Lantheus Holdings reports $22.37 million net income for Q3 2026

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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The registrant had 65,272,369 65,401,413 shares of common stock, $0.01 par value, outstanding as of August 3, November 2, 2026.

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Exhibits 38 changes

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Common stock ($ 0.01 par value; 250,000 shares authorized; 72,506 72,614 and 71,827 shares issued; 65,265 65,373 and 64,586 shares outstanding at June September 30, 2026, and December 31, 2025, respectively)

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Treasury stock at cost; 7,241 shares at June September 30, 2026 and December 31, 2025 respectively ( 477,438 ( 477,438

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Net loss (gain) on investment in equity securities - unrealized loss (gain)

Loss (gain) on sale of business, net of transaction costs

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Income tax (benefit) expense

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Six Months Ended June 30, 2026

Nine Months Ended September 30, 2026

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Six Months Ended June 30, 2025

Other comprehensive loss

Stock option exercises and employee stock plan purchases

Vesting of restricted stock units

Shares withheld to cover taxes

Stock-based compensation

Balance at September 30, 2026

Nine Months Ended September 30, 2025

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Other comprehensive loss

Stock option exercises and employee stock plan purchases

Vesting of restricted stock units

Shares withheld to cover taxes

Repurchase of common stock

Stock-based compensation

Balance at September 30, 2025

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Impairment of intangible assets

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Unrealized (gain) Net loss (gain) on investment in equity securities

Charges incurred pursuant to acquired in-process research and development ( 5,577 24,620

Long-term income tax payable and other long-term liabilities ( 3 11,168 ( 2,754

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Other current and noncurrent assets

Other current and long-term assets

Accrued expenses and other current and noncurrent long-term liabilities ( 2,619 28,932

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Milestone payments related to prior acquisition

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Acquisition of Lantheus Biosciences, net of cash acquired

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Acquisition of Lantheus Biosciences, net of cash acquired

Principal payments from notes receivable

Proceeds from sale of equity securities

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Payments for minimum statutory tax withholding related to net share settlement of equity awards ( 17,797 21,217 ( 24,481 25,240 ( 100,000 200,000

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Effect of exchange rate changes on cash, cash equivalents and restricted cash ( 47

Net increase (decrease) in cash, cash equivalents and restricted cash ( 217,224 530,782

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Contingent consideration liabilities related to the acquisition of Evergreen acquisitions

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Note 1: Basis of Presentation 1 change

The accompanying unaudited condensed consolidated financial statements include the accounts of Lantheus and have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement have been included. The preparation of the Company's condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenue and expenses, and related disclosures. The results of operations for the three and six nine months ended June September 30, 2026 and 2025 are not necessarily indicative of the results that may be expected for any future period.

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Note 2: Summary of Significant Accounting Policies 1 change

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In July 2025, the FASB issued ASU 2025-05, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets," which provides a practical expedient related to the estimation of expected credit losses for accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers." ASU 2025-05 requires an entity to disclose whether it has elected to use the practical expedient. An entity that makes the accounting policy election is required to disclose the date through which subsequent cash collections are evaluated. The

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Note 5: Income Taxes 3 changes

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Our effective tax rate for the six months ended June 30, 2026 differs from the U.S. statutory rate of 21 % primarily due to state income taxes, partially offset by the non-taxable change in fair value of contingent consideration.

Income tax (benefit) expense

Our The Company's effective tax rate for the three months ended June September 30, 2026 differs from the U.S. statutory rate of 21 % primarily due to the non-taxable change in fair value a partial release of contingent consideration, partially offset by state income taxes and the change in valuation allowance related to the fluctuation in value of our losses on its investment in equity securities, balance. partially offset by the non-deductible change in fair value of contingent consideration and non-deductible milestone payments.

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Note 7: Property, Plant and Equipment, Net 1 change

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Depreciation and amortization expense related to property, plant and equipment, net, was $ 5.9 6.1 million and $ 5.1 5.6 million for the three months ended June September 30, 2026 and 2025 , respectively, and $ 11.8 17.9 million and $ 10.6 16.3 million for the six nine months ended June September 30, 2026 and 2025 , respectively.

Note 8: SPECT Business 3 changes

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Consideration received from SHINE SPECT on the Disposition Date consisted of cash, the Installment Note, the Seller Note, the Deferred Cash Purchase Price and the right to certain contingent consideration. All components of consideration received were measured at fair value on the Disposition Date in computing the loss (gain) on sale of business, net of transaction costs. The fair value of total net consideration received on the Disposition Date was approximately $ 131.2 million. See Note 4, "Fair Value of Financial Instruments" for more information on the total net consideration received for the Disposition.

The Company recognized a gain on sale of the SPECT business of $ 59.4 million, net of transaction costs, of $ 0.2 million and for the nine months ended September 30, 2026, including a $ 59.5 0.1 million for loss, which was an adjustment recorded during the three and six months ended June September 30, 2026 respectively. for a true-up of assets. The Company recorded a post-closing working capital settlement related to the sale of its SPECT business which was partially offset by miscellaneous asset and liability true-ups recorded during the three nine months ended June September 30, 2026. . In addition, the six month nine-month period ended June September 30, 2026 includes the Disposition Date fair value of consideration received of $ 131.2 million, including a $ 0.7 million net working capital settlement determined during the three months ended June 30, received in July 2026, less the carrying value of the deconsolidated assets and liabilities of approximately $ 64.5 million, and is net of transaction costs incurred and paid by the Company of $ 7.2 million during the first quarter of 2026 and a $ 0.1 million loss, which was an adjustment recorded during the third quarter of 2026 for the true-up of assets. This gain on sale of business, net of transaction costs is presented within non-operating income on the Company's condensed consolidated statements of operations for the three and six nine months ended June September 30, 2026.

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The Company does not believe the sale represented a strategic shift that had a major effect on the Company's consolidated financial results and therefore did not meet the criteria for classification as discontinued operations.

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Note 10: Goodwill and Intangibles, Net 4 changes

The following table represents the change in the carrying value of goodwill for the six nine months ended June September 30, 2026:

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Lantheus Biosciences adjustments

Lantheus Biosciences measurement period adjustments

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Balance at June September 30, 2026

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Note 11: Long-Term Debt, and Other Borrowings, Net of Current Portion 5 changes

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Less: current portion of long-term debt and other borrowings ( 697 605 ( 738

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2022 Revolving Facility Covenants

The 2022 Revolving Facility contains a number of affirmative, negative and reporting covenants, as well as financial maintenance covenants pursuant to which the Company is required to be in quarterly compliance, measured on a trailing four quarter basis, with two financial covenants. The minimum interest coverage ratio must be at least 3.00 to 1.00. The maximum total net leverage ratio permitted by the financial

The Company is permitted to voluntarily prepay the Revolving Loans, in whole or in part, or reduce or terminate the Revolving Commitment, in each case, without premium or penalty. On any business day on which the total amount of outstanding Revolving Loans, Letters of Credit, and Swingline Loans exceeds the total Revolving Commitment, the Company must prepay the Revolving Loans in an amount equal to such excess. The Company is not required to make mandatory prepayments under the 2022 Revolving Facility. As of June September 30, 2026 , there were no outstanding borrowings under the 2022 Revolving Facility.

The Company has the right to request an increase to the Revolving Commitment in an aggregate principal amount of up to the greater of $ 685.0 million (so that the total amount available would be approximately $ 1.44 billion) or 100% of consolidated earnings before interest, taxes, depreciation and amortization for the four consecutive fiscal quarters most recently ended, plus additional amounts in certain circumstances (collectively, the "Incremental Cap"), minus certain incremental term loans made pursuant to specified incremental term loan commitments ("Incremental Term Loans"). The Company has the right to request Incremental Term Loans in an aggregate principal amount of up to the Incremental Cap less any incremental increases to the Revolving Commitment. Proceeds of Incremental Term Loans may be used for working capital and for other general corporate purposes and will bear interest at rates agreed between the Company and the lenders providing the Incremental Term Loans.

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Note 12: Stockholders' Equity and Stock-Based Compensation 3 changes

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On April 30, 2026, the Company's shareholders stockholders approved the Amended and Restated 2026 Equity Incentive Plan (the "2026 Plan") which amended and restated the 2015 Equity Incentive Plan (the "2015 Plan") to (i) increase the number of shares of common stock reserved for issuance thereunder by 2,000,000 shares, (ii) effect the name change of the 2026 Plan, (iii) change the provision regarding non-employee director compensation limits from a number of shares of common stock not to exceed 500,000 shares to total compensation of (a) no more than $ 1,250,000 in combined cash and equity awards during such director's year of appointment and (b) no more than $ 750,000 in combined cash and equity awards in any other year of service, and (iv) remove and revise certain provisions that were otherwise required for awards to qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended, prior to the repeal of the applicable limitations thereunder. The 2026 Plan is administered by the Board of Directors (the "Board") and permits the granting of stock, stock options, stock appreciation rights, restricted stock, restricted stock units and dividend equivalent rights to employees, officers, directors and consultants of the Company. As of June September 30, 2026, the aggregate shares of common stock reserved for issuance under the 2026 Plan, as amended, is 16,930,277 shares.

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On July 31, 2025, the Company's Board of Directors ("Board") authorized a program to repurchase up to $ 400.0 million of shares of the Company's common stock through December 31, 2027 (the "2025 Program"). During the three and six nine months ended June September 30, 2026, the Company did no t repurchase any of its common stock under the 2025 Program. During 2025, the Company repurchased a total of 3.5 million shares for an aggregate purchase price of approximately $ 200.0 million under the 2025 Program for an average stock price of $ 56.72 . A total of approximately $ 200.0 million of shares of the Company's common stock remain available for repurchase under the 2025 Program as of June September 30, 2026.

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Effective September 11, 2026, the Lantheus Holdings, Inc. 2023 Employee Stock Purchase Plan (the "2023 ESPP") provides was suspended after the completion of the current offering period. The 2023 ESPP provided for the granting of up to 500,000 shares of the Company's common stock to eligible employees. The 2023 ESPP allows allowed eligible employees to contribute up to 15 % of their qualifying compensation toward the semi-annual purchase of the Company's common stock in March and September of each year, subject to an annual maximum dollar amount. The purchase price is was the lesser of 85 % of the fair market value of the stock on the last trading day of each Offering Period (as defined in the 2023 ESPP); or the first trading day of each Offering Period. In March 2026 and September 2026, the Company issued 58,907 shares and 31,956 shares under the 2023 ESPP, respectively. As of June September 30, 2026, the number of shares that would have been available for issuance under the 2023 ESPP if the suspension was 340,393 not in place was 308,437 shares. The Company calculates calculated the fair value of the shares issued under the 2023 ESPP using the Black-Scholes model at the commencement of an Offering Period in March and September of each year and the related expense is recorded over the Offering Period. Shares issuable under the Offering Period ending September 11, 2026 were issued in accordance with the 2023 ESPP, and no additional Offering Period commenced thereafter.

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Note 13: Net Income Per Common Share 1 change

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The Company considers shares issuable upon conversion of the Notes to be common stock equivalents and are only included in the calculation of diluted net income per share when their effect is dilutive. The Company has the option to settle the Notes through cash settlement or a combination of cash and share settlement provided that the principal is settled in cash and the conversion spread is settled in cash or shares as elected by the Company. The Company considers the Notes to be participating securities through the two-class method. Per the terms of the Indenture, the Company determined that if a cash dividend is paid that is greater than the stock price at the time such dividend is declared, the holders of the Notes will receive cash on an if-converted basis. While this feature is considered to be a participating right, basic income attributable to common shareholders stockholders is only impacted if the Company's earnings per share exceeds the current share price, regardless of whether such dividend is declared. During the three and six nine months ended June September 30, 2026 and 2025, no such dividend was declared, and the Company's earnings per share did not exceed its share price. The Company is required to settle the principal amount of the Notes in cash upon conversion, and convertibility of the Notes is dependent upon the Company's share price. Therefore, the Company used the if-converted method for calculating the dilutive effect of the conversion option on diluted net income per share. The conversion option will have a dilutive impact on net income per share of common stock when the average price per share of the Company's common stock for a given period exceeds the Conversion Price of the Notes. See Note 11, "Long-Term Debt, and Other Borrowings, Net of Current Portion" for further discussion on the Notes.

