BEDFORD, Mass. - Lantheus (NASDAQ:LNTH) Holdings, Inc. (NASDAQ: LNTH), a leader in radiopharmaceuticals, announced today the acquisition of Meilleur Technologies, Inc., enhancing its Alzheimer's disease diagnostic capabilities. The purchase grants Lantheus exclusive global rights to the β amyloid PET imaging agent NAV-4694, currently in Phase 3 development and used in various research trials.
NAV-4694, known as F18-flutafuranol, is part of an expanding pipeline for Alzheimer's diagnostics at Lantheus, complementing their next-generation imaging agent candidate MK-6240, targeting tau tangles associated with the disease. Updated guidelines by the National Institute on Aging and the Alzheimer's Association support the use of protein-based biomarkers like amyloid- and tau-PET imaging for defining and diagnosing Alzheimer's disease.
Brian Markison, CEO of Lantheus, stated that the acquisition underscores their commitment to neurology and radiopharmaceutical leadership. He expressed confidence that the combined capabilities of MK-6240 and NAV-4694 would offer critical insights for novel Alzheimer's treatments.
The agreement includes upfront payment, potential development and commercial milestone payments, and royalty payments for research and commercial sales. Meilleur's CEO, Rick Hiatt, expressed optimism about NAV-4694's potential for early Alzheimer's identification and the benefits of Lantheus's expertise in bringing the biomarker to market.
Alzheimer's disease affects nearly 12 million people in the U.S., with projections suggesting a significant increase as the population ages. Lantheus, with over 65 years in the radiopharmaceutical field, aims to leverage this acquisition to advance Alzheimer's disease management.
Financial advisory for the transaction was provided by Chestnut Partners, Inc. for Meilleur Technologies, with Goodwin Procter LLP and Foley Hoag LLP serving as legal advisors to Meilleur and Lantheus, respectively.
This news is based on a press release statement.
In other recent news, Lantheus Holdings, Hawaiian Electric Industries (NYSE:HE), and Sunrun (NASDAQ:RUN) Inc. have been in the spotlight with significant gains and positive developments. Lantheus Holdings, following a recent CMS proposal, saw Mizuho Securities increase its price target to $165, while Truist Securities raised its own to $141. The company also reported a 23% increase in consolidated net revenue and acquired global rights to Life Molecular Imaging's RM2 products.
Hawaiian Electric Industries, on the other hand, attracted investors with a robust 1-week price total return of 35.4% and a generous dividend yield of 13.16%. Analysts and InvestingPro have set differing fair value targets of $9 and $13.16, respectively.
Sunrun Inc ., a leader in residential solar panels and home batteries, generated a 31.61% return over the past week. Analysts and InvestingPro have set fair value targets of $17.5 and $13.42, respectively.
These recent developments underscore the dynamic nature of the market and the potential for companies to rapidly shift their standing among investors.
InvestingPro Insights
Amidst the significant news of Lantheus Holdings' acquisition of Meilleur Technologies, investors have been closely monitoring the company's financial health and stock performance. Lantheus's commitment to enhancing Alzheimer's diagnostics through NAV-4694 is mirrored by its robust financial metrics and market performance. According to real-time data from InvestingPro, the company boasts a strong market capitalization of 8.55 billion USD, reflecting investor confidence.
Investors are particularly intrigued by the impressive revenue growth Lantheus has experienced over the last twelve months, with a 32.98% increase as of Q1 2024. This growth is a testament to the company's expansion and operational success. Additionally, the company's operating income margin stands at a healthy 35.42%, indicating efficient management and profitability.
From a stock performance perspective, Lantheus has seen a significant return over the last week, with a 56.58% price total return, and over the last month, with a 55.72% return. These figures are not only indicative of the company's current momentum but also align with the InvestingPro Tips highlighting the stock's trading near its 52-week high, at 98.82% of the peak price. Investors looking to delve deeper into the company's prospects can find additional insights and tips on InvestingPro, which currently lists 14 more tips for Lantheus Holdings.
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