Lantheus Buyout Nears Close as FDA Decision on Alzheimer's Tracer Looms
LNTH has more than doubled off its 52-week low of $49.67.
Summary
The Curium acquisition of Lantheus is on track at $102.50 cash plus up to $12 in CVRs, valuing the deal near $8B. Meanwhile, the FDA fast-track decision for Alzheimer's tracer MK-6240 is expected by August 13, a near-term binary event. Q2 product details show PYLARIFY sales dipped 4.1% YoY while DEFINITY grew 5.2%, and SPECT revenue vanished from $31.9M a year ago. The board also approved $4.5M in transaction bonuses for top executives and amended severance terms, aligning management incentives with deal completion.
At the time of this announcement, LNTH was trading at $100.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.6B. The 52-week trading range was $49.67 to $111.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.