Business
Lantheus Reports First Quarter 2024 Financial Results
First Quarter 2024 Worldwide revenue of $370.0 million, an increase of 23.0% from first quarter 2023 GAAP fully diluted net income per share of $1.87,
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":"First Quarter 2024 Worldwide revenue of $370.0 million, an increase of 23.0% from first quarter 2023 GAAP fully diluted net income per share of $1.87, compared to GAAP fully diluted net loss per share of $0.04 in first quarter 2023. Adjusted fully diluted net income per share of $1.69 compared to adjusted fully diluted net income per share of $1.47 in the first quarter 2023The Company increases full year 2024 net revenue and earnings guidance and provides guidance for the second quarter 2024 BEDFORD, Mass., May 02, 2024 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (the Company) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today reported financial results for its first quarter ended March 31, 2024. “Strong first quarter performance underscores the Company’s commercial excellence and innovation, as we once again delivered outstanding results while continuing to make strategic investments that advance and expand our pipeline,” said Brian Markison, Chief Executive Officer of Lantheus. “Our market leading commercial portfolio, fully integrated capabilities and strong financial position, including our significant cash flow and access to capital, provide a foundation for continued growth. Utilizing our radiopharmaceutical expertise and financial resources, we will invest in our current business to maximize value and evaluate business development and M&A opportunities, in both diagnostics and therapeutics, to continue enhancing our pipeline and capabilities.” Summary Financial Results (in millions, except per share data – unaudited) Three Months Ended March 31, 2024 2023 % ChangeWorldwide revenue $ 370.0 $ 300.8 23.0 %GAAP net income (loss) $ 131.1 $ (2.8) (4769.3)%GAAP fully diluted net income (loss) per share $ 1.87 $ (0.04) (4616.4)%Adj. net income (non-GAAP) $ 118.3 $ 102.2 15.8 %Adj. fully diluted net income per share (non-GAAP) $ 1.69 $ 1.47 15.2 % First Quarter 2024 Worldwide revenue increased 23.0% to $370.0 million compared to the same period in 2023. Growth was primarily driven by net product sales of PYLARIFY and DEFINITY. Net product sales of PYLARIFY were $258.9 million, an increase of 32.4% over $195.5 million in the prior year period. Growth was driven by increasing utilization of PSMA PET with PYLARIFY...