IsoRay

What IsoRay does

IsoRay, founded in 1998 in Richland, Washington, and publicly listed on NYSE Arca under the ticker ISR, is a specialty radiopharmaceutical and brachytherapy company that designs, manufactures, and distributes radioactive isotope-based products for the treatment of cancer. Its core technology centers on Cesium-131, an isotope used in brachytherapy seeds implanted directly at tumor sites, delivered through an enterprise field-sales motion to oncology treatment centers and healthcare providers serving cancer patients. Following a February 2023 merger with Viewpoint Molecular Targeting, the company rebranded to Perspective Therapeutics, expanding its platform beyond Cesium-131 brachytherapy into a Targeted Radiopharmaceuticals Platform that includes theranostic imaging technologies combining diagnostic and therapeutic radiopharmaceuticals.

Name

IsoRay

Website

https://isoray.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

IsoRay (now Perspective Therapeutics) develops and commercializes radiopharmaceutical and brachytherapy products, including Cesium-131 seeds and a theranostic platform, serving oncology treatment centers and cancer patients.

Ownership category

akta.pro rank

Product category

Radiopharmaceutical Cancer Treatment

NAICS

Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC)

akta.pro secondary industries

Radiation Therapy Isotopes & Sources (Brachytherapy seeds, sealed sources for oncology) (EUAKAIAD), Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)

Keywords

• Radiopharmaceutical products
• Cancer treatment devices
• Brachytherapy seeds
• Theranostic imaging
• Radioactive isotopes

Headquarters

HQ city

Richland

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Operations, Personnel

Revenue model

1. Radiopharmaceutical Products: Development and sale of radiopharmaceutical products for cancer treatment, including targeted radiopharmaceuticals for solid cancer patients

Go-to-market motion1 record

Core offering

IsoRay designs, develops, and manufactures radiopharmaceutical products for cancer treatment, including targeted Cesium-131 brachytherapy seeds and theranostic approaches that combine diagnostic imaging with therapeutic radiopharmaceuticals. The company's products deliver radioactive isotopes directly to tumor sites for solid cancer patients, enabling personalized treatment. Following a 2023 merger with Viewpoint Molecular Targeting, IsoRay rebranded as Perspective Therapeutics and expanded its capabilities in targeted radiopharmaceuticals.

Product overview

IsoRay, Inc. (now rebranded as Perspective Therapeutics following a 2023 merger with Viewpoint Molecular Targeting) is a radiopharmaceutical company focused on cancer treatment. The company's core offerings include targeted radiopharmaceuticals and theranostic imaging technologies. Following the merger, the combined entity operates as Perspective Therapeutics, Inc., advancing personalized theranostic approaches that integrate diagnostic imaging with therapeutic radiopharmaceutical products for solid tumor treatment. The company offers radioactive isotopes including Cesium-131 for brachytherapy applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Cesium-131 Brachytherapy Seeds

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Viewpoint Molecular Targeting, Inc.coreStrategic or Co-development Partner · 6 February 2023IsoRay and Viewpoint Molecular Targeting announced a merger in an all-stock transaction. The companies rebranded as Perspective Therapeutics, Inc. effective February 21, 2023. The partnership aims to develop targeted radiopharmaceuticals for solid cancer patients, combining IsoRay's radiopharmaceutical capabilities with Viewpoint's molecular targeting technologies.

Scale indicators2 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Telix Pharmaceuticals: Telix is a commercial-stage radiopharmaceutical company developing diagnostic and therapeutic radiopharmaceuticals across oncology (e.g., Illuccix for PSMA imaging). It is a direct competitor in theranostic platforms targeting solid tumors, sharing the paired Dx/Tx model that IsoRay/Perspective is building.
• Lantheus Holdings: Lantheus is a radiopharmaceutical-focused company with established diagnostic imaging agents (e.g., Pylarify for PSMA PET) and a growing therapeutic pipeline. It directly competes with Perspective Therapeutics in radiopharmaceutical development for oncology.
• Curium Pharma: Curium is a global radiopharmaceutical company producing diagnostic and therapeutic nuclear medicine products. It competes directly with IsoRay/Perspective in the production and supply of radiopharmaceuticals, including in oncology applications.
• Bracco Imaging: Bracco Imaging is a global diagnostic imaging company offering contrast agents and radiopharmaceuticals. It overlaps with Perspective Therapeutics' theranostic imaging agent ambitions and is a relevant peer in the nuclear medicine imaging agent category.

Broad incumbents

• Novartis (Advanced Accelerator Applications): Novartis, through its Advanced Accelerator Applications subsidiary, commercializes Pluvicto and Lutathera, the leading radioligand therapies. As the dominant commercial player in therapeutic radiopharmaceuticals, it sets the competitive benchmark for emerging solid-tumor theranostic platforms like Perspective Therapeutics.
• Bayer: Bayer commercializes Xofigo (radium-223) for castration-resistant prostate cancer and has broader radiopharmaceutical and oncology infrastructure. As a large incumbent, it competes in therapeutic radiopharmaceuticals and represents both a competitor and potential partner/acquirer.
• GE HealthCare: GE HealthCare offers a broad portfolio spanning nuclear medicine imaging, radiotherapy systems, and contrast agents. Listed alongside IsoRay as a prominent radiotherapy market player, it represents a broad incumbent competing across the cancer imaging and therapy value chain.
• Siemens Healthineers: Siemens Healthineers is a major medical imaging and radiotherapy company (e.g., linear accelerators, PET/CT). It is listed alongside IsoRay in the radiotherapy market and competes in adjacent imaging and therapy infrastructure that supports radiopharmaceutical-based cancer care.

Others

• Theragenics: Theragenics distributes IsoRay's Cesium-131 brachytherapy seeds and also offers its own brachytherapy and fiducial marker portfolio. While a distribution partner for the legacy product, it operates in the same radiation oncology market and represents an adjacent channel participant.
• Cardinal Health (Nuclear Pharmacy Services): Cardinal Health operates one of the largest radiopharmaceutical distribution and nuclear pharmacy networks in the U.S. While primarily a distributor rather than a developer, it is a relevant channel/ecosystem participant that influences how radiopharmaceutical products reach oncology treatment centers served by Perspective Therapeutics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IsoRay