider Activity

34.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~21 months

$271M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

Perspective Therapeutics's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-1381.6%

Thin — -1381.6% gross margin

Operating Margin

-37211.8%

Losing money on operations — -37211.8%

ROCE

-8.1%

Weak — -8.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-58.0%

Shrinking sales (-58.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-17365.9%

Burning cash (-17365.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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