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Legal proceedings 1 change

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On January 26, 2024, the Company was sued in the United States District Court for the District of Delaware (the "District Court") by Advanced Accelerator Applications USA, Inc. and Advanced Accelerator Applications SA (collectively known as "ADACAP" in the court proceedings), each a Novartis entity, for patent infringement in response to the filing of our the Company's Abbreviated New Drug Application ("ANDA") and Paragraph IV certification in connection with PNT2003, consistent with the process established by the Hatch-Waxman Act. In December 2025, the court conducted its trial. On June 17, 2026, the District Court issued an opinion in Lantheus' Lantheus's favor; specifically, the District Court determined that all the patents asserted by ADACAP are invalid. On June 23, 2026, ADACAP appealed the District Court's decision to the Court of Appeals for the Federal Circuit ("CAFC") and moved for an emergency injunction to stay Lantheus' Lantheus's launch of PNT2003 pending appeal. On July 2, 2026, the CAFC denied ADACAP's motion to stay Lantheus from launching PNT2003 during the appeal process. As of the date of this Form 10-Q, the Company is waiting for has received final FDA approval for PNT2003, now referred to as BRAVNETSA (lutetium Lu 177 dotatate), and is participating in the appeal briefing process on an expedited basis which will culminate in an oral hearing before the CAFC currently scheduled for December 14, 2026. The timing of the oral hearing and the final decision of the CAFC on ADACAP's appeal is not known. Because the outcome of litigation is uncertain, the Company cannot predict how or when this matter will ultimately be resolved.

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Notes to the financial statements 20 changes

covenant is 3.50 to 1.00, other than in connection with certain acquisitions, in which case, the maximum total net leverage ratio permitted can be increased to 4.00 to 1.00.

The 2022 Revolving Facility contains usual and customary restrictions on the ability of the Company and its subsidiaries to: (i) incur additional indebtedness (ii) create liens; (iii) consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; (iv) sell certain assets; (v) pay dividends on, repurchase or make distributions in respect of capital stock or make other restricted payments; (vi) make certain investments; (vii) repay subordinated indebtedness prior to stated maturity; and (viii) enter into certain transactions with its affiliates.

Upon an event of default, the Administrative Agent (as defined in the 2022 Revolving Facility) will have the right to declare the loans and other obligations outstanding under the 2022 Revolving Facility immediately due and payable and all commitments immediately terminated.

The 2022 Revolving Facility is guaranteed by Lantheus Holdings, and certain subsidiaries of Lantheus Medical, including Progenics and Lantheus Real Estate, and obligations under the 2022 Revolving Facility are generally secured by first priority liens over substantially all of the assets of each of Lantheus Medical, Lantheus Holdings, and certain subsidiaries of Lantheus Medical, including Progenics and Lantheus Real Estate (subject to customary exclusions set forth in the transaction documents) owned as of December 2, 2022 or thereafter acquired.

2.625 % Convertible Senior Notes due December 2027

On December 8, 2022, the Company issued $ 575.0 million in aggregate principal amount of 2.625 % Convertible Senior Notes due December 2027 (the "Notes"), which includes $ 75.0 million in aggregate principal amount of Notes sold pursuant to the full exercise of the initial purchasers' option to purchase additional Notes. The Notes were issued under an indenture, dated as of December 8, 2022 (the "Indenture"), among the Company, Lantheus Medical, a wholly owned subsidiary of the Company, as Guarantor, and U.S. Bank Trust Company, National Association, as Trustee. The net proceeds from the issuance of the Notes were approximately $ 557.8 million after deducting the initial purchasers' discounts and offering expenses payable by the Company.

The Notes are senior unsecured obligations of the Company. The Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Guarantor. The Notes bear interest at a rate of 2.625 % per year, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2023, and will mature on December 15, 2027 unless earlier redeemed, repurchased or converted in accordance with their terms. The initial conversion rate for the Notes is 12.5291 shares of the Company's common stock per $1,000 in principal amount of Notes (which is equivalent to an initial conversion price of approximately $ 79.81 per share of the Company's common stock (the "Conversion Price"), representing an initial conversion premium of approximately 42.5 % above the closing price of $ 56.01 per share of the Company's common stock on December 5, 2022). In no event shall the conversion rate per $1,000 in principal amount of the Notes exceed 17.8539 shares of the Company's common stock. Prior to the close of business on the business day immediately preceding September 15, 2027, the Notes may be converted at the option of the holders only upon occurrence of specified events and during certain periods, and thereafter until the close of business on the business day immediately preceding the maturity date, the Notes may be converted at any time. The Company will satisfy any conversion by paying cash up to the aggregate principal amount of the Notes to be converted and by paying or delivering, as the case may be, cash, shares of the Company's common stock, or a combination of cash and shares of the Company's common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted. The Company may redeem for cash all or any portion of the Notes, at its option if the closing sale price per share of the Company's common stock exceeds 130 % of the Conversion Price of the Notes for at least 20 trading days of the last 30 consecutive trading days of the quarter. The redemption price will be equal to 100 % of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

The Company evaluated the Notes upon completion of the sale and concluded on the following features:

• Conversion Feature: The Company determined that the conversion feature qualifies for the classification of equity. As a result, the conversion feature should not be bifurcated as a derivative instrument and the Notes were accounted for as a single liability.

• Redemption Features: The redemption features were reviewed within the Notes and the Company determined that the redemption features are closely related to the Notes and as such should not be separately accounted for as a bifurcated derivative instrument.

• Additional Interest Features: The Notes may result in additional interest if the Company fails to timely file any document or report that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company will pay additional interest on the Notes at a rate equal to 0.25 % to 0.50 % per annum based on the principal amount of Notes outstanding for each day the Company's failure to file has occurred or the Notes are not otherwise freely tradable. Further, if the Notes are assigned a restricted CUSIP number or the Notes are not otherwise freely

material facts) in violation of the Exchange Act. The lead plaintiff filed an amended complaint on March 13, 2026. The Company and its executives filed a motion to dismiss the amended complaint on May 11, 2026, and under the operative scheduling order, that motion was fully briefed by August 10, 2026. Additionally, on December 17, 2025, another alleged stockholder of the Company filed a shareholder derivative action in the same court, styled Lelchuk v. Heino et al. , nominally on behalf of the Company and naming as defendants the current directors of the Board and the same officers named in the consolidated securities class action described above (a similar derivative complaint styled Jones v. Markison et al. , was previously filed on October 31, 2025 but was voluntarily withdrawn without prejudice). The derivative complaint largely repeats the allegations asserted in the consolidated securities class action, and asserts claims for alleged breaches of fiduciary duties, aiding and abetting breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of the Exchange Act. The plaintiff seeks damages and other relief on behalf of the Company. The derivative action is stayed pending one or more of the following events: (i) a public announcement of any settlement of the putative securities class action; (ii) a ruling on the defendants' motion to dismiss; or (iii) a dismissal with prejudice of the putative securities class action and exhaustion of all related appeals. Because the outcome of litigation is uncertain, the Company cannot predict how or when these matters will ultimately be resolved.

Following the filing on September 8, 2026 of the Company's definitive proxy statement (the "Definitive Proxy Statement") relating to the Merger (as defined below), three complaints were filed by purported stockholders against the Company and certain members of the Board in connection with the Merger. Two such complaints were filed in the Supreme Court of the State of New York, County of New York: Hamilton v. Lantheus Holdings, Inc., et al. , Index No. 655291/2026, filed on September 16, 2026, and McDaniels v. Lantheus Holdings, Inc., et al. , Index No. 655281/2026, filed on September 16, 2026, and one was filed in the Superior Court of the Commonwealth of Massachusetts, Middlesex County: Garfield v. Lantheus Holdings, Inc., et al. , Civil Docket No. 2681CV02581, filed on September 25, 2026 (collectively, the "Merger Complaints"). The Merger Complaints generally alleged, among other things, that the Definitive Proxy Statement omitted or misrepresented certain material information and asserted claims under state common law.

In addition to the Merger Complaints, the Company has received sixteen demand letters from purported stockholders of the Company, two of which attached a draft complaint, making similar allegations to the Merger Complaints (the "Demand Letters").

On October 2, 2026, solely to avoid the costs, burden, nuisance and uncertainties inherent in litigation and without admitting any liability or wrongdoing, the Company filed supplemental disclosures to the Definitive Proxy Statement. On October 14, 2026, the Company's stockholders adopted the Merger Agreement (as defined below) and approved related proposals at a special meeting of stockholders. The Company believes the Merger Complaints and the Demand Letters are without merit. Additional demand letters or lawsuits may be received or filed in connection with the Merger. Because the outcome of litigation is uncertain, the Company cannot predict how or when these matters will ultimately be resolved.

As of September 30, 2026, the Company was not a party to any other material ongoing legal proceedings and has determined that the aforementioned matters are not expected to have a material adverse effect on its business or consolidated financial results.

Technology License and Other Commitments

The Company has licensed from third parties the rights to use certain technologies in its R&D processes as well as in other products it may develop, commercialize, or sell. In accordance with the related license or sublicense agreements, the Company is contractually required to make certain future payments to these third parties contingent upon (i) the achievement of specified regulatory, development and/or commercialization milestones and (ii) future sales of specified products in the form of royalty payments. Milestone payments are generally recognized in the period in which the achievement of the underlying milestone becomes probable, which is generally the period in which it is actually achieved. Royalty payments are generally recognized in the period in which the associated revenue is recognized.

Repurchase of License

In June 2026, the Company entered into a repurchase agreement (the "Repurchase Agreement") with its distributor in China pursuant to which the Company repurchased from the distributor the license to DEFINITY in China along with the related materials, approvals and clinical trial research that had been accumulated since the original Distribution and Supply Agreement between the same parties (the "Supply Agreement"), which was executed in April 2012. The Company's repurchase right was in accordance with the Supply Agreement. The total consideration to be paid as part of the Repurchase Agreement is $ 30.0 million. The Company paid $ 15.0 million of this consideration during the three months ended September 30, 2026. The remaining $ 15.0 million is expected to be paid in two tranches by the end of 2026 upon satisfaction of certain conditions, is recorded as an obligation in accrued expenses and other current liabilities on the Company's condensed consolidated balance sheet as of September 30, 2026 and was fully expensed to sales and marketing expenses on the Company's condensed consolidated statements of operations during the second quarter of 2026.

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Note 16: Benefit Plans 2 changes

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In October 2024, the Company adopted the LDCP to provide key, highly-compensated employees and non-employee directors an additional opportunity for personal financial planning by allowing an option to defer a portion of their base salary and variable compensation each year. Under the LDCP, which is an elective nonqualified deferred compensation plan, employee participants are eligible to defer up to 80 % of base salary and up to 80 % of any bonus award beginning in 2025. Non-employee directors that are participants of the LDCP are eligible to defer up to 100 % of their Board fees. Additionally, Company matching or employer contributions may be credited to the LDCP. Any matching or employer contributions cliff vest after the earlier of (i) five years , (ii) the participant reaching age 55, (iii) death, or (iv) disability. All amounts deferred or credited to a participant's account (the "Deferred Amounts") are held in a separate trust which was established by the Company to administer the LDCP. The LDCP assets held in trust by the Company to offset its obligation, which could currently consist of COLI and could include mutual funds, in future periods, are subject to the claims of the Company's creditors in the event that the Company becomes insolvent. Consequently, the trust qualifies as a grantor trust for income tax purposes, or a Rabbi Trust (the "Trust"). Amounts deferred (and earnings on those amounts) are generally distributed following termination of employment unless the participant has elected an earlier distribution date, which may be no earlier than January 1st of the second year following the year of deferral. Vested Company matching or employer contributions (and earnings on those amounts) are generally distributed following termination of employment. Participants can elect to receive distributions in a lump sum, in annual installments over a period of not more than ten years for a qualifying distribution event (as defined in the LDCP), or in annual installments over a period of not more than five years if distributions are made prior to termination of employment.

