LNTH - Lantheus climbs despite earnings miss as outlook exceeds estimates

Lantheus Holdings (LNTH +13.5%) shares have reached a four-month high in morning hours despite lower than expected earnings posted by the company for Q3 2021. However, its updated outlook has exceeded the Street forecasts, The North Billerica, Massachusetts-based healthcare supplier has set its 2021 guidance ahead of analyst forecasts. Worldwide revenue for the quarter grew ~15% YoY to $102M, driven by increased demand for PYLARIFY PSMA PET imaging agent. However, net loss has more than doubled with ~110% YoY growth to reach $13.4M as general & administrative expenses climbed ~57% YoY to $28.6M. CEO Mary Anne Heino highlighted the impact of COVID-19 on some of the company’s businesses. “Although COVID-19 continued to impact some aspects of our business, we were able to grow our three largest products – DEFINITY, TechneLite and PYLARIFY,” she said. For the full year, the company has revised up its revenue guidance to indicate $405M - $410M

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Lantheus climbs despite earnings miss as outlook exceeds estimates