Lantheus (NasdaqGM:LNTH) FY Conference September 09, 2025 07:00 AM ET Company ParticipantsBrian Markison - CEO & DirectorRobert Marshall - Chief Financial OfficerConference Call ParticipantsNone - AnalystNoneThank you all for coming. Welcome to the Morgan Stanley Healthcare Conference. Just a quick note on disclosure. For important disclosures, please see the Morgan Stanley Research Disclosure website or please contact your Morgan Stanley sales representative. Thank you for attending the Lantheus fireside. ...

Accessibility StatementSkip Navigation NEW YORK, Sept. 8, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Lantheus Holdings, Inc. ("Lantheus" or the "Company") (NASDAQ: LNTH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Lantheus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information ...

Core Viewpoint - The Schall Law Firm is investigating Lantheus Holdings, Inc. for potential violations of securities laws following disappointing Q2 2025 earnings results and a significant drop in share price [1][2]. Group 1: Investigation Details - The investigation centers on whether Lantheus made false or misleading statements and failed to disclose important information to investors [2]. - Following the announcement of Q2 2025 earnings on August 6, 2025, Lantheus reported revenue and earnings per share that fell short of expectations, leading to a nearly 28.6% decline in share price on the same day [2]. Group 2: Financial Performance - Lantheus lowered its guidance for full year revenue and diluted earnings per share, indicating a negative outlook for the company's financial performance [2].

Company Overview - Lantheus Holdings, Inc. is a leading radiopharmaceutical-focused company dedicated to enabling clinicians to Find, Fight, and Follow disease for improved patient outcomes [3] - The company has been providing radiopharmaceutical solutions for nearly 70 years and is headquartered in Massachusetts, with additional offices in New Jersey, Canada, Germany, Sweden, and Switzerland [3] Upcoming Event - Brian Markison, the Chief Executive Officer of Lantheus, will present at the Morgan Stanley 23rd Annual Global Healthcare Conference on September 9 at 7:00 a.m. ET [1] - A live webcast of the presentation will be accessible through the Investors section of the company's website, with a replay available for at least 30 days post-event [2]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Lantheus Holdings, Inc. for possible violations of federal securities laws and unlawful business practices following disappointing financial results and a significant drop in stock price [1][3]. Financial Performance - On August 6, 2025, Lantheus reported second quarter 2025 results with earnings-per-share (EPS) and revenue figures that missed market expectations [3]. - The company lowered its full year 2025 revenue guidance from $1.550 billion - $1.585 billion to $1.475 billion - $1.51 billion, and adjusted fully diluted EPS guidance from $6.60 - $6.70 per share to $5.50 - $5.70 per share [3]. - Consolidated net revenue for the second quarter was $378 million, a decrease of 4.1%, with sales from the radiopharmaceutical oncology product PYLARIFY contributing $250.6 million, down 8.3% [3]. Stock Market Reaction - Following the announcement of the disappointing results, Lantheus's stock price fell by $20.76 per share, or 28.58%, closing at $51.87 per share on August 6, 2025 [3].

Core Viewpoint - Lantheus Holdings, Inc. is under investigation for potential violations of federal securities laws following disappointing Q2 2025 financial results and a significant drop in share price [1][3]. Financial Performance - Lantheus reported Q2 2025 consolidated net revenue of $378 million, a decrease of 4.1% compared to previous periods [3]. - The company lowered its full year 2025 revenue guidance from $1.550 billion - $1.585 billion to $1.475 billion - $1.51 billion [3]. - Adjusted fully diluted EPS guidance was also reduced from $6.60 - $6.70 per share to $5.50 - $5.70 per share [3]. Market Reaction - Following the announcement of disappointing results, Lantheus shares fell by $20.76, or approximately 51.87%, from $72.63 on August 5, 2025, to close at $51.87 on August 6, 2025 [3]. Management Commentary - The CEO of Lantheus cited intensified pricing pressure in the PSMA PET market and a strategic decision to prioritize long-term franchise value over volume at certain accounts [3].

Core Insights - Lantheus Holdings, Inc. is under investigation for potential securities fraud and unlawful business practices [1] - The company reported disappointing Q2 2025 results, with earnings-per-share and revenue figures missing expectations [3] - Lantheus lowered its full year 2025 revenue guidance from $1.550 billion - $1.585 billion to $1.475 billion - $1.51 billion, and adjusted EPS guidance from $6.60 - $6.70 to $5.50 - $5.70 [3] - The company's consolidated net revenue for Q2 was $378 million, a decrease of 4.1%, with PYLARIFY sales down 8.3% to $250.6 million [3] - Following the earnings announcement, Lantheus's stock price fell by $20.76, or 28.58%, closing at $51.87 [3] Company Overview - Lantheus Holdings, Inc. operates in the radiopharmaceutical oncology sector, specifically in the PSMA PET market [3] - The CEO indicated a strategic decision to reduce volume at certain accounts to protect long-term franchise value amid pricing pressures [3] Legal Context - Pomerantz LLP is leading the investigation on behalf of investors, highlighting the firm's expertise in corporate and securities class litigation [1][4] - The firm has a history of recovering multimillion-dollar damages for victims of securities fraud and corporate misconduct [4]

Core Insights - The article emphasizes a conservative yet opportunistic value investment approach, focusing on financial data to assess a company's health and growth prospects [1]. Group 1: Investment Philosophy - The investment strategy is fact-driven, prioritizing quantitative financial data followed by qualitative analysis to create a comprehensive view of a company's potential [1]. - The author has been investing since 2005, indicating a long-term commitment to the investment field [1]. Group 2: Engagement and Communication - The author expresses appreciation for readers and encourages engagement through questions and comments on platforms like Seeking Alpha and Twitter [1].