As of June September 30, 2026, assets and liabilities held by the Trust were $ 2.1 million and $ 1.7 1.9 million, respectively. As of December 31, 2025 , assets and liabilities held by the Trust were $ 1.1 million and $ 0.9 million, respectively. Assets and liabilities held by the Trust as of each such date were included in other long-term assets, accrued expenses and other current and long-term liabilities in the Company's condensed consolidated balance sheets. Changes in the value of the LDCP assets and liabilities are charged to net loss (gain) on investment in equity securities - unrealized loss (gain) and to general and administrative expenses, respectively, in the Company's condensed consolidated statements of operations and were de minimis for the three and six nine months ended June September 30, 2026 .

Note 18: Acquisitions 3 changes

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Agreement and Plan of Merger with Curium Pharma

On August 3, 2026 , the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Curium US Holdings LLC (the "Parent") and Coco Merger Sub Inc. (the "Merger Sub"), pursuant to which the Parent will acquire the Company by means of a statutory merger of the Merger Sub with and into the Company, with the Company surviving as the Parent's wholly-owned subsidiary (the "Merger"). See Note 19, "Subsequent Event," for more information on the Merger.

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As consideration for the Evergreen Acquisition, , the Company made an upfront payment of $ 276.4 million in cash. The upfront cash consideration included a $ 25.0 million milestone payment that was triggered prior to the Evergreen Closing Date, the cash settlement of the options and restricted stock units granted to certain Evergreen equity holders related to pre-acquisition services, which was recorded as a component of consideration transferred of $ 6.1 million, the settlement by the Company of the pre-existing Evergreen debt of $ 4.3 million, and the payment of transaction expenses paid by the Company on behalf of Evergreen of $ 11.6 million. In connection with the Evergreen Acquisition, , certain equity awards that were outstanding and unvested prior to the acquisition became fully vested per terms of the merger agreement. The Company recognized $ 7.5 million terms of nonrecurring post-combination expense related to the acceleration and cash settlement of

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Forward-looking statements 2 changes

Some of the statements contained in this Quarterly Report on Form 10-Q ("Form 10-Q") are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements, including, in particular, statements about our plans, strategies, prospects and industry estimates, are subject to risks and uncertainties. These statements identify prospective information and can generally be identified by words such as "anticipated," "believes," "can," "commitment," "could," "designed," "ensuring," "estimates," "expects," "generate," "impact," "increasingly," "hopes," "intends," "launch," "likely," "long-term," "maintain," "may," "pending," "pipeline," "plans," "potential," "predict," "proposed," "remain," "seek," "should," "sustain," "target," "will," "would" and similar expressions, or by express or implied discussions regarding the pending Merger (as defined below), potential or pending acquisitions, dispositions, collaborations, development and commercialization plans described in this Form 10-Q, or regarding potential future revenues and expenses related to such acquisitions, collaborations, development and commercialization plans. Examples of forward-looking statements include statements we make relating to our outlook and expectations including, without limitation, in connection with: (i) continued market expansion, penetration and reimbursement for our established commercial products, particularly PYLARIFY, DEFINITY and Neuraceq, in a competitive environment and our ability to clinically and commercially differentiate our products; (ii) our ability to complete the technology transfer across our positron emission tomography ("PET") manufacturing facilities ("PMF") network for PYLARIFY TruVu, the new formulation of our F-18 prostate-specific membrane antigen ("PSMA") PET imaging agent approved by the U.S. Food and Drug Administration ("FDA") on March 6, 2026, to obtain FDA approval for each PMF within our network to manufacture PYLARIFY TruVu, to obtain maintain adequate coverage and payment for PYLARIFY TruVu, including the transitional pass-through payment status ("TPT Status") granted by the Centers for PYLARIFY TruVu, Medicare & Medicaid Services, as announced on September 30, 2026, to have payers add Healthcare Common Procedure Coding System ("HCPCS") coding code for PYLARIFY TruVu effective October 1, 2026 to their systems on a timely basis and to have customers adopt PYLARIFY TruVu; (iii) the availability of raw materials, key components, equipment, manufacturing time slots, either used in the production of our products and product candidates, or by customers of our products and product candidates, including, but not limited to PET scanners for PYLARIFY, PYLARIFY TruVu, Neuraceq, MK-6240, TAUKLARIFY, LNTH-2501 and NAV-4694; (iv) our ability to have third parties manufacture our products and product candidates and our ability to manufacture DEFINITY in our in-house manufacturing facility, in amounts and at the times needed; (v) our ability to satisfy our obligations under our existing clinical development partnerships using Neuraceq, MK-6240 or NAV-4694 and other assets as a research tool and under the license agreements through which we have rights to those assets, to support TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240, which was approved by the FDA on August 14, 2026, including through our Pharma Solutions business, and to determine an appropriate path and timing toward its broader commercial availability, and to further develop and commercialize MK-6240 and NAV-4694 as an approved products; product; (vi) our ability to continue to successfully integrate acquisitions, including of Lantheus Biosciences, which could be impacted by unforeseen expenses related to integration activities, the potential for unforeseen liabilities within that business, the ability to integrate disparate information technology systems, retain key talent and create a merged corporate culture that successfully realizes the full potential of the combined organization; (vii) our ability to obtain FDA approval for LNTH-2501, our investigational kit for the preparation of Gallium-68 ("Ga-68") edotreotide injection, which has been studied for use in conjunction with a PET scan to stage and localize neuroendocrine tumors in adult and pediatric patients, including satisfactorily resolving certain unresolved third-party facility inspection-related conditions identified in the Complete Response Letter ("CRL") issued by the FDA on June 26, 2026 and obtaining approval of a resubmitted New Drug Application ("NDA"), and to successfully commercialize LNTH-2501, if approved; (viii) the timing, execution and success of our ability to obtain final FDA approval for planned commercialization of BRAVNETSA (lutetium Lu 177 dotatate), previously known as PNT2003, which received final FDA tentative approval earlier this year, on September 22, 2026, including in light of competing lutetium Lu 177 dotatate products, our ability to successfully defend the favorable U.S. District Court ruling invalidating all patents asserted by ADACAP, in the related Hatch-Waxman litigation, which is currently on appeal before the U.S. Court of Appeals for the Federal Circuit, and the timing, execution and success of the launch our dependence on POINT Biopharma Global Inc. to manufacture and commercialization of PNT2003, if approved; supply BRAVNETSA; (ix) the cost, efforts and timing for clinical development, manufacturing, regulatory approval, adequate coding, coverage and payment and successful commercialization of our newly approved products, product candidates and new clinical applications and territories for our products, in each case, that we or our strategic partners may undertake, including those investigational the SPARROW Phase 2/3 registrational trial of LNTH-2401, and the risk of further impairment of our in-process research and development ("IPR&D") assets; for which FDA approval has been obtained or is anticipated to be obtained this year; (x) the timing, execution, and success of our strategic program to simplify and streamline our operations so we can focus mainly on our radiodiagnostic business and pursue value-maximizing alternatives for our radiotherapeutic assets; (xi) our ability to identify opportunities to collaborate with strategic partners and to acquire or in-license additional product opportunities in oncology, neurology and other strategic areas and continue to grow and advance our pipeline of products, subject to the restrictions on the conduct of our business under the Agreement and Plan of Merger, dated as of August 3, 2026 (the "Merger Agreement"), by and among us, Curium US Holdings LLC (the "Parent"), and Coco Merger Sub Inc.; (xii) the timing and outcome of alleged stockholder the actions filed against us by alleged stockholders, and of demands or litigation relating to the transactions contemplated by the Merger Agreement; (xiii) the effect that changes to management including the recent turnover in our leadership and senior management team, could have on our business; (xiv) our ability and the ability of Curium US Holdings LLC the Parent to complete the transactions contemplated by the Merger Agreement, including the parties' ability to satisfy the remaining closing conditions in the agreement, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), which was extended on October 21, 2026 by the Federal Trade Commission (the "FTC"), and the receipt of other required antitrust and foreign direct investment approvals; (xv) statements about the expected time frame for completing the proposed acquisition of us by Curium US Holdings LLC; Merger; (xvi) our and Curium US Holdings LLC's the Parent's beliefs and expectations and statements about the benefits sought to be achieved by the proposed acquisition; Merger; (xvii) the potential effects of the proposed acquisition Merger on us and Curium US Holdings LLC the Parent, including on our relationships with customers, suppliers and employees, and the costs we have incurred and will incur in connection with the proposed Merger whether or not it is completed; (xviii) the possibility of any termination of the Merger Agreement, including in circumstances that would require us to pay a termination fee; and (xix) whether any payments will be made under the contingent value rights to be issued in the proposed Merger.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. These statements are neither statements of historical fact nor guarantees or assurances of future performance. The matters referred to in the forward-looking statements contained in this Form 10-Q may not in fact occur. We caution you, therefore, against relying on any of these forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in Part I, Item 1A, " Risk Factors" in our Annual Report on Form 10-K (our "Form 10-K") for the year ended December 31, 2025, filed with the Securities and Exchange Commission ("SEC") on February 26, 2026, (our "Form 10-K"), and in Part II, Item 1A. "Risk Factors" in this Form 10-Q.

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Business 105 changes

We are the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Prior to January 1, 2026, we classified our revenues into three product categories: Radiopharmaceutical Oncology, Precision Diagnostics, and Strategic Partnerships and Other Revenue. Following our sale of our single-photon emission computerized tomography ("SPECT") business on January 1, 2026, we classify our revenues into four product categories: Oncology, Neurology, Cardiology, and Strategic Partnerships and Other Revenue, reflecting the evolution of our commercial portfolio and strategic focus. We have presented the prior year numbers for revenues to conform with our current year presentation, including the disaggregation of revenue related to the single-photon emission computerized tomography SPECT business which was divested to SHINE Technologies, LLC ("SHINE"), a wholly-owned subsidiary of Illuminated Holdings, Inc. ("Illuminated"), on January 1, 2026. Our Strategic Partnerships and Other Revenue category includes biomarkers and digital solutions supporting our partners' therapeutic development, out-licensing agreements for non-core assets and geographically-focused commercialization strategies and contract development and manufacturing organization ("CDMO") revenue generated by Evergreen. We are headquartered in Massachusetts with offices in New Jersey, Canada, Germany, Switzerland, Sweden and the United Kingdom.

