LNTH - Earnings call 3 2023 | Lantheus Holdings, Inc.

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Operator

Good morning. Welcome to the Lantheus Third Quarter 2023 Financial Results Conference Call. This is your operator for today's call. [Operator Instructions] This call is being recorded for replay purposes. A replay of the webcast will be available in the Investors section of the company's website approximately 2 hours after the completion of the call and will be archived for at least 30 days.I will now turn the call over to your host for today, Mark Kinarney, Vice President of the Investor Relations. Mark?

Mark Kinarney

Anne comments forward-looking we differ to update now to then results to CEO; statements. during call we third this the most morning, today With under our and Mary and remind change even measures at website statements or then and our Paul our Bob Actual these could and also refer Mary Financial no the of uncertainties. our welcome Investors financial Anne are filings open Bob and or that detailed to of commentary cover turn will section the actual and directly press included made and call risks will Q&A.This a uncertainties. will strategic like remarks, discussion pleasure Anne would call statements, Chief our reporting the quarter lantheus.com.I provide forward-looking Commission is assume updated for also for Anne. required any my on as GAAP and to provide by will SEC include Please Heino, to Blanchfield, we due Discussions certain release Officer.Mary the applicable risks The these section is provide obligation the morning Please call comparable today's remarks may release, results our from the to these Paul note materially me today's website.It call closing of that call. guidance. our Exchange Mary measures. of Marshall, results. X-K you to call our non-GAAP with over results Form turn Good introductory begin to and which of include the slide a our to will CEO, financial during our except a update. over President measures XXXX in issued Reconciliation presentation was furnished Investors financial if materially. any a Securities to are operational variety our law expectations future and

Mary Heino

we Thank ligand Mark. reported $XXX.X agents grow XX to and proposition. market to market and Growth XX.X% million, and will for our brand clear by in efforts than market combination opportunity. for billion believe internal report value of the during terrific than more proud its $X We the preference PSMA to PSMA the quarter focused best be quarter our year-over-year support And isotope.Turning clinical PET to this XXXX. was have everyone. you position good X.X our We to our with in patients the to radiopharmaceutical and business believe market to It revenue lives potential our more and continue the $X.X impacted leader of is commercial advancing for PSMA offers billion current the combined the imaging PYLARIFY another driven We unique pipeline.I'm our our to with up Lantheus leading expand market as leading PET PSMA proprietary due PYLARIFY, the company.PYLARIFY by and addressable imaging. year-to-date. million total will F believe pipeline, was progressed morning R&D our with position the imaging development capabilities, estimate targeted

POINT the to Phase PNTXXXX increasing line ARPI.We we receptor cancer the PYLARIFY.PNTXXXX, data progress Lilly, current treat further partner and radiopharmaceutical target the forward excited metastatic with acquisition with POINT we landscape, we the of about XXXX.As fourth are pathway potential within opportunity and significant inhibitor view Eli consider proposed opportunity future to investigational the encouraged number patients PNTXXXX of of As made SPLASH is in top the see resistant product progressed another prostate of of with asset have prostate life Biopharma and treatment have castrate or in cancer following for we trial including who by our late-stage prostate sciences.In III look a candidate addition androgen our radiotherapeutic quarter have franchise. growth neuroendocrine we or from mCRPC an for our as role tumors. the cancer, exciting validation such, to designed by we our radiopharmaceuticals PNTXXXX, for PNTXXXX the remain growth and radiotherapeutic PSMA assets represents

tumor is the being opportunities.With we significant clinically target R&D Another designation recently supplement agent Alzheimer's was disease turn our asset the continue our to to of or To imaging and Fast diagnosis in staging finally, over investigational Paul. resources fibroblast Tau activation types. imaging MK-XXXX, diagnostic FDA.And FAP, is protein Track expertise by will call granted multiple efforts, to and which development targeted patients, radiopharmaceuticals that intended now ongoing investigated assist our agent I'll our the to business leverage PET

