Lantheus Holdings Inc.

# Signal Note: Deerfield Entry into Lantheus (LNTH) Deerfield's $84M initial stake in Lantheus signals conviction in the company's nuclear imaging and radiopharmaceutical portfolio, particularly following FDA approval of Pylarify (18F-goetnetide) for prostate cancer imaging in May 2023 and potential near-term catalyst around Dt-diaphorase-targeting agents in development. The position timing aligns with Lantheus's transition from a legacy cardiac imaging business to a higher-margin oncology-focused radiopharmaceutical company, with commercial ramp of Pylarify and pipeline expansion offering visibility through 2024-2025.