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In February 2026, we announced an updated strategic focus on innovative PET radiodiagnostics, informed by our capabilities and customer relationships. Over the past year, we took purposeful, disciplined actions to optimize our portfolio and continue to strengthen our commercial and development capabilities, including strategic transactions that expanded our presence across oncology, neurology and cardiology while diversifying our pipeline. Some of our recent developments include the following:

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On August 3, 2026, we entered into an Agreement and Plan of Merger the Merger Agreement, with Curium US Holdings LLC (the "Parent") and Coco Merger Sub Inc. (the "Merger Sub"), pursuant to which, upon the terms and subject to the conditions set forth therein, the Parent will acquire all the outstanding shares of the our common stock (other than certain excluded shares and shares for which appraisal rights have been properly exercised) by means of a statutory merger of its subsidiary with and into us (the "Merger") for $102.50 per share in cash at closing. In addition, as part of the Merger, our shareholders stockholders will receive one contingent value right ("CVR") per share representing the right to receive up to $12.00 per share in cash when and if payable, upon the achievement of certain specified commercial milestones, all subject to the terms and conditions set forth in a contingent value rights CVR agreement to be entered into among the Parent us and a rights agent selected by the Parent and reasonably acceptable to us. The transaction is currently expected to close in the first half of 2027, subject to satisfaction of customary closing conditions, including receipt of our shareholders' approval and certain regulatory approvals, including the expiration or termination of the waiting period under the HSR Act, which was extended on October 21, 2026 by the FTC. See Note 17, "Proposed Merger" for more information on the Merger Agreement.

LNTH-2401 Phase 2/3 Study

On September 28, 2026, we announced that the first patient has been dosed in SPARROW, a Phase 2/3 registrational trial evaluating LNTH-2401 (68Ga-DOTA-RM2). LNTH-2401 is an investigational Ga-68-labeled PET imaging agent that targets gastrin-releasing peptide receptor ("GRPR"), a biomarker that is highly expressed in many prostate cancers. SPARROW is an open-label, non-randomized, multicenter Phase 2/3 clinical trial evaluating investigational LNTH-2401 PET/computed tomography imaging in prostate cancer. The study consists of a Phase 2 dose optimization period followed by a Phase 3 diagnostic performance period.

Approval of PNT2003/BRAVNETSA

On September 22, 2026, we announced that the FDA granted final approval for BRAVNETSA (lutetium Lu 177 dotatate), previously known as PNT2003, a bioequivalent and therapeutically equivalent radiopharmaceutical to LUTATHERA (lutetium Lu 177 dotatate). BRAVNETSA was approved through the FDA's Abbreviated New Drug Application ("ANDA") pathway. Approval of this product expands radioligand treatment options for adult patients with somatostatin receptor-positive ("SSTR+") gastroenteropancreatic neuroendocrine tumors ("GEP-NETs"), including foregut, midgut, and hindgut neuroendocrine tumors. As of the date of this report, we have not set a public launch date for BRAVNETSA but the launch will consider the disposition of legal proceedings related to the Hatch-Waxman process as well as manufacturing and commercial readiness to ensure launch success.

Approval of TAUKLARIFY

On August 14, 2026, we announced that the FDA approved TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240, a radiodiagnostic agent indicated for PET of the brain in adults with cognitive impairment who are being evaluated for Alzheimer's disease to identify patients with tau neurofibrillary tangle pathology.

Following approval, we intend to continue to support the use of TAUKLARIFY in Alzheimer's disease therapeutic programs through our Pharma Solutions business while assessing the appropriate path toward broader commercial availability. Our approach will remain aligned with the needs of our partners and informed by developments across the Alzheimer's disease treatment landscape.

TAUKLARIFY's approval is supported by two pivotal studies assessing its sensitivity and specificity. The data from these two studies analyzed TAUKLARIFY PET images from more than 500 subjects who participated in three clinical trials. The clinical trials included individuals with mild cognitive impairment, mild Alzheimer's disease dementia and cognitively unimpaired individuals, enabling evaluation across a broad spectrum of cognitive function, including earlier stages of disease.

Complete Response Letter for LNTH-2501 New Drug Application ("NDA")

On March 17, 2026, we announced that the FDA has extended its review of the NDA for LNTH-2501, moving the Prescription Drug User Fee Act ("PDUFA") target action date from March 29, 2026 to June 29, 2026. On June 26, 2026, we announced that the FDA issued a Complete Response Letter CRL regarding in response to the NDA, stating that the agency could not approve the NDA by the June 29, 2026 extended PDUFA target action date due to unresolved third-party facility manufacturing-related conditions. The third-party facility is responsible for drug product manufacturing. Satisfactory resolution of the unresolved facility inspection-related conditions and approval of a resubmitted NDA is required before the LNTH-2501 NDA may be approved. LNTH-2501 is a diagnostic kit for the preparation of Gallium-68 Ga-68 edotreotide injection, which has been studied for use with PET imaging for localization of somatostatin receptor-positive neuroendocrine tumors in adult and pediatric patients. The CRL did not identify any concerns regarding the data we submitted in support of the application, nor did it identify any issues related to the safety or efficacy of LNTH-2501.

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In June 2026, we entered into a repurchase agreement (the "Repurchase Agreement") with our distributor in China pursuant to which we repurchased from our distributor the license to DEFINITY in China along with the related materials, approvals, clinical trial research that had been accumulated since the original Distribution and Supply Agreement between the same parties (the "Supply Agreement"), which was executed in April 2012. The right to repurchase was in accordance with the Supply Agreement. The total consideration to be paid as part of the Repurchase Agreement is $30.0 million. which is We paid $15.0 million of this consideration in July 2026 with the remaining two tranches expected to be paid in three tranches by the end of the first quarter of 2027 2026, upon satisfaction of certain conditions.

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Tentative Approval of Abbreviated New Drug Application for PNT2003

On March 2, 2026, we announced that the FDA issued tentative approval of our Abbreviated New Drug Application ("ANDA") for Lutetium Lu 177 Dotatate, also referred to as PNT2003, a radioequivalent version of LUTATHERA ® (lutetium Lu 177 dotatate). LUTATHERA is indicated for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors ("GEP-NETs"), including foregut, midgut, and hindgut neuroendocrine tumors. This tentative approval from the FDA indicates that the FDA has completed its review of the ANDA and determined that it meets the requirements for approval under the Federal Food, Drug and Cosmetics Act. The timing of our launch will consider the following factors: the timing of final FDA approval and disposition of legal proceedings related to the Hatch-Waxman process, as well as manufacturing and commercial readiness to ensure launch success.

On March 6, 2026, we announced that the FDA approved PYLARIFY TruVu (piflufolastat F-18), a new formulation of our F-18 PSMA PET imaging agent. PYLARIFY TruVu is indicated for PET imaging of PSMA-positive lesions in men with prostate cancer with suspected metastasis who are candidates for initial definitive therapy, or suspected recurrence based on elevated serum prostate-specific antigen ("PSA"). PYLARIFY TruVu is designed to enhance product stability at higher radioactive concentrations, supporting more efficient manufacturing and distribution, including the potential to increase batch sizes and serve broader geographic markets. PYLARIFY TruVu is expected to become commercially available beginning in the fourth quarter of 2026 and will be introduced on a rolling geographic basis, with the intent to transition customers from PYLARIFY to PYLARIFY TruVu. We plan to work closely with clinicians and PET manufacturing facilities PMFs to support a smooth transition, including providing guidance on ordering, handling, and clinical use to support continuity of care. We are pursuing reimbursement for In the new formulation from third quarter of 2026, the Centers for Medicare and Medicaid Services ("CMS") including seeking three years of TPT Status. In the second quarter of 2026, we submitted applications for both HCPCS coding and TPT Status, with a targeted October 1, 2026 effective date for both. On July 24, 2026, CMS granted a HCPCS code and TPT Status for PYLARIFY TruVu, each with an effective date of October 1, 2026.

On February 19, 2026, our Board of Directors (the "Board") approved a strategic program to simplify and streamline the Company's our operations so it we can focus mainly on its our radiodiagnostic business and pursue value-maximizing alternatives for its our radiotherapeutic assets. As a result of the program along with other on-going operational initiatives, the Company has we incurred $5.2 million minimal charges during the three months ended September 30, 2026 and $13.0 have incurred $12.5 million of charges during the three and six nine months ended June September 30, 2026. respectively, and expects We expect to continue to incur costs for the remainder of 2026.

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On January 1, 2026 (the "Disposition Date"), as a result of the sale of our SPECT business pursuant to the Equity and Asset Purchase Agreement, by and among Lantheus Medical, Lantheus MI Canada, Inc., Lantheus EU Limited, and Illuminated, SHINE SPECT, LLC, SHINE SPECT Medical Products, Ltd., and SHINE SPECT Limited (collectively referred to as "SHINE SPECT"), dated as of May 1, 2025 (the "SHINE SPECT Agreement"), we completed the sale of our SPECT business to SHINE SPECT (the "Disposition") and we received consideration consisting of cash, notes receivable, a portion of which have been and a portion of which may be settled in equity of Illuminated or in cash depending on their specific terms, a right to receive additional cash on the earlier of January 1, 2030 or upon the occurrence of certain specified events, and the right to certain contingent consideration. The fair value of total net consideration that we received on the Disposition Date was approximately $131.2 million, including $32.1 million in cash. Total net consideration reflects a $0.7 million increase resulting from the finalization of the post-close net working capital settlement during the three months ended June 30, 2026, which was received on July 1, 2026. See Note 4, "Fair Value of Financial Instruments" in our condensed consolidated financial statements for more information on the sale of our SPECT business.

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Acceptance of New Drug Application for MK-6240

In October 2025, we announced that the FDA had accepted our NDA for MK-6240, our registrational F-18 tau-targeted PET imaging agent for the detection of tau neurofibrillary tangle pathology in patients with cognitive impairment being evaluated for Alzheimer's disease, and has set a PDUFA target action date of August 13, 2026. In 2025, we announced that MK-6240 successfully met its co-primary endpoints in two pivotal studies assessing its sensitivity and specificity. The data from these two studies supported our NDA submission to the FDA. MK-6240 previously received Fast Track designation from the FDA for its potential to address an unmet medical need in Alzheimer's disease diagnostics.

Brian Markison retired from Lantheus as Chief Executive Officer ("CEO") and resigned from our Board, of Directors ("Board"), both effective December 31, 2025. Mary Anne Heino, the Chair of our Board, was appointed as our Executive Chair and principal executive officer effective November 7, 2025. Ms. Heino became our CEO on January 1, 2026 and will intended to continue to serve in that role until such time as the Board completes the comprehensive search process that it initiated to identify and appoint the Company's next CEO. In light of the transactions contemplated by the Merger Agreement, the Company paused its CEO search process. Following his retirement, Mr. Markison served as a strategic advisor to the Company during the first quarter of 2026.

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In September 2025, we announced an exclusive licensing agreement for GE HealthCare Limited ("GE HealthCare") to develop, manufacture, and commercialize Lantheus' Lantheus's piflufolastat F-18 PET imaging agent (marketed in the United States as PYLARIFY) in Japan for prostate cancer diagnostics and companion diagnostic use. Under the terms of the agreement, GE HealthCare paid us an upfront license fee and will pay us development milestones and tiered royalties based on product sales in Japan.

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We did not repurchase any shares under the 2025 Program in the three or six months ended June 30, 2026. We repurchased 3.5 million shares for approximately $200.0 million under the 2025 Program, in 2025.

On July 31, 2025, our Board authorized a program to repurchase up to $400.0 million of shares of our common stock through December 31, 2027 (the "2025 Program"). The 2025 Program replaces the program authorized by the Board in November 2024 to repurchase up to $250 million of our common stock during the twelve months following the authorization (the "2024 Program"), including the remaining unused amounts under the 2024 Program, and authorizes us to purchase shares of our common stock from time to time via open market purchases at prevailing market prices, in privately negotiated transactions, block trades, or pursuant to trades intending to comply with Rule 10b5-1 under the Exchange Act or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing, manner, price and amount of any repurchase will be subject to the discretion of our management. The 2025 Program does not obligate us to acquire any particular amount of its our common stock, and we may suspend or discontinue the 2025 Program at any time. We did not repurchase any shares under the 2025 Program in the three or nine months ended September 30, 2026. We repurchased 3.5 million shares for approximately $200.0 million under the 2025 Program, in 2025.

