Lantheus ( NASDAQ: LNTH ) and its affiliates entered agreement with Radiopharm Theranostics - a developer of diagnostic and therapeutic radiopharmaceutical products. Lantheus ( LNTH ) has agreed to make an initial equity investment of A$7.5M ($4.
99M) and will have an option to invest a further A$7.5M ($5M) within 6 months on the same terms. Additionally, Radiopharm has agreed to transfer two of its early preclinical assets to Lantheus ( LNTH ) for A$3M ($2M) pursuant to a separate transfer and development agreement.
The offer price for the shares of A$0.05 represents a 47% premium to the last closing price of $0.034 on 19 June 2024.
The net proceeds of Lantheus’ investment will be used by the company for drug manufacturing, clinical trials and general working capital. More on Lantheus Leading The Growth Of Radiopharmaceuticals: Mini Deep Dive On Lantheus Lantheus Holdings: Powerful First Quarter Lantheus Holdings, Inc. (LNTH) Q1 2024 Earnings Call Transcript Lantheus Q1 2024 Earnings Preview Seeking Alpha’s Quant Rating on Lantheus.