Business
Lantheus Reports Second Quarter 2024 Financial Results
Second Quarter 2024 Worldwide revenue of $394.1 million, an increase of 22.5% from second quarter 2023Completed three strategic transactions to expand
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":"Second Quarter 2024 Worldwide revenue of $394.1 million, an increase of 22.5% from second quarter 2023Completed three strategic transactions to expand innovative pipelineGAAP fully diluted earnings per share of $0.88, compared to $1.33 in second quarter 2023. Adjusted fully diluted earnings per share of $1.80 compared to $1.54 in the second quarter 2023, reflective of inter-quarter investment in business development and R&D.The Company maintains full year 2024 revenue guidance and updates fully diluted earnings per share guidance driven by strategic transactions BEDFORD, Mass., July 31, 2024 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (Lantheus or 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 second quarter ended June 30, 2024. “We delivered another strong quarter as we continued to maximize the value of our commercial portfolio,” said Brian Markison, Chief Executive Officer of Lantheus. “With the strength of our balance sheet and radiopharmaceutical expertise, we also announced three strategic transactions that underscore our ongoing commitment to expand our pipeline of radiodiagnostics and radiotherapeutics to address unmet medical needs for significant patient populations. Looking ahead, we will continue to sustain an attractive financial profile by driving strong performance from our commercial products, advancing our R&D pipeline and executing strategically impactful business development.” Summary Financial Results (in millions, except per share data – unaudited) Three Months Ended June 30, 2024 2023 % ChangeWorldwide revenue $394.1 $321.7 22.5 %GAAP net income $62.1 $94.1 (34.1)%GAAP fully diluted earnings per share $0.88 $1.33 (33.7)%Adj. net income (non-GAAP) $126.8 $109.6 15.7 %Adj. fully diluted earnings per share (non-GAAP) $1.80 $1.54 16.4 % Second Quarter 2024 Worldwide revenue increased 22.5% to $394.1 million compared to the same period in 2023. Growth was primarily driven by PYLARIFY and DEFINITY.Sales of PYLARIFY were $273.3 million, an increase of 29.8% over $210.5 million in the prior year period. Growth was driven by increasing utilization of PSMA PET with PYLARIFY at existing customers and expansion of the PSMA PET imaging market.Sales ...