Lantheus Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Lantheus Holdings, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Lantheus Holdings, Inc. (LNTH) filed a Annual Report (10-K) with the SEC on February 22, 2024. Lantheus Holdings, Inc. filed its 2023 Form 10-K on February 22, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 331 Treble Cove Road, North Billerica, MA. Lantheus Holdings, Inc. was formerly known as Lantheus MI Holdings, Inc. The company is in the business of In Vitro & In Vivo Diagnostic Substances.

Why It Matters

For investors and stakeholders tracking Lantheus Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lantheus Holdings' financial health, operational strategies, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand the company's revenue streams, expenses, assets, liabilities, and overall profitability, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — Lantheus Holdings, Inc. shows moderate risk based on this filing. The company operates in the highly regulated healthcare industry, facing risks related to product development, regulatory approvals, and market competition, as evidenced by its SIC code for diagnostic substances and the nature of a 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Lantheus Holdings' performance and potential challenges in the diagnostic substances market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-22 — Filing Date (Date of submission)
• 001-36569 — SEC File Number (Securities and Exchange Commission file number)

Key Players & Entities

• Lantheus Holdings, Inc. (company) — Filer
• Lantheus MI Holdings, Inc. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-22 (date) — Filing date
• 331 Treble Cove Road, North Billerica, MA (address) — Business address
• 2835 (industry_code) — Standard Industrial Classification

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with extensive regulations governing the development, manufacturing, and marketing of its diagnostic products.
• Competition [medium — market]: The diagnostic substances market is competitive, with potential for new entrants and technological advancements impacting market share.
• Supply Chain and Manufacturing [medium — operational]: Disruptions in the supply chain or manufacturing processes could impact the availability and delivery of products.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date Lantheus Holdings, Inc. submitted its 10-K filing.

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 par value per share LNTH NASDAQ Global
• $83.92 — ASDAQ Global Market on June 30, 2023 of $83.92 per share. As of February 15, 2024 the
• $28 million — ogy for an aggregate upfront payment of $28 million in cash. We also agreed to purchase up
• $33 m — of common stock for up to approximately $33 million, subject to Perspective's complet
• $0.37 — e's common stock at a purchase price of $0.37 per share in a private placement transa
• $20.8 million — tion for the purchase was approximately $20.8 million in cash, which resulted in Lantheus Alp

Filing Documents

• lnth-20231231.htm (10-K) — 2372KB
• ex42descriptionofregistran.htm (EX-4.2) — 23KB
• ex191insidertradingpolicy0.htm (EX-19.1) — 126KB
• ex211subsidiariesq42023.htm (EX-21.1) — 10KB
• ex231consentq42023.htm (EX-23.1) — 2KB
• ex311ceocertificationq42023.htm (EX-31.1) — 11KB
• lnth10k-123123ex312.htm (EX-31.2) — 11KB
• lnth10k-123123ex321.htm (EX-32.1) — 9KB
• ex971lantheus-executivecom.htm (EX-97.1) — 42KB
• lnth-20231231_g1.jpg (GRAPHIC) — 147KB
• 0001628280-24-006158.txt (&nbsp;) — 12772KB
• lnth-20231231.xsd (EX-101.SCH) — 80KB
• lnth-20231231_cal.xml (EX-101.CAL) — 137KB
• lnth-20231231_def.xml (EX-101.DEF) — 314KB
• lnth-20231231_lab.xml (EX-101.LAB) — 1102KB
• lnth-20231231_pre.xml (EX-101.PRE) — 728KB
• lnth-20231231_htm.xml (XML) — 1786KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 29 Item 1B. Unresolved Staff Comments 52 Item 1C. Cybersecurity 52 Item 2.

Properties

Properties 54 Item 3.

Legal Proceedings

Legal Proceedings 54 Item 4. Mine Safety Disclosures 54 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 55 Item 6. [Reserved] 57 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 58 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 75 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 76 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 118 Item 9A.

Controls and Procedures

Controls and Procedures 118 Item 9B. Other Information 119 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 119 PART III Item 10. Directors, Executive Officers and Corporate Governance 120 Item 11.

Executive Compensation

Executive Compensation 120 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 120 Item 13. Certain Relationships and Related Transactions, and Director Independence 120 Item 14. Principal Accountant Fees and Services 120 PART IV Item 15. Exhibits and Financial Statement Schedules 121 Item 16. Form 10-K Summary 122

SIGNATURES

SIGNATURES 123 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements contained in this Annual Report on Form 10-K are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements, including, in particular, statements about our plans, strategies, prospects and industry estimates, are subject to risks and uncertainties. These statements identify prospective information and can generally be identified by words such as "anticipates," "believes," "can," "could," "designed," "estimates," "expects," "hopes," "intends," "launch," "may," "pipeline," "plans," "potential," "predicts," "seeks," "should," "target," "will," "would" and similar expressions, or by express or implied discussions regarding potential marketing approvals or new indications for the product candidates or approved products described in this Annual Report on Form 10-K, or regarding potential future revenues from such product candidates and products. Examples of forward-looking statements include statements we make relating to our outlook and expectations including, without limitation, in connection with: Continued market expansion and penetration for our established commercial products, particularly PYLARIFY and DEFINITY, in a competitive environment in which other imaging agents have been approved and are being commercialized, and our ability to clinically and commercially differentiate our products; Our ability to have third parties manufacture our products and our ability to manufacture DEFINITY in our in-house manufacturing facility; The global availability of Molybdenum-99 ("Mo-99") and other raw materials and key components; Our strategies, future prospects, and projected growth, including revenue related to our collaboration agreements with POINT Biopharma Global In

Business

Item 1. Business Overview We are the leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. We classify our products in three categories: Radiopharmaceutical Oncology, Precision Diagnostics, and Strategic Partnerships and Other Revenue. Our Radiopharmaceutical Oncology diagnostics and therapeutic candidates help healthcare professionals ("HCPs") Find, Fight and Follow cancer, with a focus in prostate cancer. Our leading Precision Diagnostic products assist HCPs to Find and Follow diseases, with a focus in cardiology. Our Strategic Partnerships focus on enabling precision medicine through the use of biomarkers, digital solutions and pharma solutions platforms. Our commercial products are used by cardiologists, internal medicine physicians, nuclear medicine physicians, oncologists, radiologists, sonographers, technologists, and urologists working in a variety of clinical settings. We believe that our diagnostic products provide improved diagnostic information that enables HCPs to better detect and characterize, or rule out, disease, with the potential to achieve better patient outcomes, reduce patient risk and limit overall costs throughout the healthcare system. We produce and market our products throughout the United States (the "United States" or the "U.S."), selling primarily to hospitals, independent diagnostic testing facilities, and radiopharmacies. We sell our products outside the U.S. through a combination of direct distribution in Canada and third party distribution relationships in Europe, Canada, Australia, Asia-Pacific, Central America and South America. Our executive offices are located in Bedford, Massachusetts, with additional offices in North Billerica, Massachusetts; Somerset, New Jersey (subject to the satisfaction of closing conditions for the sale of the Somerset facility and related assets to Perspective anticipated in the first

View Full Filing

View this 10-K filing on SEC EDGAR