Lantheus (LNTH) The 44th Annual William Blair Growth Stock Conference summary

Company background and leadership

• Over 65 years of experience in radiopharmaceuticals, originating from the Manhattan Project.

• Maintains a leading position in PET imaging and radiopharmaceutical diagnostics.

• Key products include PYLARIFY (prostate cancer PET imaging) and DEFINITY (ultrasound agent), both showing strong growth.

• Expanding into diagnostics for Alzheimer's and pan-cancer agents, with a robust pipeline in both diagnostics and therapeutics.

• Focuses on manufacturing, supply chain, and commercial partnerships to scale product delivery.

Growth drivers and market outlook

• Near-term growth (2024–2025) driven by PYLARIFY and DEFINITY, with PYLARIFY expected to surpass $1 billion in sales.

• Addressable PET imaging market projected to double over five years, reaching over $3 billion by decade's end.

• PNT2002 (prostate cancer) and PNT2003 (neuroendocrine tumors) expected to launch in 2026, pending regulatory milestones.

• MK-6240, a tau imaging agent for Alzheimer's, positioned for future growth as new therapies emerge.

• Active business development and partnerships to expand the portfolio and drive innovation.

PYLARIFY’s clinical and commercial positioning

• Broad label for staging and recurrence monitoring in prostate cancer, impacting patient management in two-thirds of cases.

• Used for initial staging, monitoring biochemical recurrence, and patient selection for radioligand therapy.

• Frequency of scans per patient is increasing, especially in monitoring disease progression.

• Education of referring physicians is a key lever for market expansion, as PSMA PET currently represents only 25% of prostate cancer imaging.

• Repeat scans are becoming more common, supporting long-term disease management.