Paul Blanchfield

Mary you, good Anne, and everyone. Thank morning

prostate imaging over July August, in This in more weekly demand clinical #X growth PYLARIFY with with new accurate and value. driven healthcare delivered sector, as accounts, those in well greater reported third and by the PYLARIFY driven one seasonal June, main diagnostic reliable PYLARIFY, by and offset performance used year-over-year robust accounts high performance recognition position ordered X delivers its was activation.Sequentially, almost relatively impact carried by was this day. which attributes.First, followed a accounts, detection our which maintain rates Year-over-year trends than additional existing without again PMF During false growth. as positive agent has rate. across sales less growth the resulted to $XXX.X to by launch, million, PSMA community's PET been selling growth strong of existing October.We of cancer since expect scans consistent the attribute September, in clinical to dose PYLARIFY's holiday XXX,XXX consistent representing of We XX% quarter, and commercial because more the as

cancer. recurrent pivotal Second, in intended clinical in management change shows robust with data patients prostate biochemically

agreement including being value as PET agent F with PYLARIFY believe in trials.We which with are network, states.Widespread access PYLARIFY more supply. real the reliability the pivotal also a only by in PYLARIFY PSMA #X reader in our the XXX,XXX consistently ordered is adoption availability, PYLARIFY. XX XX multi-partner including and than backed having by to over access agent Third, convenient PYLARIFY reliable the and through PET U.S. and PSMA with experience, covered diverse, PET utilization world XX% scans that PSMA imaging proposition, and high diagnostic lives our is proven of imaging Broad market across available a supported further demonstrated of ensures commercial

forth the PSMA PET believe we leader will by in in are the July, expect CMS, or changes, separate CMS several regarding encouraged payment landscape. to proposals for developments Services, submitted including be Medicaid comments clear For reimbursement comment diagnostic to market radiopharmaceuticals.Lantheus, the for continue PYLARIFY and organizations, possible industry & for Medicare the numerous we along reasons, Centers In imaging.We these put to recent growth we future regulations, the growth the the prospects.We pass a opportunity PET innovative and PYLARIFY. FIND significant to and for publish Act, FIND of organizations regulations prostate the of outcome ensure confident all PYLARIFY's to including PSMA imaging. have access collaborate to with are status industry shortly.Simultaneously, final to CMS in Act Regardless XXXX continue cancer radiopharmaceuticals, advocacy we see patients continue of with

market have to the market we the would potential, favorable factors, XX% $X.X of by billion, X% prevalence clinical we and and PYLARIFY year-over-year. XXX,XXX in momentum grow to anticipate scans be these increase addressable Due and the than year. term.Switching benefits intermediate about this more the both see physicians pre-chemo, additional updated our is for patient prostate business. monitoring.Additionally, PET incidence sales and $X significant believe increased as both is prostate billion DEFINITY its radioligand will third realize or current the there XXX,XXX move long generated.Finally, approximately addressable imaging microbubble While X% to we of quarter mCRPC to and of remains both XXXX.To we for its to earlier population hormone-sensitive $XX.X cancer, per PSMA grow data expect estimates maintained million, total with the our we near expect lines strong therapeutics PET PSMA approximately realize to or adoption into need selection believe which imaging we up of almost for therapy, including to for patient in opportunity cancer scans

an promotional progress and increasing expanded to disease.During Alzheimer's prominent Tau to look manufacturing a also imaging top including to XXXX.We in work seen sustainable otherwise readiness commercial companies use fourth agreements assist continue work our provide to procedure streams, We with line closely clinical the study PNTXXXX with SPLASH efforts forward the establishing to volumes X stage program. program, expect signed a our known positive compassionate access enable third of to regulatory clinical Biopharma, quarter We intended agent growth.We partner, PET POINT and and as diagnosis have as the quarter, MK-XXXX we developments of for MK-XXXX, pharmaceutical biomarker. data our

agreements, is in potential and monitoring role imaging will endpoint trials.We and Tau over an patient treatments has turn be these the play could more now surrogate that With to for treatment selection believe a Bob. MK-XXXX XX active being used efficacy.I now additional in than for call important clinical to the staging, future