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Previously, on July 3, 2024, we acquired from Lantheus Biosciences the global rights to RM2, its clinical stage, gastrin-releasing peptide receptor GRPR-targeting agent, including the associated novel, clinical-stage radiodiagnostic and radiotherapeutic pair, previously referred to as 68Ga-DOTA-RM2 and 177Lu-DOTA-RM2 (and which we now refer to as LNTH-2401 and LNTH-2402, respectively), for an upfront payment of $35.0 million plus a $1.0 million payment made prior to the acquisition (the "RM2 Asset Purchase"), pursuant to the Sublicense, Development and Collaboration Agreement, by and between us and Lantheus Biosciences, dated as of June 27, 2024 (the "RM2 Sublicense Agreement"). In addition, and pursuant to the RM2 Sublicense Agreement, we incurred €10.0 million in regulatory milestones in 2025, and agreed to pay up to an additional €127.5 million (reduced as discussed below) in regulatory and development milestone payments upon the achievement of clinical trial thresholds and approvals in different regions up to €280.0 million in net sale milestones sales milestone payments if products are commercialized and meet certain sales thresholds, and royalties on net sales of RM2.

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GRPR is a member of the bombesin G protein-coupled receptor family, which has been found to be overexpressed in multiple cancers. First-in-human dosimetry showed a favorable safety and dosimetry profile and confirmed preclinical data demonstrating dose-dependent efficacy of LNTH-2402. On September 28, 2026, we plan to initiate our announced that the first patient had been dosed in SPARROW, a Phase 2/3 registrational program for trial evaluating LNTH-2401 in patients with prostate cancer. this year.

For more information on the acquisition of the global rights to RM2, see Note 17, 18, "Acquisitions" in our condensed consolidated financial statements herein.

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For more information, see Note 17, 18, " Acquisitions" in our condensed consolidated financial statements herein.

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On June 15, 2024, we entered into an agreement with Radiopharm to acquire all of Radiopharm's rights to two licensed, then preclinical assets for an upfront payment of $2.0 million. (the "Radiopharm Asset Purchase"). We acquired global, exclusive rights to both One of those assets is a leucine-rich repeat-containing protein 15 ("LRRC15")-targeted monoclonal antibody, which we refer to as LNTH-2403, and a Trophoblast cell surface antigen 2 targeted nanobody, which we refer to as LNTH-2404, each of which is a preclinical clinical therapeutic candidate. LNTH-2403 is strongly expressed in multiple malignancies, including head and neck, breast, lung, and pancreatic cancers. In connection with this acquisition, we assumed the underlying license agreements related to the two assets, together with their respective milestone and royalty payment obligations.

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For more information, see Note 17, 18, " Acquisitions" and Note 4 , " Fair Value of Financial Instruments" in our condensed consolidated financial statements herein.

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During 2024, we also purchased an aggregate of 11,677,339 shares of Perspective's common stock ("Perspective Shares"), after giving effect to a 1-for-10 reverse stock split.

During the three months ended September 30, 2026, the Company received $8.6 million in cash from the sale of 2,938,328 Perspective Shares and realized a loss of $2.3 million, which was recorded within net loss (gain) on investment in equity securities in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2026.

For more information, see Note 17, 18, "Acquisitions" and Note 4, "Fair Value of Financial Instruments" to our condensed consolidated financial statements herein.

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Our strategy to support the continued growth of our PSMA PET franchise includes included the approval and planned commercialization of a new formulation of our F-18 PSMA PET imaging agent, including obtaining TPT Status for this formulation. On March 6, 2026, the FDA approved this new formulation, PYLARIFY TruVu, which is designed to enhance product stability at higher radioactive concentrations and support more efficient manufacturing and broader distribution. PYLARIFY TruVu is expected to become commercially available beginning in the fourth quarter of 2026 and will be introduced on a rolling geographic basis, with the intent to transition customers from PYLARIFY to PYLARIFY TruVu. In the second quarter of 2026, we submitted applications for both HCPCS coding and TPT Status, with a targeted October 1, 2026 effective date for both. On July 24, 2026, CMS granted a HCPCS code for PYLARIFY TruVu, with an effective date of October 1, 2026.

Continued substantial revenue contribution from PYLARIFY our PSMA PET imaging agents depends on our ability to maintain PYLARIFY, and then PYLARIFY TruVu, as a widely utilized PSMA PET imaging agent in an increasingly competitive diagnostic imaging landscape. PYLARIFY's competition includes three Ga-68-based PSMA imaging agents, an F-18-based PSMA imaging agent, and other non-PSMA-based imaging agents commonly referred to as conventional imaging. The potential for future generic entrants following the expiration of PYLARIFY's new chemical entity exclusivity period in May 2026 could further increase competition, along with the continued development of additional F-18 and Ga-68 tracers and PSMA-targeted agents using alternative isotopes, including Copper-64. We continue to make targeted investments to support PYLARIFY awareness, adoption, and appropriate clinical use.

Continued substantial revenue contribution from PYLARIFY our PSMA PET imaging agents will also depend on our ability to clinically differentiate PYLARIFY them from competitive products so that customers continue to choose our PSMA PET with PYLARIFY imaging agents for appropriate patients because of its their clinical differentiation and, in the case of PYLARIFY, despite the loss of TPT Status and the related changes to Medicare fee-for-service ("FFS") hospital outpatient payment. Our Healthcare Common Procedure Coding System code, which enables streamlined billing, went into effect as of January 1, 2022. In addition, from January 1, 2022 to December 31, 2024, PYLARIFY had TPT Status from CMS in the hospital outpatient setting, enabling traditional Medicare FFS to provide separate payment for PYLARIFY in addition to the payment for the PET/computed tomography procedure in that setting. In November 2024, CMS released the final rule for its calendar year 2025 Medicare Hospital Outpatient Prospective Payment System (the "CMS 2025 OPPS Rule"), which recognized the value and need for broad access to diagnostic radiopharmaceuticals. The CMS 2025 OPPS Rule provided separate payment for those diagnostic radiopharmaceuticals with per day costs greater than $630 based on their mean unit cost ("MUC") for patients with traditional Medicare FFS insurance coverage who are treated in the hospital outpatient setting. In November 2025, CMS released the final rule for its calendar year 2026 Medicare Hospital Outpatient Prospective Payment System (the "CMS 2026 OPPS Rule"), which continues to provide for separate payment for diagnostic radiopharmaceuticals with per day costs greater than $655 based on their MUC. As a result, since January 1, 2025, CMS has maintained separate payment for PYLARIFY based on MUC in the hospital outpatient setting, which is lower than payments based on the average selling price that were made during TPT Status. Although PYLARIFY continues to be paid separately, other competitive PSMA PET imaging agents continue to have TPT Status after December 31, 2024, and hospital use of those products, for patients with traditional Medicare FFS in the hospital outpatient setting, generally will be paid separately based on average sales price ("ASP") plus six percent rather than on MUC. In November 2025, in the preamble to the CMS 2026 OPPS Rule, CMS acknowledged that there could be value in the use of Average Sales Price ASP for determining separately paid diagnostic radiopharmaceutical payment amounts in the future. However, CMS will continue to use MUC to calculate payment for diagnostic radiopharmaceuticals in 2026, explaining that there must be more consistent, validated, and universal reporting of ASP data for diagnostic radiopharmaceuticals before ASP can be the basis for payment. CMS reiterated in the CMS 2026 OPPS Rule that, although ASP reporting for diagnostic radiopharmaceuticals remains voluntary at this time, it will continue to evaluate whether and how ASP could be used for future Medicare Outpatient Prospective Payment System ("OPPS") payment once reporting is sufficiently consistent, validated, and universal. Additionally, in the recently released CMS 2027 proposed OPPS rule for CMS's calendar year 2027 Medicare Hospital Outpatient Prospective Payment System, CMS proposed updating the per day cost threshold to $665 and continuing to base separate payment for diagnostic radiopharmaceuticals without TPT Status on MUC, and indicated that it intends to post a guidance document for reporting ASP. We believe this demonstrates a willingness of CMS to move towards ASP from MUC. We report ASP and have repeatedly engaged CMS on methodology for reporting ASP, and we will continue to work with coalition partners and CMS to support using ASP rather than MUC to calculate payment for diagnostic radiopharmaceuticals in future years after the expiration of TPT Status similar to the way OPPS currently pays for other drugs, biologics, and therapeutic radiopharmaceuticals. In the third quarter of 2026, CMS granted a HCPCS code and TPT Status for PYLARIFY TruVu, each with an effective date of October 1, 2026.

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Internationally, we have licensed exclusive rights to Curium Pharma, ("Curium") an affiliate of the Parent, to develop and commercialize piflufolastat F-18 in Europe, where it is marketed in the European Union under the brand name PYLCLARI. During the third quarter of 2026, we expanded the license to cover 56 additional countries across Africa, the Middle East, Asia-Pacific, Latin America, and other international growth markets. In September 2025, we entered into an exclusive licensing agreement with GE HealthCare to develop, manufacture, and commercialize piflufolastat F-18 in Japan for prostate cancer diagnostics and companion diagnostic use. We have also entered into strategic collaborations with pharmaceutical companies for the use of PYLARIFY in connection with the development of PSMA-targeted therapeutics. Additional information on these collaborations are described further is provided under Part I, Item 1. "Business - Strategic Partnerships and Other Revenue – Oncology" of our Form 10-K for the year ended December 31, 2025.

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In addition, Neuraceq utilization may be influenced by reimbursement dynamics in the hospital outpatient setting. Medicare reimbursement for Neuraceq is comparatively lower to than that of competitors, which could affect customer purchasing decisions.

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We continue to seek ways to increase the overall value of our portfolio of products and product candidates. We are evaluating a number of different evaluate opportunities to collaborate, in-license or acquire additional products, product candidates, businesses and technologies to drive our future growth. In particular, with respect to our Strategic Partnerships and Other Revenue category, we are focused on radiopharmaceutical product opportunities in oncology, neurology, and other strategic areas that will complement our existing portfolio.

Our Strategic Partnerships and Other Revenue category includes our Strategic Partnerships, Digital Solutions, PharmaSolutions Pharma Solutions and CDMO services and is focused on enabling precision medicine with biomarkers, digital solutions and CDMO services.

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• PharmaSolutions Pharma Solutions – We use our PharmaSolutions Pharma Solutions business to offer our Biomarker and Microbubble Platforms to pharmaceutical companies to support their R&D of therapeutic drugs and devices. The strategic goal of our PharmaSolutions Pharma Solutions business is to gain early access to innovation, de-risk the development, generate data, embed our technologies in the clinical ecosystem and establish the clinical utility of product candidates and research tools in our pipeline. Our biomarkers are intended to support patient selection and the monitoring of disease progression.

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• For PYLARIFY, we are reviewing data from a clinical trial to determine evaluating whether PYLARIFY can detect the presence or absence of additional prostate cancer lesions in patients with favorable intermediate-risk prostate cancer, as well as how it may change the patient's its potential impact on intended patient management. In late 2025, we discontinued a study using piflufolastat to diagnose and describe the extent of clear cell renal carcinoma in patients due to enrollment and timeline challenges and not for safety reasons as we prioritized resources towards programs with more feasible development paths.

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• For LNTH-2515 (florbetaben F-18 injection), we acquired the rights to the asset through our acquisition of Lantheus Biosciences (formerly Life Molecular). LNTH-2515 is approved in the United States and certain other countries to estimate amyloid beta neuritic plaque density in adults with cognitive impairment and is commercialized under the brand name Neuraceq. LNTH-2515 is currently being developed for the diagnosis of amyloid light chain and transthyretin cardiac amyloidosis. FDA has granted Fast Track designation for this indication.

