By CEO Lori Woods

We began this journey with a simple truth. Standing still is never an option. And the history of Isoray underscores that reality. When Isoray was founded, we were focused on the treatment of prostate cancer utilizing Cesium-131. Some saw it as a gamble. The founders saw it for what it was, a medical technology breakthrough.

Those founders saw the opportunity to advance brachytherapy with a game-changing isotope that they recognized would make an impactful difference for prostate cancer patients and the clinicians who treat them. Their vision became a reality. And since that time, Isoray has continued to innovate. We have expanded the application of Cesium-131 brachytherapy to include treatment options for cancers throughout the body. One prime example is the change we are powering with Cesium-131 in treating brain cancer.

Our strategic approach to growing the company and treatment opportunities for patients and their doctors has its roots in that approach to advancement. Our partnerships and trials such as the study for recurrent head and neck cancers utilizing Cesium-131 in conjunction with immunotherapy drug Keytruda are reflective of our ongoing efforts to remain at the forefront of progress and innovation. Our pending proposed merger with Viewpoint Molecular Targeting continues our journey down that path.

As we recently discussed during our earnings announcement, we did not make this decision in haste. Rather, as I have shared with you, we looked to the future with a meticulous evaluation process. We worked with scientists, medical researchers, and industry experts to evaluate and investigate next steps that would propel Isoray forward into the future of cancer treatments in our target markets of radiation, radiopharmaceuticals, and imaging technologies.

Throughout this process, our goal never changed. We remained resolute in our commitment to build on Isoray’s leadership role in brachytherapy focused on being leaders in the next key advancement in cancer treatment. At the same time, we had an unwavering commitment to our philosophy of bringing to market the most promising precise, personalized, targeted treatment options for patients.

What I want each of you to know is that emerging from this intensive evaluation, our proposed merger with Viewpoint Molecular Targeting reflects our vision and goals. It provides a pipeline of future products supporting that commitment to our patients, speaks to the continued growth of Isoray, and affirms our commitment to increasing shareholder value.

As we look to 2023, the pending merger with Viewpoint Molecular Targeting portends a bright future for Isoray. It opens the door to the rapidly emerging radiopharmaceutical space. It reflects a shared belief in treating cancer from the inside out and it allows us to continue our focus on expanding Isoray’s role in the treatment of cancers throughout the body utilizing Cesium-131 brachytherapy applications while expanding our impact on the treatment of cancer with the development of the Viewpoint pipeline. This is the ultimate win-win scenario for Isoray, cancer patients, clinicians, and our shareholders.