Robert Marshall

XX.X% $XX.X holiday as quarter. and of as for by X was $X.X an pharma to with of $XX.X the revenue MK-XXXX prior seasonal and over Thank beginning the and consistent contributed year million, $XXX.X million, oncology. increase driven noted due will year for revenue to quarter, prior prior at the adjusted highlights third increase $X.XX, on XX% you, within $X.XX up third fewer PYLARIFY was from per XX.X% focusing for mainly growth results of higher $XXX.X diagnostics Paul, TechneLite prior the share The $XXX.X the of other adjusting unless partnerships over and $XX.X milestone noted.Revenue was the primarily year-over-year up strategic morning. revenue the or year.Turning revenue were sales.Lastly, the prior $XX.X year, the day with opportunistic recorded solutions. million financials, quarterly by quarter was year compared I million, million, with radiopharmaceutical now revenue X.X% an million sequential million, Earnings XX.X% from quarter when of up details, of third and category X.X% were in to million, quarter. or good Paul.Precision provide otherwise period. the dose DEFINITY quarter impacts from Sales a billing

sold points XXX profit rights net over RELISTOR XXXX associated to with expect was the on the reminder, similar and for licensed margin the potential intangible milestone As any future revenue further basis. midyear recording a sales payments.Gross of increase don't be of any a royalties basis to quarter quarter an the XX.X%, asset third with of third we our exception

mix of investments to product As by quarter relate increase net is to margin enterprise the over to increase XX at resulting we line effective an the gain quarter, an expenses for million a led other the commercialization adjustments $XX.X market within expense incentive the and on Total recent research The by on expense amount, the before million in PYLARIFY year track the awareness nonrecurring to of related the adoption, acquired as $XX.X as guided sale.Operating totaled employee remainder the mainly remains the million is of has intangible asset profit the been the sale with and year. XX million, on risk offset year-over-year respectively.Also $XXX.X prepare attributable quarters, share to net million on DEFINITY, and are favorable PNTXXXX, in million The is increases efforts the were for implementation, adjusted of year RELISTOR amortization, of branding, and $XX.X third quarter. driving expenses.Our income quarter. increase same unfavorable to RELISTOR associated basis and engagement.Adjusted turning over and the prior tax revenue noncash continues income case royalty on in XX.X% period plans stock this year in cash recorded $XX XX.X% of and headwind quarter $X.XX operating points basis overall levels.Commercial in PYLARIFY $XXX.X management our XX% net an and higher the were expense in royalty analysis XX.X% was on cyber, quarter.Now taxes. expense. dollar investment other with of ERP points of launch ramping readiness.G&A asset prior of absolute of due compliance, which focus the of increase volume rate was an partially was which previously of to flow. diluted alongside over earnings per basis, from prior earnings and the adjusted inclusive XX.X% basis, $XXX.X GAAP well million for reported and in an $X.XX an quarter income and $XX.X a Of prior and and basis, fully acquisition million

quarter, year from the the activities.Cash was to $XX.X the in now of $XXX.X $XXX.X from $XX.X RELISTOR operating company at line has cash as Third QX net an net quarter expenditures, totaled net cash royalty increase with million, flow million, expenditures of in recorded stands was flow sale asset in of period.During cash flows the the proceeds prior compared define million restricted amount million, equivalents investing $XX.X as capital Free Capital received less which been we expectations. cash operating cash $XX.X XXXX. and over flow, cash in million million $XXX.X million. which

strong revolver are position.Turning million for full the undrawn $XXX our We very to guidance now continue updated our to with our have year. liquidity access bank comfortable to and

the We Adjusted in million me $X.XXX to continue the its In $XXX the $X.XX our of to PYLARIFY range the million.Turning we DEFINITY to range quarter, from that, to was $XXX $X.XX to the case to billion revenue EPS $XXX the let Mary $XX to of rather million to a $X.XX.With range billion. range million in over we revenue are $X.XX revenue $X.XX MK-XXXX expect million contribute range to prior tightening $XXX will to million now expect prior of so, million.As $X.XX our than the to be end and prior $X.XXX of back momentum turn call estimate last earnings. of of to are $XX to of billion versus be full lifting lower prior doing guidance year from billion also Anne. $XX

Mary Heino

you, Thank Bob.

commitment Our position our remain were differentiated and resources better third by believe quarter excellence and go our commercial capital fight to ahead. market-leading leading that, radiopharmaceutical growth Lantheus products. follow capabilities, now innovation and as results please driven We the of deliver significant I take our patient to questions. to Bob, focused company Paul disease your we to are work and to find, ready Operator, outcomes.With the

Operator

Our of [Operator Leerink. comes question, Ruiz the it from Roanna Instructions] from line first

Roanna Clarissa Ruiz

would over new into $X was added be the assumptions in I among to market the future of your scans So addressable billion, going many curious total largest are drivers of what terms assumption how how XXX,XXX just the with new the scans, along you competition strategies build PYLARIFY think in mentioned considering PET forward? up to growth on for your there And I PSMA call. are you going

Paul Blanchfield

Thank Sure. Happy for you question. to the take it, Roanna.

