Lantheus Holdings reported a significant increase in worldwide revenue in the third quarter of 2024 over the third quarter in 2023.
For the period (end-September 30) the company posted $379 million in revenue, up 18.4% from $320 million in the same period last year, citing strong sales of its F-18 DCFPyL (Pylarify) PET imaging agent for prostate cancer. Sales of Pylarify were $259.8 million for the quarter.
The company also reported an adjusted net income of $124 million, up 20.4% from $103 million in the same quarter last year. It said its operating income increased 19% to $133.7 million.
In addition, Lantheus said its cash and cash equivalents grew to $866.4 million at the end of the third quarter, compared with $713.7 million as of December 31, 2023, even after accounting for a $35 million net investment related to the acquisition of RM2 from Life Molecular and a $5 million equity investment in Radiopharm Theranostics.