Financial Data and Key Metrics Changes - Consolidated net revenue for Q2 2025 was $378 million, a decrease of 4.1% year over year [23] - Adjusted net income for Q2 was $110.6 million, a decrease of 12.8% [27] - GAAP fully diluted earnings per share for Q2 were $1.12, with adjusted EPS at $1.57, both down 12.8% [27] Business Line Data and Key Metrics Changes - Sales of Polarify were $251 million during the quarter, down 8.3% year over year [14] - U.S. volumes for Polarify were up 2% year over year and more than 4% sequentially, both lower than expectations [14] - Precision Diagnostics revenue was $115.8 million, up 3.3%, with DEFINITY sales at $83.9 million, up 7.5% [24] Market Data and Key Metrics Changes - The PSMA PET market faced competitive pricing pressures, particularly from an F-eighteen competitor, leading to account losses [15] - The broader market for PSMA PET is expected to grow in the mid to high teens, while Polarify is anticipated to grow in the low single digits [44] Company Strategy and Development Direction - The company is focused on diversifying its portfolio and enhancing capabilities across the radiopharmaceutical value chain [10] - A new $400 million stock repurchase program was authorized, reflecting confidence in the business's intrinsic value and future growth potential [12] - The FDA has accepted the NDA for a new formulation of Polarify, expected to increase batch size by approximately 50% [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q2 results were below expectations and lowered the financial outlook for the remainder of 2025 [5] - There are signs of stabilization in the PSMA PET marketplace, which is encouraging for future growth [41] - The company is committed to maintaining Polarify's market leadership despite competitive pressures [17] Other Important Information - The company completed the acquisition of Evergreen and Life Molecular, which are expected to contribute to growth and diversify revenue [10] - The strategic partnerships have been effective in maintaining and growing volumes, particularly in contracted accounts [16] Q&A Session Summary Question: Thoughts on achieving double-digit growth in 2026 - Management believes it is achievable through a combination of organic and inorganic growth, with key factors including the performance of DEFINITY and the impact of recent acquisitions [34][35] Question: Guidance for LMI's contribution to revenue - Forecasting a contribution of $40 million to $45 million in revenue from LMI for the latter half of 2025, with a low single-digit dilution expected [42] Question: Timing for the new formulation of Polarify - The new formulation is expected to be commercialized potentially by mid-2026, with a focus on securing coding coverage and payment [52] Question: Impact of new formulation on long-term contracts - The new formulation will be an add-on to existing contracts, potentially allowing for a 340B price reset [55] Question: Commercial opportunity for tau imaging - The tau imaging market is expected to grow, with the potential for significant demand as it becomes integrated into Alzheimer's treatment protocols [58] Question: Share of contracted versus non-contracted business - The vast majority of the business is under contract, with strategic partnerships designed to level the playing field against competitive pricing pressures [66]

Financial Data and Key Metrics Changes - Consolidated net revenue for Q2 2025 was $378 million, a decrease of 4.1% year over year [20] - Adjusted net income for Q2 was $110.6 million, a decrease of 12.8% [24] - GAAP fully diluted earnings per share for Q2 were $1.12, with adjusted earnings per share at $1.57, both down 12.8% [24] Business Line Data and Key Metrics Changes - Sales of Polarify were $251 million, down 8.3% year over year, with U.S. volumes up 2% year over year and over 4% sequentially [12][21] - Precision Diagnostics revenue was $115.8 million, up 3.3%, with DEFINITY sales at $83.9 million, up 7.5% [21] - Strategic partnerships and other revenue increased by 32.8% to $11.6 million, driven by contributions from MK6240 and the newly acquired Evergreen CDMO business [22] Market Data and Key Metrics Changes - The PSMA PET market faced competitive pricing pressures, particularly from an F-eighteen competitor, leading to account losses and renegotiations [13][14] - The broader market for PSMA PET is expected to grow in the mid to high teens, while Polarify is anticipated to grow in the low single digits [39] Company Strategy and Development Direction - The company is focused on diversifying its portfolio and enhancing its capabilities in the radiopharmaceutical value chain through acquisitions [9] - A new $400 million stock repurchase program was authorized, reflecting confidence in the business's intrinsic value and future growth potential [11] - The FDA has accepted the NDA for a new formulation of Polarify, expected to increase batch size by approximately 50%, enhancing production efficiency and patient access [6][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q2 results were below expectations and lowered the financial outlook for the remainder of 2025 [4] - The company is taking a disciplined approach to pricing to preserve the long-term value of its PSMA PET franchise [7][16] - Management expressed confidence in the long-term strategy and the ability to execute, despite current market dynamics [11][28] Other Important Information - The company expects full-year revenue to be in the range of $1.475 to $1.51 billion, down from the previous range of $1.55 to $1.585 billion [27] - The anticipated launch of four additional radiopharmaceutical products is expected to diversify revenue streams [10] Q&A Session Summary Question: Thoughts on achieving double-digit growth in 2026 - Management believes it is achievable through a combination of organic and inorganic growth, with key factors including the performance of DEFINITY and the impact of recent acquisitions [30][31] Question: Guidance for LMI's contribution to revenue - The forecast for LMI's contribution is $40 million to $45 million in net revenue with an EPS accretion of $0.04 [37] Question: Impact of new formulation on long-term contracts - The new formulation will be an add-on to existing contracts, potentially allowing for a 340B price reset [49] Question: Commercial opportunity for tau imaging - The company sees significant potential in the tau imaging market, which could be similar in size to Polarify [52] Question: Market share and contracted business for Polarify - The majority of the business is under contract, and management has made strategic decisions to walk away from certain accounts to protect long-term value [56][61]