So, about addressable billion. yes, equates about we which the you we a could current We've noted, heard this of raised investors' potential -- what that's market, your to about as and and you $XXX,XXX, estimate feedback year, think be. had of future $X.X the

therapy line see scans.On the earlier treatment into effectively into we the today highlighted to third the addressable morning, would from radioligand this And driver market, so presentation XXXX be as or from and setting estimate of first otherwise of XX,XXX which group. would scans patient, as the monitoring known scans.It's hormone and sensitive would cancer therapy. And, pre-chemo, of therefore, approximately radioligand per prostate relatively for more well number scans line eligible a patients consistent XXX,XXX metastatic for increase potential selection patient there line you'll about we've be XXX,XXX total by second is growth post-chemo expansion that the investor to but the of largest lines as

PYLARIFY be of in and in of PSMA there, the to we're over commercial potential then promote excited to clinical the on value frame, $X in their XXXX would And our proposition the of number assumptions.And see particular. many men naturally and But as and X% well continue we'll so continue market there's in our to we to we over to which finally, the we the coming be driver potentially say greater highlighted we the of that and believe therapeutic continued approvals staging intermediate as year. that's incidence expectation PET second is the in based us come. really we setting, biggest future And so that a to favorable this as radioligand per has prevalence by have belief looking which years imaging where patient the overall penetration today lifetime including a increases PNTXXXX.The slight market metastases, that driver also longer, in makes to populationAnd which some years, suspected that's with the X% largest driven overall initial that we billion to assumption time, uptick for the for marketplace, by that and recurrent out time scans is live incidence this per about the be can XXXX expect incredibly into really an about and leader

Mary Heino

X Paul with of which many that back you on will the in are shared outlined want this of just our of on more and for deck those points. used comments to that refer if Roanna website the Slide we data be also call

Operator

question, line from it Truist comes Securities. next from Richard the Your Newitter of

Richard Newitter

Congrats on TAM. for the the increased detail and addressable a on solid quarter, thanks

the So, are out guess a as not lot PYLARIFY over overnight.So accessible, I $X.X 'XX pointed of but guess, to that next expanders of just Paul, 'XX, $X the as look the billion question front the initial billion grow there I just be from there expanders billion runway you is year. time, had highlighted to you is, to 'XX to go going obviously, these, all frame I $X.X of we TAM at enough time with end at TAM to and

next And point? for consensus single-digit about just that see the to growth I'm million. a think looking in PYLARIFY? looking is can is, we growth, starting $XXX year I high expect reasonable --

Paul Blanchfield

we quarter, naturally the I all, XXXX. be talking the about we're third in due Today, talking about and of course, appreciate will First question.

the is growth billion. grew $X.X continued years with continued put growth of I almost to potential do see on mentioned, we us overall, near pleased PYLARIFY's see both still long and we able haven't that. PYLARIFY current year be growth.And, of incredibly what do. the in come, XX% indeed, we're But exact number to an think date. launch and we market to term see year-over-year, I able to The to we're We but addressable as expect growth continued to multiple next for for about

February fourth our we We provide every do year guidance will in naturally we as next report earnings quarter year. when of

Mary Heino

the Roanna's Paul say. in Rich, for as imaging, just and have And A pool certainly estimate still PYLARIFY, new we'd heard We especially would very of continue number would PET based patient patient of answering populations to is we question add, see lot number also into really point you what per clinical physicians the of as for growth you to using I heard patient. one appreciate a conservative of scans the expect the PSMA consideration. on scans grow. coming But utility to per with outlined

Operator

from your question, Jefferies. line for Matt comes it next And of from the Taylor

