Morgan Stanley discloses 6% CATX stake in Perspective Therapeutics (CATX) filing

Rhea-AI Filing Summary

Morgan Stanley has filed a Schedule 13G reporting a significant ownership stake in Perspective Therapeutics, Inc. common stock. As of 12/31/2025, Morgan Stanley reports beneficial ownership of 4,461,893 shares, representing 6.0% of the company’s common stock.

The firm reports no sole voting or dispositive power, with shared voting power over 3,386,203 shares and shared dispositive power over 3,555,365 shares. Morgan Stanley certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Perspective Therapeutics.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Perspective Therapeutics, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

46489V302

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 46489V302

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,386,203.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,555,365.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,461,893.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Perspective Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 2401 ELLIOTT AVENUE, SUITE 320, SEATTLE, WA, 98121
Item 2.
(a)	Name of person filing: Morgan Stanley
(b)	Address or principal business office or, if none, residence: 1585 Broadway, New York, NY 10036
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 46489V302
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 6.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/12/2026

FAQ

What stake in CATX does Morgan Stanley report on this Schedule 13G?

Morgan Stanley reports beneficial ownership of 4,461,893 shares of Perspective Therapeutics common stock, representing 6.0% of the outstanding class. This level of ownership makes Morgan Stanley a significant institutional holder under SEC rules requiring Schedule 13G filings for more than five percent stakes.

How much voting power does Morgan Stanley report over CATX shares?

Morgan Stanley reports no sole voting power and shared voting power over 3,386,203 shares of Perspective Therapeutics common stock. This means voting authority is shared with others for those shares, rather than Morgan Stanley holding exclusive voting control over the reported position.

Does Morgan Stanley intend to influence control of Perspective Therapeutics (CATX)?

Morgan Stanley certifies the CATX securities were acquired and are held in the ordinary course of business, not for changing or influencing control. The filing states they are not held in connection with any transaction having that purpose or effect, consistent with a passive Schedule 13G filing.

What type of reporting person is Morgan Stanley in this CATX filing?

Morgan Stanley identifies itself as a parent holding company or control person (HC) organized in Delaware. The filing reflects securities beneficially owned, or deemed beneficially owned, by certain Morgan Stanley operating units grouped as the “MS Reporting Units” under SEC disaggregation guidance.

As of what date is Morgan Stanley’s CATX ownership information reported?

The Schedule 13G reports Morgan Stanley’s beneficial ownership in CATX as of December 31, 2025. That “date of event” is the reference point for the 4,461,893 shares and 6.0% ownership figure disclosed, aligning with typical year-end institutional position reporting requirements.