Lantheus Holdings, Inc. (NASDAQ:LNTH) Q3 2023 Earnings Call Transcript

Paul Blanchfield: First of all, I appreciate the question. Today, we’re naturally talking about the third quarter, and in due course, we will be talking about 2024. I think we’re incredibly pleased with PYLARIFY’s growth launch to date. We grew year-over-year, as I mentioned, almost 50% of what we’re able to do. The current addressable market is about $1.6 billion. But overall, we still see continued growth potential in both the near and the long term for us to be able to see continued growth. And, indeed, we do expect to see continued growth of PYLARIFY next year and for multiple years to come, but we haven’t put an exact number on that. We will naturally provide guidance as we do every year when we report our fourth quarter earnings in February of next year.

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

Operator: [Operator Instructions] And for your next question, it comes from the line of Matt Taylor from Jefferies. Matt, your line is open. Please ask your question.

Matt Taylor: Hi, thanks for taking the question. Good morning. So, this could be for any of you, I guess, but I did want to touch on point. You mentioned the Lilly deal as validation. And I saw in the presentation you were talking about doing some investments in market research and launch readiness. So I guess, maybe you could just illustrate for us what you’re doing to get ready for it? And any reads that you have from seeing the Pluvicto data a couple of weeks ago and what that could mean for POINT and your opportunity there?

Mary Anne Heino: So, Rich, I’m going to start, and then I’m going to turn it over to Paul. Because what I’d like to, I’ll say, declare right now is that we will follow the same model for PNT2002 that we did with PYLARIFY. And that is the testament to how ready we were for that market, how we entered that market, how we reacted or related with all the stakeholders in the market. We really see that as having been very successful in creating a wonderful market model that can be replicated with PNT2002. And in some ways, it will be easier, because we’re at this point now we’re already familiar with largely the entire audience, certainly with the channel. And so we will leverage all those relationships as we prepare for that launch.

Before I turn it over to Paul, he can make some more comments on our commercial readiness. I will speak to the PSMAfore data in saying that we’re glad to see data on these types of products being reported. Now certainly, there will be more data analysis by Novartis, and we are eagerly awaiting our own readout of the SPLASH data, which will be fourth quarter 2023. But we think both these modalities show great promise for the treatment [Technical Difficulty] Can everyone hear me?

Matt Taylor: Yes, I can still hear you.

Mary Anne Heino: Okay, thank you. We believe there’s strong therapeutic promise for these products. We’ll wait to see the exact data and to also, of course, analyze our own SPLASH data in fourth quarter 2023. And with that, I’ll turn it over to Paul to finish our comments about our commercial readiness for PNT2002.