Matthew Taylor

this But did for could I guess. So point. touch to I want any you, on be of

validation. doing you about presentation Lilly the investments some were readiness. You launch talking deal the research And mentioned in I saw as in and market

I of So you and data ago the your And you're couple POINT you Pluvicto that reads what weeks what from ready for for opportunity us there? have for illustrate guess, just could mean a to it? get could and maybe that any doing seeing

Mary Heino

is that PNTXXXX. over channel. testament we're entered with turn I'd with a entire it all with creating will this market.We PNTXXXX familiar with be to, wonderful or very and were the see what we start, Because having same follow successful that how how did right declare will point the ready that for already at related certainly in audience, to the because the as And to for been we in to that is going now we ways, that be I'm we stakeholders how say, with And I'm in it model the PYLARIFY. like that market, that market some can we to now reacted really the replicated largely easier, going we're model Rich, then Paul. market, I'll

reported. it those make more as speak see that some commercial all And glad prepare relationships will saying so for over we're the readiness. that can types our we to in I data he turn products data of leverage Paul, will on PSMAfore on to being these comments we I launch.Before to

own Now more But will awaiting readout XXXX. are be the we great which will certainly, to modalities fourth Street both there data, quarter Novartis, and analysis these by SPLASH be data the think of promise we eagerly our -- show

Matthew Taylor

then And I'll follow-ups. of have -- plasma couple a system.

Mary Heino

We commercial finish data to these promise turn in believe our SPLASH to there's fourth for strong analyze our over our course, of I'll the And for products. wait own see with quarter PNTXXXX. about Paul also, XXXX. to and We'll comments exact data therapeutic to that, it readiness

Paul Blanchfield

the Thanks, Mary for Anne, and thanks Matt. question,

continue with to work across as across So regulatory, well highlighted we as commercial manufacturing POINT clinical today, readiness. as and

understand It that is so are this.I of traditional things, we closely, on of our ready to the research include from market POINT to colleagues focused market, a working a it's of launch naturally with for supply integrated ensure market patient is also And a chain. fully we number are side mapping. commercial on note work. daily radiopharmaceutical while that, PNTXXXX. also we're It's indeed would the reliant bringing will effectively That understanding to a best-in-class

with and and kicked Lutetium is we working treat into with to in be got ready customers product mix.And them to get in able potentially number the would activities XXXX, to off understanding of And be and also continue a so so beyond. we've that our expect able another to have XXXX to there

Operator

your next the Petrone line Anthony from Group. for And from Mizuho comes question, of it

Anthony Petrone

versus PMTXXXX expectations one Congratulations Novartis there Maybe sizing PNTXXOX, quarter. that sized there? the just wondering the opportunity if the has out but market you an outlook PYLARIFY, on could the just you provide and on on

Mary Heino

I therapy. offer would of because the going deck as being categories we released, over just to turn it again, who point Slide are for one commentary. radioligand I'm So #X those to you patients the to does to that Paul candidates that in to speak But

Paul Blanchfield

the Anthony. question, for Thanks

overall year actually That at out we number, we when said highlighted investor the was Bob announced we an and previously have we said not So in potential while this would full patients year is, with had and bigger. as for for $X formally therapy U.S. approximately last radioligand their potential mCRPC substantially we sales I seen billion. year-to-date, PNTXXXX Pluvicto put would we've that they What first both conference approximately billion could public say $X.X since September, we recently, in that a be be market the doing market, in collaboration.What even with is new their, the supply and in POINT highlighted challenges they where discussed think add that they the effectively were have the their patients.Indeed, now earnings number actively updated we've call, new we've recent not that that believe, are patients. able noted in they to adding I on

pre therapeutics is incredibly excited PSMA the SPLASH mention post of trial the as data product $X and opportunity full significant when sharing ourselves effectively our a its well line to we it's that forward third without this, line there post-chemo full first to are POINT year a supply, expand fourth billion so for setting the do as partners not we or only is on about, in for an look think and the so this And that potentially top quarter to in substantial market to opportunity we chemo, in in post-chemo.And demonstrates XXXX. we think