• For PNT2002 and PNT2003, we were granted a license to exclusive worldwide rights (excluding certain countries) for $260.0 million in upfront payments during the fourth quarter of 2022 and will potentially make additional payments as described below. We also filed an ANDA for PNT2003 as described further in the section entitled "Exclusive License for PNT2002 and PNT2003" in Part I, Item 1. "Business - Other Notable Transactions" of our Form 10-K for the year ended December 31, 2025. In March 2026, we announced that the FDA granted tentative approval of the ANDA for PNT2003.

in Part I, Item 1. "Business - Other Notable Transactions" of our Form 10-K for the year ended December 31, 2025. On September 22, 2026, we announced that the FDA granted final approval of the ANDA for PNT2003 under the brand name BRAVNETSA (lutetium Lu 177 dotatate). As a result of the approval of BRAVNETSA, we were obligated to make a $10.0 million regulatory milestone payment, to be paid during the fourth quarter of 2026. BRAVNETSA is indicated for the treatment of adult patients with SSTR+ GEP-NETs, including foregut, midgut, and hindgut neuroendocrine tumors.

• For LNTH-2501, we acquired the rights to the investigational asset in the Evergreen Acquisition. In October 2025, the FDA established a PDUFA target action date of March 29, 2026, for the NDA for LNTH‑2501, which was submitted under the FDA's 505(b)(2) regulatory pathway. On March 17, 2026, we announced that the FDA extended its review of the NDA by three months, resulting in a revised PDUFA target action date of June 29, 2026. On June 26, 2026, we announced that the FDA issued a CRL regarding the NDA, stating that the agency could not approve the NDA by the June 29, 2026 extended PDUFA target action date due to unresolved third-party facility manufacturing-related conditions. The third-party facility is responsible for drug product manufacturing. Satisfactory resolution of the unresolved facility inspection-related conditions and approval of a resubmitted NDA is required before the LNTH-2501 NDA may be approved. The CRL did not identify any concerns regarding the data we submitted in support of the application, nor did it identify any issues related to the safety or efficacy of LNTH-2501.

• For MK-6240, we acquired the right to the investigational asset for an upfront payment of $35.3 million in February 2023, and an additional $10.0 million in May 2023 upon the successful completion of a technology transfer and will $13.0 million in September 2026 upon FDA approval of MK-6240. We could potentially make additional milestone and royalty payments in the future. During the second quarter of 2025, we announced that MK-6240 successfully met its co-primary endpoints in two pivotal studies assessing its sensitivity and specificity. The data from these two studies supported an NDA submission to the FDA that we filed during the third quarter of 2025. The FDA accepted our NDA and set a PDUFA target action date of August 13, 2026 and on August 14, 2026, we announced the FDA approval of TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240. TAUKLARIFY is indicated for PET imaging of the brain in adults with cognitive impairment who are being evaluated for Alzheimer's disease to identify patients with tau neurofibrillary tangle pathology.

• For NAV-4694, we acquired the rights to the investigational asset for an upfront payment of $32.9 million in June 2024 and an additional $10.0 million in August 2024 upon the successful completion of a technology transfer and will potentially make additional milestone and royalty payments. In May 2025, we paid AstraZeneca AB ("AstraZeneca") a $10.0 million one-time, non-refundable upfront payment to reduce the future royalty obligations owed to AstraZeneca, pursuant to a license agreement between AstraZeneca and Meilleur Technologies, Inc. (which has subsequently merged with and into Cerveau) related to NAV-4694.

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• For RM2, we acquired global rights for an upfront payment of $35.0 million plus a $1.0 million payment made prior to the acquisition, incurred €10.0 million in regulatory milestones in 2025, and could potentially make additional milestone and royalty payments in the future. On September 28, 2026, we plan to initiate our announced that the first patient has been dosed in SPARROW, a Phase 2/3 registrational program for trial evaluating LNTH-2401. LNTH-2401 is an investigational Ga-68-labeled PET imaging agent that targets GRPR, a biomarker that is highly expressed in patients with many prostate cancer this year. cancers.

• For LNTH-2403, and LNTH-2404, we acquired the rights to the preclinical assets asset and the underlying license agreements, along with another asset, for $2.0 million in the aggregate, and will potentially make additional milestone and royalty payments. The rights we acquired included exclusive license rights from third-party licensors. We ultimately were assigned all intellectual property rights to LNTH-2403 from the original third-party licensor and have certain financial obligations in the form of license fees and indemnification provisions to the third-party licensor as a result of that assignment. We submitted an IND investigational new drug application for LNTH-2403 and have initiated a Phase 1/2 multi-center, open-label study in participants with relapsed / refractory relapsed/refractory osteosarcoma.

See Note 17, 18, "Acquisitions" in our condensed consolidated financial statements herein and Note 19, "Acquisitions" in our consolidated financial statements in our Form 10-K for additional information on potential milestone and royalty payments related to the product candidates listed above.

Under the terms of the PNT2002 license and collaboration agreement we paid between Lantheus Two and POINT Biopharma Global Inc. ("POINT"), dated November 11, 2022, we paid POINT an upfront cash payment of $250.0 million. The Phase 3 registrational clinical trial for PNT2002, known as the "SPLASH" study, reached 100% of pre-specified overall survival events. The results of the readout were comparable to the previously reported 46% and 75% readouts and remain confounded by the overwhelming number of patients who crossed over within the study to receive PNT2002.

Under the terms of the PNT2003 license and collaboration agreement between Lantheus Three and POINT, dated November 11, 2022 we paid POINT an upfront payment of $10.0 million in December 2022 and will pay another $10.0 million in the fourth quarter of 2026 upon the final regulatory approval for BRAVNETSA, previously known as PNT2003, announced on September 22, 2026. We could pay up to an additional $34.5 $24.5 million in milestone payments upon the achievement of specified U.S. and ex-U.S. regulatory milestones. POINT is also eligible to receive up to $275.0 million in sales milestone payments upon the achievement of specified annual sales thresholds of PNT2003. In addition, POINT is eligible to receive royalty payments of 15% of net sales of PNT2003.

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Net loss (gain) on investment in equity securities - unrealized loss (gain)

Loss (gain) on sale of business, net of transaction costs

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Income tax (benefit) expense

Comparison of the Periods Ended June September 30, 2026 and 2025

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Six Months Ended June 30,

Three Months Ended June September 30,

Nine Months Ended September 30,

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The increase in revenues for the three months ended June September 30, 2026, as compared to the same period of 2025, was primarily driven by revenues an increase in revenue generated from sales of Neuraceq subsequent to our acquisition of Lantheus Biosciences in July 2025, for which there were no comparable amounts in the same period of 2025, as well as an increase in sales volume for both PYLARIFY and DEFINITY sales volume and from revenue generated an increase in royalties and milestone payments received from GE HealthCare related to the commercial sales of MK-6240 for investigational use. Flyrcado. These increases were partially offset by a decrease in net sales price of PYLARIFY in 2026 and by revenue related to the SPECT business recognized during the three months ended June September 30, 2025 for which there is no comparable amount in the same period of 2026, as well as a decrease in PYLARIFY net sales price for the three months ended September 30, 2026.

The increase in revenue for the six nine months ended June September 30, 2026, as compared to the same period of 2025, was primarily due to nine months of revenue generated from sales of Neuraceq subsequent to our acquisition of Lantheus Biosciences in July 2025, compared to only two plus months of revenue generated from sales of Neuraceq for which there were no comparable amounts in the same period of 2025. Additionally, an the increase in revenue resulted from an increase in reflects higher PYLARIFY and DEFINITY sales volume in 2026 and an increase in royalties and milestone payments received from GE HealthCare related to the commercial sales of Flyrcado. These increases were partially offset by a decrease in revenue related to the SPECT business recognized during the six nine months ended June September 30, 2025 for which there is no comparable amount in 2026, as well as a decrease in net sales price of PYLARIFY in 2026 and to a milestone achievement for the first commercial sale of Flyrcado by GE Healthcare in 2025 for which there was no comparable amount in nine months ended September 30, 2026.

Estimates for rebates represent our estimated obligations under contractual arrangements with third parties. Rebate accruals are recorded in the same period the related revenue is recognized, resulting in a reduction of revenue and the establishment of a liability which is included in accrued expenses and other current liabilities in our condensed consolidated balance sheets. These rebates result from performance-based offers that are primarily based on attaining contractually specified sales volumes and growth, market share, Medicaid rebate programs for our products, administrative fees of group purchasing organizations and certain distributor-related commissions. The calculation of the accrual for these rebates is based on an estimate of the third-party's expected purchases and the resulting applicable contractual rebate to be earned over a contractual period.

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Balance at June September 30, 2026

The increase increases in gross profit for the three months ended June September 30, 2026, as compared to the prior year period, is primarily due to an increase in revenue from Neuraceq subsequent to the July 2025 acquisition of Lantheus Biosciences, increased PYLARIFY and DEFINITY sales volume, and an increase in Flyrcado revenue from MK-6240 and a decrease in costs related to corporate projects completed in 2025 for investigational use. which there are no comparable costs in 2026. These increases were partially offset by a decrease in gross profit from PYLARIFY net sales price, additional amortization of intangible assets resulting from the acquisition of Lantheus Biosciences for which there were no comparable amounts recorded during the three months ended June 30, 2025. There were also decreases resulting from a decrease in PYLARIFY net sales price, an increase in contractual vendor pricing and the sale of our SPECT business in January 2026.

The decrease increase in gross profit for the six nine months ended June September 30, 2026, as compared to the prior year period, is primarily due to the decrease an increase in revenue from Neuraceq subsequent to the July 2025 acquisition of Lantheus Biosciences, increased PYLARIFY net and DEFINITY sales price, which had volume, a greater impact decrease in costs related to corporate projects completed in 2025 for the six-month comparison than which there are no comparable costs in 2026 and an increase in revenue from MK-6240 for the three-month comparison. The remaining decreases investigational use. These increases were attributable to partially offset by a decrease in gross profit from PYLARIFY net sales price, additional amortization of intangible assets resulting from the July 2025 acquisition of Lantheus Biosciences for which there were no comparable amounts recorded (a full nine months in 2026, compared to approximately two months during the six months ended June 30, same period in 2025), and an increase in contractual vendor pricing and the sale of our SPECT business in January 2026. offset by an increase in revenue from MK-6240 for investigational use.

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Sales and marketing expenses decreased $0.8 million for the three months ended September 30, 2026, as compared to the same period of 2025. This was primarily due to a decrease in launch preparation costs for PYLARIFY TruVu and a decrease in employee-related costs.

Sales and marketing expenses increased $41.8 million and $51.9 $51.2 million for the three and six nine months ended June September 30, 2026, respectively, as compared to the same periods period of 2025. This was primarily due to a $30.0 million obligation recognized in June 2026 related to our agreement to repurchase rights to the DEFINITY license in China from our distributor. See Note 15, "Commitments and Contingencies" to our condensed consolidated financial statements for more information on the payments to our distributor. In addition, there was an increase in employee-related costs in connection with sales of Neuraceq subsequent to the acquisition of Lantheus Biosciences and an increase in marketing expenditures related to launch preparations, primarily for PYLARIFY TruVu.

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General and administrative expenses decreased $45.9 million and $45.2 $11.5 million for the three and six months ended June September 30, 2026, respectively, as compared to prior year periods. the same period of 2025. This was primarily driven by the change in fair value of contingent consideration obligations from the acquisitions of Evergreen and Lantheus Biosciences, resulting in a $31.8 $26.4 million decrease to general and administrative expenses recorded during the three months ended June 2026. Additional decreases resulted from in non-recurring expenses related to the acquisition and integration of Evergreen and Lantheus Biosciences and the divestiture of our SPECT business recorded during the three and six months ended June September 30, 2025, for which there are no comparable amounts in 2026, and compared to the same period of 2025, a $2.8 million decrease in stock stock-based compensation expenses primarily due to the departure of executive-level employees at the end of 2025. and during the first half of 2026. Partially offsetting these decreases were offset by an increase in employee-related are increases that include costs related to the proposed Merger, primarily legal and other advisor costs of $18.6 million, for each of the three and six nine months ended June September 30, 2026, due to for which there are no comparable amounts recorded for the same period of 2025 and a $3.2 million increase resulting from the change in headcount fair value of contingent consideration obligations from the Company's business acquisitions in 2025. of Evergreen and Lantheus Biosciences.

