Lantheus Third-Quarter Adjusted Earnings Rise as Curium Merger Remains Pending

The Tip Desk · November 5, 2026 · 3 min read

Adjusted fully diluted earnings reached $1.68 a share in the third quarter, with worldwide revenue of $389.9 million.

Lantheus Holdings (LNTH), the radiopharmaceutical company, reported worldwide revenue of $389.9 million and adjusted fully diluted earnings of $1.68 a share for the third quarter ended September 30, 2026, compared with $1.27 a year earlier. GAAP fully diluted earnings were $0.33 a share, down from $0.41.

Worldwide revenue was $389.9 million, up 1.5% from $384.0 million a year earlier. That year-over-year increase followed 2.7% growth in the second quarter and 1.2% in the first.

The company recorded a $31.0 million impairment of intangible assets in the quarter. GAAP operating income fell 26.2% to $32.2 million. Adjusted operating income rose 28.1% to $153.2 million. Adjusted net income was $115.1 million.

Pylarify sales were $238.9 million, down 0.7% from a year earlier. That decline narrowed from 4.1% in the second quarter and 6.5% in the first. Neuraceq sales were $45.6 million, up 123.0% from $20.4 million a year earlier, after $39.6 million in the second quarter and $35.4 million in the first. Definity sales were $85.7 million. Strategic partnerships and other revenue was $19.7 million. SPECT revenue was zero after the January 1, 2026 sale of that business, versus $27.5 million a year earlier.

On August 3, 2026, Lantheus entered a definitive agreement to merge with Curium. Curium US Holdings LLC will acquire all outstanding shares for $102.50 a share in cash, plus contingent value rights providing for up to $12.00 a share in additional cash if specified commercial milestones are met through 2030. Total per-share consideration is up to $114.50 and total transaction value is up to approximately $8.0 billion. The board unanimously approved the deal. In connection with the pending transaction, Lantheus suspended previously issued full-year 2026 financial guidance and did not host a conference call on the third-quarter results.

The FDA approved TAUKLARIFY (florquinitau F-18 injection), an F-18-labeled tau PET imaging agent for adults with cognitive impairment being assessed for Alzheimer’s disease. The company said it intends to continue supporting Alzheimer’s disease therapeutic programs through its Pharma Solutions business while assessing the appropriate path toward broader commercial availability. The FDA also granted final approval for BRAVNETSA (lutetium Lu 177 dotatate), which the company described as the only radiopharmaceutical the FDA has determined to be bioequivalent and therapeutically equivalent to LUTATHERA for the treatment of adults with somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors. Lantheus said it is preparing for a commercial launch to support reliable supply and broad patient access.

Pylarify TruVu received CMS Transitional Pass-Through payment status and a permanent HCPCS code, each effective October 1, 2026, supporting a previously announced phased geographic commercial launch. The company dosed the first patient in the SPARROW Phase 2/3 registrational trial of LNTH-2401, an investigational GRPR-targeted PET imaging agent for prostate cancer. The Phase 3 portion is expected to enroll approximately 400 participants.

Net cash provided by operating activities was $102.0 million and free cash flow was $99.9 million. Cash and cash equivalents were $683.6 million at September 30, 2026, compared with $593.3 million at June 30. The company said it has access to up to $750.0 million from a revolving line of credit.