Perspective Therapeutics (CATX) said Tuesday the European Commission granted orphan medicinal product designation to its experimental therapy for the treatment of gastroenteropancreatic neuroendocrine tumors, following a positive recommendation from the European Medicines Agency's Committee for Orphan Medicinal Products.

The company said the designation provides development and potential commercial incentives, including protocol assistance, fee reductions and, if approved, up to 10 years of market exclusivity in the European Union.