General and administrative expenses decreased $56.7 million for the nine months ended September 30, 2026, as compared to the same period of 2025. This was primarily driven by a $41.2 million decrease in non-recurring expenses related to the acquisition and integration of Evergreen and Lantheus Biosciences and the divestiture of our SPECT business recorded during the nine months ended September 30, 2026, compared to the same period of 2025, an $8.4 million decrease in stock-based compensation expenses due to the departure of executive-level employees at the end of 2025 and a $28.6 million decrease resulting from the change in fair value of contingent consideration obligations from the acquisitions of Evergreen and Lantheus Biosciences. Offsetting these decreases is an $18.6 million increase in costs related to the proposed Merger, primarily legal and other advisor costs, for which there are no comparable amounts recorded for the same period of 2025. In addition there was an increase in employee-related costs for the nine months ended September 30, 2026 due to the increase in headcount from the Company's business acquisitions in 2025.

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R&D expenses decreased $4.2 million for the six months ended June 30, 2026, as compared to the same prior year period. This was primarily driven by a payment to AstraZeneca of $10.0 million in May 2025 to reduce future royalty obligations for NAV-4694 and a payment of $5.4 million to Lantheus Biosciences related to regulatory activities for LNTH-2401, for which there were no comparable amounts paid in 2026. Additional R&D expenses incurred in 2025 that did not have comparable amounts in 2026 include Evergreen integration costs of $3.3 million and $2.2 million in costs related to the FDA new drug application submission for PYLARIFY TruVu. These decreases were partially offset by the $16.2 million impact of the acquisitions of Lantheus Biosciences in July 2025 and Evergreen in April 2025.

R&D expenses increased $44.7 million for the three months ended September 30, 2026, as compared to the same prior year period. This was primarily driven by impairment charges of $21.0 million and $10.0 million recorded for LNTH-2620 (previously referred to as PI-2620) and LNTH-2515, respectively, during the three months ended September 30, 2026 as well as charges incurred in connection with regulatory milestone obligations due upon the FDA approval for TAUKLARIFY and BRAVNETSA of $14.3 million and $10.0 million, respectively. These increases were partially offset by the absence of $5.0 million of costs incurred in 2025 related to our NDA submission for TAUKLARIFY and reduced R&D support for a number of projects in 2026, as compared to 2025, including costs related to the acquisition and integration of Lantheus Biosciences, which decreased $1.4 million for the three months ended September 30, 2026, as compared to the same period of 2025.

R&D expenses decreased $7.3 increased $40.5 million for the three nine months ended June September 30, 2026, as compared to the same prior year period. This was primarily driven by impairment charges of $21.0 million and $10.0 million recorded for LNTH-2620 and LNTH-2515, respectively, during the nine months ended September 30, 2026, as well as charges incurred in connection with regulatory milestone obligations due upon the FDA approval for TAUKLARIFY and BRAVNETSA of $14.3 million and $10.0 million, respectively. There was also a $16.0 million impact related to the acquisition of Lantheus Biosciences in July 2025. The increases were partially offset by 2025 payments that did not recur in 2026, including a payment to AstraZeneca of $10.0 million in May 2025 to reduce future royalty obligations for NAV-4694 for which there was no comparable amount paid in 2026. Additional R&D expenses incurred in 2025 that did not have comparable amounts in 2026 include Evergreen integration costs of $3.3 million and $2.2 million in costs related to the FDA new drug application submission for PYLARIFY TruVu. These decreases were partially offset by the $9.1 million impact of the acquisition of Lantheus Biosciences in July 2025.

Loss (Gain) on Sale of Assets Business, Net of Transaction Costs

As a result of the sale of our SPECT business on January 1, 2026, we recognized a gain loss on sale of business, net of transaction costs, of $0.2 million and $59.5 $0.1 million for the three months ended September 30, 2026 related to asset true-ups and six a gain of $59.4 million for the nine months ended June September 30, 2026 We recorded following a post-closing working capital settlement related to the sale of our SPECT business, which was partially offset by miscellaneous asset and liability true-ups in recorded during the three month nine-month period ended June September 30, 2026.

Net Loss (Gain) on Investment in Equity Securities - Unrealized Loss (Gain)

Each quarter, our investments in equity securities of Radiopharm and Perspective are revalued to market price. Net loss (gain) on investment in equity securities - unrealized loss (gain) decreased $24.1 $13.3 million from a gain to a loss for the three months ended June September 30, 2026, as compared to the same period of 2025. We recorded an unrealized loss on the investment in Radiopharm of $0.8 $5.0 million and an unrealized loss on the investment in Perspective of $8.9 $4.9 million during the three months ended June September 30, 2026, compared to an unrealized loss gain on the investment in Radiopharm of $0.8 $1.2 million and an unrealized gain loss on the investment in Perspective of $15.3 $0.1 million for the three months ended June September 30, 2025.

Net loss (gain) on investment in equity securities - unrealized loss (gain) decreased $5.7 $7.7 million from a loss gain to a gain loss for the six nine months ended June September 30, 2026, compared to the same period of 2025. For the six nine months ended June September 30, 2026, we recorded an unrealized loss on the investment in Radiopharm of $2.4 $7.4 million, excluding unrealized gain on change in foreign exchange rate of $0.6 million, and recorded an unrealized gain on the investment in Perspective of $7.7 $2.8 million. This is compared to an unrealized loss on the investment in Radiopharm of $3.3 $2.0 million and an unrealized gain on the investment in Perspective of $2.9 $2.8 million recorded for the six nine months ended June September 30, 2025.

Upon the sale of 2,938,328 Perspective Shares, we realized a loss of $2.3 million during the three and nine months ended September 30, 2026, which was recorded to net loss (gain) on investment in equity securities in our condensed consolidated statements of operations for the three and nine months ended September 30, 2026.

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and 25 more changes in the filing

Market risk 2 changes

For quantitative and qualitative disclosures about market risk, see Part II, Item 7A. "Quantitative and Qualitative Disclosures About Market Risk," of our Annual Report on Form 10-K for the year ended December 31, 2025. Our exposures to market risk have not changed materially since December 31, 2025.

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As of June September 30, 2026, our recorded carrying value of investments in equity securities was $116.9 $96.3 million, comprised of our equity investments in Perspective Therapeutics, Inc. ("Perspective") and Radiopharm Theranostics Limited ("Radiopharm") and our investment in Series E-1 convertible preferred stock of Illuminated Holdings, Inc. ("Series E-1 Preferred"). The equity investments in Perspective and Radiopharm are recorded at fair value, subject to market price volatility. We record our equity investments in public companies at fair value and adjust our equity investments in public companies for observable price changes or impairments. Valuations of public companies are variable and subject to change in share price at the applicable measurement period. We elected the measurement alternative for our investment in the Series E-1 Preferred because the shares do not have a readily determinable fair value. Under this alternative, we measure investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes.

Controls and procedures 2 changes

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The Company's management, with the participation of the Company's Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), its principal executive officer and principal financial officer, respectively, has evaluated the effectiveness of the Company's disclosure controls and procedures as defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Based on that evaluation, the Company's CEO and CFO concluded that the Company's disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) were effective as of the end of the period covered by this report.

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There were no changes in our internal control over financial reporting during the three months ended June September 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Risk factors 28 changes

There have been no material changes to the risk factors set forth in our Annual Report on Form 10-K (our "Form 10-K") for the year ended December 31, 2025, (our "Form 10-K"), except as set forth below:

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The completion of the Merger is subject to the fulfillment or waiver of certain customary mutual closing conditions, including, among other things, (i) the adoption of the Merger Agreement by the affirmative vote of the holders of a majority of the outstanding shares of our common stock entitled to vote at our shareholders meeting, (ii) the absence of any law or order by a governmental authority of competent jurisdiction prohibiting or otherwise making illegal the consummation of the Merger, (iii) (ii) the expiration or termination of the applicable waiting period (or any extensions thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (iv) (the "HSR Act"), (iii) that no voluntary agreement between the parties and a governmental entity not to consummate the Merger shall be in effect and (v) (iv) that certain other specified approvals, filings, notifications, clearances or expirations or terminations of waiting periods shall have occurred or been obtained, made or waived, as applicable. The obligation of each party to consummate the Merger is also conditioned upon (i) the accuracy of the other party's representations and warranties, (subject, in certain cases, to certain customary materiality qualifications) and (ii) the other party's performance or compliance in all material respects with its obligations under the Merger Agreement. In addition, the obligation of the Parent and Merger Sub to consummate the Merger is also conditioned up on there being upon no continuing Company Material Adverse Effect (as defined in the Merger Agreement) having occurred that is continuing at the effective time of the Merger. In addition, we have certain customary termination rights pursuant to the Merger Agreement, including our right to terminate the Merger Agreement to accept a "Superior Proposal" (as defined in the Merger Agreement) subject to compliance with certain procedures specified in the Merger Agreement. As a result, we cannot assure you that all of the various closing conditions will be satisfied and that the Merger with the Parent will be completed, or that, if completed, it will be exactly on the terms set forth in the Merger Agreement or within the expected time frame.

On October 21, 2026, we received a request for additional information and documentary materials (a "Second Request") from the Federal Trade Commission (the "FTC") in connection with the FTC's review of the Merger. The effect of a Second Request is to extend the waiting period imposed by the HSR Act until 30 days after we and the Parent each have substantially complied with the Second Request issued to it, unless that period is terminated sooner by the FTC. Completion of the Merger remains subject to the expiration or termination of the waiting period under the HSR Act and the satisfaction or waiver of the other closing conditions specified in the Merger Agreement. Governmental authorities could seek to impose conditions on the Merger, including divestitures or other remedies, or seek to block it.

If the Merger is not completed within the expected time frame or at all, we may be subject to a number of material risks. The price of our common stock may decline to the extent that for a number of reasons, including because the current market price may reflect expectations regarding completion of our common stock reflects a market assumption that the Merger. will be completed. We could also be required to pay the Parent a termination fee if the Merger Agreement is terminated under specific circumstances set forth in the Merger Agreement. The failure to complete the Merger also may result in negative publicity, a decline in investor confidence, stockholder litigation being brought against us, adverse impacts to our relationships with our existing and prospective employees, collaborators, customers, regulators, suppliers and other business partners, us being unable to recruit prospective employees or to retain and motivate existing employees, and adverse financial impacts due to costs incurred in connection with the Merger. We may also be required to devote significant time and resources to litigation related to any failure to complete the Merger or related to any enforcement proceeding commenced against us to perform our obligations under the Merger Agreement.

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Our efforts to complete the Merger could cause substantial disruptions in, and create uncertainty surrounding, our business, which may materially adversely affect our results of operation operations and our business. Uncertainty as to whether the Merger will be completed may affect our ability to recruit prospective employees or to retain and motivate existing employees. Employee retention may be particularly challenging while the Merger is pending because employees may experience uncertainty about their roles following consummation of the Merger. Our management's and certain of our employees' attention is being directed toward the completion of the Merger and thus is being diverted to some extent from our day-to-day operations or other strategic initiatives we might pursue. In addition, to the extent the FTC requires us to divest assets as a condition to completing the Merger, some of our management's and certain of our employees' attention would be directed towards negotiation and completion of such divestitures and the terms and conditions of such divestitures could be on terms less favorable to us than they might otherwise be if not done as a condition to completing the Merger.