Anthony Petrone

the basically that PYLARIFY umbrella, maybe solutions? us little It play same the existing to PNTXXXX, out. how would if you follow-up contemplate quick bundling And is sales to synergistic bit one just be just PNTXXXX assume looks a would PYLARIFY synergies. would And approved, go-to-market under force? on would we maybe X If be those and

Paul Blanchfield

the for Anthony. question, Thanks

for a and a so advantages because that therapeutic with reasons naturally PSMA a believe of that natural have maximize synergies in to you was POINT recognizing I fall last would indeed, was I franchise PSMA diagnostic.And be PSMA robust a the to scanned a so call Lantheus benefits need are it why one diagnostic to to collaboration certainly market fit we announced having a work well agreement.And of having certainly, therapeutic, order there's as this, -- think for I when that think do we advantages that of And we includes as be position. eligible or our do both, there That together PSMA be going with And to to therapeutic versus under a if and the adequately to of PYLARIFY ensure of we awesome for brings. invest potential have points, we significant ensure call continue to potential urology going to able distinct support we're be we recognize that said, needs PNTXXXX recognizing therapeutic the potentially as franchise to for to as one and there customers. a we're specifically as well that are diagnostic. able that But well you it comparable oncology. as medical to they're invest launch will, therefore, PNTXXXX that conversations support the also a market

Operator

from Hsieh William from Andy the Blair. comes line next question of Your

Tsan-Yu Hsieh

to want ESMO dynamics. seems to to like submission of apparent And pre-chemo door the data coming the potentially and detriment make the with the when in open to leapfrog internal survival a ask you I overall on hazard to of PNTXXXX wait has setting? until regulatory the Novartis filer a continued on out X.XX. for as It execution. pipeline, the about decision first due does Novartis that look ratio at Congratulations XXXX

Mary Heino

it's So both products. be point to impossible estimate regulatory the lines will at this time filing what for

data these to And that to it willing compare for and to the open accessible that attitude these and what that the As forward in FDA of a awaiting I we'll I modalities as there are as we're looking the and more SPLASH Once to patients.And data. have that is products. time say making very think is market. strategy we to will be I we regulatory I data said, XXXX, available our readout and something we've SPLASH on also very will noted, we regulatory to seeing eagerly of and would repeatedly, again, both see think strategy.What treatments are have is and able form it, the focused our PSMAfore fully all that inform quarter think, we're the really bring line to both confident, we Novartis I these fourth and

Operator

Walsh question, line it from comes Your next Justin of the from JonesTrading.

Justin Walsh

It but can contextualize mid- I'm might little early the solid if help get a for answer wondering you an how to on asset market MK-XXXX. a be potential long-term view to the this, size like of you

Mary Heino

a patients is important well. MK-XXXX as that very basis, highly Alzheimer's an really think and figure million I and their what patients Alzheimer's the us. where and market will reasons that of look it agents importantly, then imaging Tau clinical and one very a X.X now, helping the for there. diagnosed, more candidates with not time But population there their a to that that imaging staging what's progress We would they some for annual of we advantages say development of data, market.Just but to in great is analysis dollar are the agent note, around potential stage are emerging And can And communities, impressed company versus that and for Tau therapeutic or are very, question prevalent at the I Tau willing be mind say, on under are also really be. while only many the in and approved. performance they in role see we is not were size a their not offers to that line.And what scientific still of again, what only imaging the we give top great as and amyloid are happening about That patients.And who in consideration disease wonderfully I'm diagnose where market their in will infers with of it we in kind the of are

market, and large having the we it. thrilled about very opportunity are to a serve it's So really

Operator

Solow comes Your from line it from of Lawrence question, the next CJS Securities.

Lawrence Solow

accounts. follow-ups. my but of growth Can growth, us yet. new that? your existing couple sequentially. the slower of you you you you mentioned a in still answered. Can Just from PYLARIFY, an too, accounts year-over-year expansion. where us have there? of on mostly kind questions stand PMF of Most But just of an reach lot around a give thoughts haven't us on on it's also, accounts you scorecard give Obviously, you give that update out update of of some -- sort reached said and been you mentioned you terms there's just of existing And Paul, Can sort a new facility potentially just little coming and to

