LNTH - Why Shares of Lantheus Holdings Are Up Thursday
2023-05-04 11:49:20 ET
Shares of Lantheus Holdings (NASDAQ: LNTH) were up more than 11% Thursday morning after the diagnostic imaging and nuclear medicine products company reported first-quarter earnings on Thursday. The healthcare stock is up more than 84% so far this year.
Lantheus Holdings, which uses diagnostics, radiotherapeutics, and artificial intelligence solutions to help clinicians treat disease, reported first-quarter revenue of $300.8 million, up 44% year over year. The company added that it lost $2.8 million in net income, compared to net income of $43 million in the same period a year ago.
Lantheus credited the revenue rise from increased sales for its Pylarify PSMA PET imaging agent, used to detect recurrent or metastatic prostate cancer, as well as increased use of its Definity ultrasound-enhancing agent for echocardiograms.
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Why Shares of Lantheus Holdings Are Up Thursday