LNTH Stock Price Increased 9.95%: Why It Happened

By Amit Chowdhry ● March 30, 2021
  • The stock price of Lantheus Holdings Inc (NASDAQ: LNTH) increased by 9.95% today. This is why it happened.

The stock price of Lantheus Holdings Inc (NASDAQ: LNTH) – an established leader and fully integrated provider of innovative imaging diagnostics, targeted therapeutics and artificial intelligence solutions to Find, Fight and Follow serious medical conditions – increased by 9.95% today. Investors appear to be responding to the company announcing that it has acquired the exclusive, worldwide rights to develop, manufacture, and commercialize NTI-1309, an innovative PET oncology imaging agent from Noria Therapeutics.

NTI-1309 targets fibroblast activation protein (FAP), a target with potential broad imaging applicability and targeting implications in oncology. And FAP is overexpressed in the tumor microenvironment, specifically in tumor-associated fibroblasts – which are believed to modulate tumor progression and immune response. And given its expression in tumors coupled with low expression in normal tissue, FAP has the potential to become an important biomarker for precision medicine in cancer. Already a focus of significant research by academics and the pharmaceutical industry, a FAP biomarker has the potential to address unmet medical needs and to impact the clinical management of stroma-dense tumors, such as breast, colon, lung, and pancreatic cancer.

Under the terms of the agreement, Noria will drive the early clinical development of NTI-1309, leveraging its experience with early-stage imaging development. Upon completion of the Phase 1 study, NTI-1309 will be integrated into Lantheus’ portfolio of imaging biomarkers and included in the offering to academic centers and pharmaceutical companies for use in oncology drug development programs. And simultaneously, Lantheus will assess options for bringing this important biomarker to market through Lantheus-sponsored trials.

The terms of the transaction include an upfront license and development fee to Noria, certain development and regulatory milestones, and royalties if NTI-1309 is commercialized.

KEY QUOTES:

“Lantheus is committed to advancing innovative imaging biomarker solutions to find, fight and follow cancer. We believe FAP is a promising target for cancer imaging and has broad potential to inform diagnosis and staging, to guide patient selection for therapy, and to monitor response to treatment across multiple tumor types. This partnership with Noria enables us to progress this development program in a timely fashion, leverage our established leadership in imaging and state of the art artificial intelligence, and position us to monetize this biomarker offering, which has the potential to unlock deep, data-driven insights to inform R&D and clinical decision-making.”

— Etienne Montagut, Senior Vice President of Corporate Development at Lantheus

“The Noria team is excited to partner with a proven leader in imaging diagnostics with the experience and resources to advance this development program. Noria is pleased to have been entrusted by Lantheus to continue the development of NTI-1309, leveraging our platform and very experienced team.” 

— Allan M. Green, MD, PhD, JD, Co- Founder and CEO of Noria Therapeutics, Inc.