Paul Blanchfield

Thanks, Larry. the question. Appreciate

our PMFs have access is in is, that's XX or billion, if market additional breadth going of government the facilities as freestanding offering we commercial room still meaning activation scanned were where approximately and some have So is quarter-over-quarter in PET and growth market the by majority this some not many offering a to too the referring community. existing activate $X.X accounts annualizing year-over-year, And look broader are a not radiation a of existing continue centers, out be they growth do our imaging, to who we PSMA have That to to and be, that accounts time which and and patient for already adopted we compare activation we that driven significant the requested intended may would that the we to speak by that driven hospital make inform to understand is distinction, be activations. 'XX, see new adopting. accounts plus to frequency to of evidenced currently add. certainly we accounts vast continue There is continue clinical that label sequentially, on call those certainly that in was was medical of data, PMFs, quarter the whereabout sort to existing continues be forward. the management. areas just going third forward.Really, to could significant In regularly by and where would space.The will be name.The for benefit already that be target new of if vast growth imaging where we've that physicians, can where referring to specifically patient benefits If going effectively can to is PYLARIFY or this that by important. driver in them geographic where and potential clinical into growth minimis mobile understand XX activated.We the think kind would not diagnostic, been additional well accounts. activate due the future, there as PMF oncology, truly able in PSMA we the facilities they be practice the of are to the we oncology, of will real be been imaging continue whether be management this de dose for last work the it timing year But 'XX made urology, of being majority I PET small accounts the our geographics that has to PMFs, or just there's of over of change type third support as growth quarter ensuring have But either patients flexibility the

Operator

it from B. of line from Riley. Yuan Zhi question, comes Your next the

Yuan Zhi

cost please mean and clarify agents a on cost average? or setting of Congrats the setting. hospital the of procedure scan on the the quarter. total you Can outpatient I PSMA in the PET either

Paul Blanchfield

all, first may of to the follow-up cost question I vary. you, the procedure ask certainly thank for of is going question. total will. you if Yuan, a the But you to

the the center, are the of about a there procedure be scans, certainly if So and PET think cost vast other imaging cost academic X of X available. other Commercially, hospital are PSMA a naturally then or would agents to agents majority agents of which and there's either the tracer, for relatively you effectively commercial close freestanding priced together. PYLARIFY a

be of the then an which there's consistent is. to cost then for of the scanner, fixed cost last associated estimate is, across that different And dollars, so that with is will the usually adopted PYLARIFY many I PET/CT and center of And investment support to And scanners and procedure, answer the at of come better cost what marketplace.Now there's serve been otherwise. but I them. number benefits That fairly know years. PET/CT have think that's imaging of we look to the I staff the for this is in estimate marketplace to if cause referring patients increasing that's can't has in to about question. don't the overall, to hospital.But they number we've each PET/CT a decades. even grow. able seen the a It institutions and associated the when think to a continues going what millions the naturally that that be they helps physicians that

Mary Heino

would in that PET that built market, in United the built the is I FDG whole what the market. by especially scanning add, just States oncology, really market was one,

as PET of be well it's are it's by it aspects with may financial So well that tracer would they but the built product. Because, products, different understood, -- offering each I out, the across noted, while associated a think art medical and be be Paul scan it the different. then well would of different also similar the are cost

Operator

comes Your JMP next line question, Securities. of it from from David the Turkaly

David Turkaly

cost then that dollar just Maybe there selling quarter. for seasonal impacts what at in Is the some real on put the the looked you out holiday amount But X could pointing for and in one less Bob. if we any quarter? you trends, a quick an way think the Thanks you approximate day. of the like the

Robert Marshall

to of rate. that, answer I'll growth by way maybe David, normalizing or adjusting is The sequential the sort

we something look you which QX language the we QX of quarterly then we we case and quarter they're QX, Labor sequential use to if that pointed get holidays, look we see to from of coming and the X Year's.But out now particularly out again QX, this, make that, if Because and impact implied why kind of be rate we the growth to we very the similar the you last July the the then around and New of of it adjustments, at all between guidance, would rate. rate have will sequentially and this consistent the the digits we you going in and if highlighted, is when in week And we Christmas to rates. from Day. to So see expected if a that Thanksgiving do growth kinds growth then growth adjusted things at would in and the QX impacts see increasing will, sort mid-single

