Lantheus-POINT Biopharma Ink Strategic Collaboration For Cancer Programs - Lantheus Holdings (NASDAQ:LNTH)

Lantheus Holdings Inc LNTH has licensed POINT Biopharma Global Inc's PNT PNT2002 and PNT2003 product candidates.
Lantheus will pay a total of $260 million in upfront payments between the two agreements to POINT, with the potential for additional milestone payments of approximately $1.8 billion between the two products based on FDA approval and net sales and commercial milestones.
Additionally, Lantheus will pay POINT royalties on net sales of 20% for PNT2002 and 15% for PNT2003.
The agreements expand Lantheus' radiopharmaceutical portfolio with two late-stage therapeutic candidates and, with PNT2002, broadens Lantheus' prostate cancer franchise.
PNT2002 is a PSMA-targeted 177Lu-based radiopharmaceutical therapy for metastatic castration-resistant prostate cancer (mCRPC).
PNT2002 is currently in its Phase 3 study designed to evaluate superiority to the standard of care in mCRPC pre-chemotherapy patients who have failed one androgen receptor pathway inhibitor.
PNT2003 is a somatostatin receptor (SSTR) targeted radioligand therapy with no-carrier-added 177Lu, in development for gastroenteropancreatic neuroendocrine tumors (GEP-NETs). PNT2003 is currently in a Phase 3 trial.
Price Action: PNT shares are down 34.6% at $5.98, and LNTH shares are up 0.02% at $56.48 on the last check Monday.