The parent company of contrast agent developer Lantheus Medical Imaging is planning to launch an initial public offering (IPO).
Lantheus Holdings announced on June 24 that it had filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) relating to an IPO of its common stock, under the ticker symbol LNTH. The firm has not yet determined the number of shares to be offered or the price range.
Lantheus Holdings said it expects to use proceeds from the offering to repay debt owed by Lantheus Medical Imaging, and for working capital and general corporate purposes.
Lantheus was created in 2008 when Bristol-Myers Squibb spun off its contrast agent division. The company's main products are its TechneLite technetium-99m generator for nuclear cardiac studies, Definity echocardiography contrast agent, and Xenon inhaled radiopharmaceutical for evaluating pulmonary function and for imaging the lungs.