Paul Blanchfield

David, maybe I'll just add.

an weakest consistent And for XX-plus and past year. been at XXX%-plus the also able was growth, taking growth will. and necessarily with growth July look think the sequentially. of when the remarks, last always accounts, years, was may where to down the and of our that because But continue financials, sequential and weeks, prepared September as QX I at look year PMS, QX we lowest levels procedural-based stick our other on relatively And look you the new as is historical out. to much if on growth weekly out you reporting in and more example, relatively you been at a what July even that activating quarter I see have trajectory August August and organizations, as we September which that But slow.Now we've to PYLARIFY doesn't of new at if at August depicted quarter had holiday where the our industry.Indeed, we consistent October. not the third we adding believe are of at not across to that's we highlighted volumes our couple the the the the see have dynamics quarter, years, June, sequential basis, may growth is saw DEFINITY,

with just so consistent And highlighted. that's what Bob

Operator

Roanna Leerink. have we from question And a follow-up from Ruiz

Roanna Clarissa Ruiz

Just not the last last I think it to I quarter? mentioned current But quarter a heard was relative me. the have it XX% quick in I'm for market on sure quarter the share one around call. for you penetrated. if PYLARIFY

Paul Blanchfield

it. mentioned not had We Roanna. Thanks,

of quarter, PYLARIFY only leader at in X quarter report was do commercial question. gotten have imaging overall, over agent We scans added PET remains consistent now I was I launch.We our players market the the and relatively the XXX,XXX think XX%. the approximate, relatively Overall, since that share term number X we PSMA But approximately one believe clear not believe revenues. recognize we actually use minimal. the that in the competition impact PET PSMA with

$X the highlighted clinical by ensure many significant continue market the clear by growth as billion also to potential to proposition continues our as XXXX And the so years plus that and we that grow for potential as continued are and commercial PYLARIFY well to will leader comfortable remains value come.

Operator

a follow-up Rich. have from We question

Richard Newitter

and that reacceleration didn't -- at XQ midpoint maybe and think Bob, or mentioned softer the your What which holidays the just just which seasonality than that because XQ? curious, that holiday July-August helpful. those actually XQ comments quarter-over-quarter close have had it some pickup, But it for impact, the Thanks July-August assumes have to PYLARIFY, rate.But day guidance drives X% there? weak you of still more I'm PYLARIFY just a or weaker is I between selling it's XQ. curious, issues growth I'm offsets updated on or show you you a

Robert Marshall

holiday docs well. can what is informing those similar. Again, from seen Paul, see, trends seen those a our in we've perspective, you return provided And recently which I one, range. jump with also is from for we've think on this you But to patients the to of think not visibility we guidance what does a really return And selling back consistent dose a as fairly when we're to course, you if you and that will, been not recent more we've are pleased see do volume QX day into summer.So get look health once I you And you Once like. that across periods the a and to a perspective, care. work look include again as the that -- can holidays. adjusting, that broader after summer range post seasonality pickup QX docs

it only impact. that holiday would So be the

Paul Blanchfield

a add. to more I don't have lot

of We think post-holiday period. I and out seen the saw we've robust it coming summer growth. the

October. that into I seen we've continue highlighted, As

techs As people the holiday finished finished traditional summer and offices, are period. have others doctors back and the doctor's have to

Christmas into are and and week that well as takes impact understood seen industry. November we've the account as guidance our so the in that And well

Mary Heino

much market. people, launch a will still just are And and to are wonderfully in we remind very to And getting I we the continue year. know add, I'll

total day, then X As QX of you in available less vacationality equal QX rebounds with clear is, appreciate to life math sciences selling similar be of both a days QX.And see, the versus some to QX, just had does lot what impact the Bob third number now was of what we but that similar we DEFINITY has to quarter optical on and procedures full and QX. and saying Bob number heard that selling other to see referred in that of to, companies that

will QX. there on So of for no be based impact number selling days

Operator

are there at thank ladies So the time, conference.This and presenters, participating and no further program. this and for questions gentlemen, concludes in today's you

Mary Heino

everyone. you, Thank

Operator

day. may a you And disconnect wonderful now and have

Lantheus (LNTH) 2 Nov 232023 Q3 Earnings call transcript