Microvast Holdings announces departure of chief financial officer
BEDFORD, Mass. - Lantheus Holdings, Inc. (NASDAQ: LNTH), a company specializing in radiopharmaceuticals, has announced plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for its tau PET radiodiagnostic, MK-6240, in the third quarter of 2025. The decision follows successful outcomes in pivotal studies evaluating the sensitivity and specificity of the diagnostic tool. The company, currently valued at $7.13 billion, has demonstrated strong financial health with an "EXCELLENT" rating according to InvestingPro analysis, supported by robust gross margins of 64.4%.
MK-6240, also known as F18-florquinitau, is designed to detect tau protein accumulations associated with Alzheimer’s disease and other neurodegenerative conditions. Meeting co-primary endpoints in two critical studies, MK-6240 has shown promise as a diagnostic agent that could enhance the precision of Alzheimer’s diagnoses and improve disease management.
The company’s Neuroscience Medical Director, Luca Passamonti, MD, PhD, emphasized the significance of visualizing tau pathology, suggesting that MK-6240 could bring a transformative change to the diagnosis and treatment of Alzheimer’s disease. Lantheus CEO Brian Markison expressed confidence in the potential of MK-6240 to align with the latest scientific advancements and support the evolving diagnostic landscape for neurodegenerative diseases.
Lantheus acquired MK-6240 in 2023, and it has since received Fast Track designation by the FDA. The compound is currently being used in over 100 active clinical trials and is anticipated to assist in earlier disease detection, patient staging, therapy selection, and monitoring.
The development of MK-6240 complements Lantheus’ other Alzheimer’s diagnostic agent, NAV-4694, which is in Phase 3 development. Together, these agents could position Lantheus as a leader in radiopharmaceutical innovation for neurodegenerative conditions.
With an estimated potential market of over 400,000 scans and $1.5 billion by 2030, the U.S. Alzheimer’s Disease radiodiagnostic market is growing. The prevalence of Alzheimer’s disease and mild cognitive impairment in the U.S. is nearly 12 million people, a number that may increase as the population ages.
This article is based on a press release statement from Lantheus Holdings, Inc. Investors should note that the company is scheduled to report its next earnings on May 7, 2025, which could provide further insights into the development progress of MK-6240 and other pipeline products. The company trades at a P/E ratio of 22.9, reflecting market confidence in its growth prospects.
In other recent news, Lantheus Holdings reported a strong fourth-quarter performance for 2024, surpassing analyst expectations with earnings per share of $1.59 and revenue of $391.1 million, exceeding forecasts of $1.55 and $377.24 million, respectively. This performance was largely driven by robust sales of its flagship product, Polarify, and a gross profit margin of 68%. The company also announced its acquisition of Evergreen Theragnostics, enhancing its radiopharmaceutical portfolio with Evergreen’s OCTEVY™, a PET diagnostic imaging agent, and additional manufacturing capabilities. This strategic move is expected to bolster Lantheus’s position in the oncology market. Furthermore, Mizuho Securities adjusted its financial outlook for Lantheus, lowering the price target from $150 to $140 while maintaining an Outperform rating, following the company’s earnings report. The analysts noted Lantheus’s ability to navigate market challenges and highlighted the company’s guidance for continued growth in its Pylarify product line. Lantheus’s financial guidance for 2025 forecasts revenue between $1.545 billion and $1.610 billion, with expectations of sustained growth driven by its expanding product portfolio.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.