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Under the terms of the Merger Agreement, we have agreed to certain restrictions (unless approved by the Parent) on the operations of our business that could harm our business relationships, financial condition, operating results, cash flows and business, including restrictions with respect to our ability to, among other things, subject to certain specified exceptions: incur capital expenditures in excess of a specified aggregate amount for an applicable calendar year, incur or assume any long-term or short-term indebtedness for borrowed money or materially modify the terms of any indebtedness for borrowed money other than revolver borrowings or letters of credit in the ordinary course of business, commence any clinical study, except for select studies or discontinue, terminate or suspend any ongoing clinical study other than (i) for efficacy or safety reasons, (ii) as mandated by any health regulatory authority or (iii) pursuant to any discontinuation, termination or suspension, for bona fide business reasons. Because of these restrictions, we may be prevented or delayed from undertaking certain actions with respect to the conduct of our business that we might otherwise have taken if not for the Merger Agreement. Such restrictions could prevent or delay us from pursuing certain business opportunities that arise prior to the effective time of the Merger and are outside the ordinary course of business and could otherwise adversely affect our business and operations prior to completion of the Merger or could prevent or delay actions that could otherwise enable future growth.

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Lawsuits relating to the Merger could have been, and additional lawsuits may be, filed against us, including by our stockholders.

Litigation is common in connection with acquisitions of public companies in the United States, regardless of any merits related to the underlying acquisition. Following the filing of our definitive proxy statement relating to the Merger on September 8, 2026, three complaints were filed by purported stockholders against us and certain members of our Board in connection with the Merger (the "Merger Complaints"). The Merger Complaints generally alleged, among other things, that the definitive proxy statement omitted or misrepresented certain material information and asserted claims under state common law. In addition, we have received sixteen demand letters from purported stockholders, two of which attached a draft complaint, making similar allegations to the Merger Complaints. On October 2, 2026, solely to avoid the costs, burden, nuisance and uncertainties inherent in litigation, and without admitting any liability or wrongdoing, we filed supplemental disclosures to the definitive proxy statement. On October 14, 2026, our stockholders adopted the Merger Agreement and approved related proposals at a special meeting of stockholders. We believe the complaints and demand letters are without merit.

Although litigation is common Additional demand letters may be received, and additional lawsuits may be filed, against us, members of our Board, the Parent and/or the Merger Sub in connection with acquisitions of public companies in the United States, regardless of any merits related to the underlying acquisition, Merger, and we will not necessarily announce such additional demands or filings. The outcome of any pending or future lawsuits filed against us is uncertain and could delay or prevent completion of the Merger. We may not be successful in defending against any such claims. Additionally, the costs of defense of such litigation, including costs associated with the indemnification of directors and officers, and other effects, such as negative publicity or damage to our relationships with business partners, suppliers and customers, could have an adverse effect on our business, financial condition and operating results.

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At the time the Merger is completed, each issued and outstanding share of our common stock (other than certain excluded shares and shares for which appraisal rights have been properly exercised) will be automatically cancelled and converted into the right to receive $102.50 per share in cash, without interest, plus a one non-transferable CVR representing the right to receive up to $12.00 in cash, for total potential consideration of up to $114.50 per share in cash. The non-transferable CVR will be issued to our stockholders at closing and paid, in whole or in part, following achievement of certain specified milestones. There can be no assurance that any payment will be made under the CVR, or regarding the amount or timing of any such payment. As mentioned above, any amounts to be received in connection with the CVR are contingent upon the achievement of certain specified milestones, which may or may not occur.

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On March 6, 2026, the U.S. Food and Drug Administration (the "FDA") approved PYLARIFY TruVu (piflufolastat F-18), a new formulation of our F-18 PSMA PET imaging agent. PYLARIFY TruVu is designed to enhance product stability at higher radioactive concentrations, supporting more efficient manufacturing and distribution, including the potential to increase batch sizes and serve broader geographic markets. PYLARIFY TruVu is expected to become commercially available beginning in the fourth quarter of 2026 and will be introduced on a rolling geographic basis, with the intent to transition customers from PYLARIFY to PYLARIFY TruVu. It is anticipated that once a PET manufacturing facility ("PMF") site receives FDA approval to manufacture PYLARIFY TruVu and begins to supply PYLARIFY TruVu commercially, it will no longer supply PYLARIFY . We plan to work closely with clinicians and PET manufacturing facility PMF sites to support a smooth transition, including providing guidance on ordering, handling, and clinical use to support continuity of care. We are also pursuing reimbursement for PYLARIFY TruVu from On July 24, 2026, the Centers for Medicare and Medicaid Services ("CMS") including seeking three years of transitional pass-through payment status ("TPT Status"). In the second quarter of 2026, we submitted applications for both granted a Healthcare Common Procedure Coding System ("HCPCS") coding and TPT Status, code for PYLARIFY TruVu, with a targeted an effective date of October 1, 2026. effective date for both. On July 24, September 30, 2026, we announced that CMS granted a HCPCS code TPT Status for PYLARIFY TruVu, with an effective date of October 1, 2026. However, TPT Status is temporary, and there can be no assurance that PYLARIFY TruVu will continue to receive adequate coding, coverage and payment after TPT Status expires. We can provide no assurance that we will be able to complete the technology transfer across our PMF network for PYLARIFY TruVu or obtain FDA approval for each PMF site to manufacture PYLARIFY TruVu on our expected timeline or at all. Additionally, we may be unable to obtain adequate coverage and payment, including TPT Status, for PYLARIFY TruVu on our expected timeline or at all, and payers may not add the HCPCS code to their systems on our expected timeline. Furthermore, there is no assurance that any customer transition will occur on our expected timeline or that our customers will adopt PYLARIFY TruVu at all. If customers do not adopt PYLARIFY TruVu we may not be able to reintroduce PYLARIFY and we would then lose customers to competitors which would have an adverse effect on our business, results of operations, financial condition and cash flows. All of the risks as described in Part I, Item 1A, " Risk Factors" in our Form 10-K with respect to our ability to continue to generate substantial revenue from PYLARIFY, as well as the risks associated with launching a product, also apply to PYLARIFY TruVu, and we can provide no assurances that the anticipated increase in batch size or other expected improvements associated with the design of the new formulation will be realized or be viewed in the market as differentiating factors.

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In April 2025, we acquired Evergreen, including the rights to LNTH-2501. On October 30, 2025, we announced that the FDA had accepted our New Drug Application ("NDA") for LNTH-2501 and set a PDUFA target action date of March 29, 2026. On March 17, 2026, the FDA extended its review of the NDA, moving the PDUFA target action date to June 29, 2026, which would allow the FDA additional time to review and consider further manufacturing-related information. On June 26, 2026, we announced that the FDA issued a Complete Response Letter ("CRL") regarding the NDA, stating that the agency could not approve the NDA by the June 29, 2026 extended PDUFA target action date due to unresolved third-party facility manufacturing-related conditions. The third-party facility is responsible for drug product manufacturing. Satisfactory resolution of the unresolved facility inspection-related conditions and approval of a resubmitted NDA is required before the LNTH-2501 NDA may be approved. The CRL did not identify any concerns regarding the data we submitted in support of the application, nor did it identify any issues related to the safety or efficacy of LNTH-2501. We can provide no assurance that the third-party facility manufacturing-related conditions identified in the CRL will be resolved in a manner satisfactory to the FDA, that LNTH-2501 will be approved by the FDA in a timely manner or at all. If LNTH-2501 is approved, there is no guarantee that we will be successful in gaining post-approval market acceptance and adequate coding, coverage, and payment for LNTH-2501 or that our manufacturer will be able to successfully develop and scale the manufacturing capabilities to support the launch of LNTH-2501. Even if we do receive NDA approval, all of the risks as described in Part I, Item 1A, " Risk Factors" in our Form 10-K with respect to launching a product would apply to LNTH-2501. Additionally, LNTH-2501 is a kit product with a supply chain that differs from that of our other commercial products, which may introduce additional operational complexity, coordination requirements, and sourcing and supply risks, and we can provide no assurance that we will be able to successfully or timely launch LNTH-2501, achieve anticipated adoption, or realize expected commercial results.

We may not, or may take longer to, realize the expected benefits and opportunities related to the POINT Biopharma Global Inc. ("POINT") License Agreements, including PNT2003. investments we have made to develop diagnostic product candidates to be used in diagnosing, staging and monitoring Alzheimer's disease.

As part of our acquisition of Lantheus Biosciences (formerly Life Molecular Imaging Limited), we acquired LNTH-2620 (previously referred to as PI-2620), a tau PET imaging agent. On August 14, 2026, we announced that the FDA approved TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240. As a result, there is no near-term plan to commercialize the asset.

During 2024, we acquired Meilleur Technologies, Inc. (which has subsequently merged with and into Cerveau), which holds the rights under a license agreement to develop and commercialize NAV-4694, an investigational late-stage F-18-labeled PET imaging agent that targets beta amyloid in Alzheimer's disease. NAV-4694 is currently in Phase 3 development and is also being used in academic and industry sponsored clinical trials.

Previously, we acquired MK-6240, an F-18-labeled PET imaging agent that targets tau tangles. On August 14, 2026, we announced that the FDA approved TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240, for PET imaging of the brain in adults with cognitive impairment who are being evaluated for Alzheimer's disease to identify patients with tau neurofibrillary tangle pathology. We intend to continue supporting the use of TAUKLARIFY in Alzheimer's disease therapeutic programs through our Pharma Solutions business while assessing the appropriate path and timing toward broader commercial availability, but we can provide no assurance that we will be successful in the broader commercialization of TAUKLARIFY, including obtaining FDA approval for each PMF we select to manufacture TAUKLARIFY, obtaining adequate coding, coverage and payment, including TPT Status, for TAUKLARIFY and having physicians and customers adopt TAUKLARIFY.

While we believe that TAUKLARIFY, as a tau imaging agent, and NAV-4694, as a beta amyloid imaging agent, have the potential to expand our neurology franchise that also includes Neuraceq and could play an important role in diagnosing, staging and monitoring Alzheimer's disease, we can give no assurance that we will be successful with continued development, regulatory approval and commercialization of these products and product candidates or that we will be able to resolve any disagreements with the counterparties to our license agreements or the former stockholders of the companies we acquired who could receive future milestone and royalty-based payments, including any disagreements over proprietary rights, contract interpretation or the preferred course of product research, development or marketing that might cause delays or termination of the license agreements, or might result in litigation or arbitration, which could be time-consuming and expensive. In addition, the successful acceptance and use of these diagnostic products and product candidates will depend on the successful development by pharmaceutical companies of disease-modifying treatments for Alzheimer's disease, as well as the inclusion of our products in the prescribing information or guidelines for such disease-modifying treatments.

We may not, or may take longer to, realize the expected benefits and opportunities related to, the POINT Biopharma Global Inc. ("POINT") License Agreements, including BRAVNETSA (previously known as PNT2003).

On December 20, 2022, we announced the closing of a set of strategic collaborations with an affiliate of POINT, in which we were granted a license to exclusive worldwide rights (excluding Japan, South Korea, China (including Hong Kong, Macau and Taiwan), Singapore and Indonesia) to co-develop and commercialize POINT's PNT2003 and PNT2002 product candidates (the "POINT License Agreements"). The expected benefits and opportunities related to the POINT License Agreements and related agreements for the supply of PNT2003 by POINT may not be realized or may take longer to realize than expected due to, for example, challenges and uncertainties inherent in product research, development, manufacturing, regulatory approval, marketing and competition. In particular, activities under the POINT License Agreements may not result in viable products suitable for commercialization in a timely manner or at all, due to a variety of reasons, including any inability of the relevant parties to perform their commitments and obligations under the POINT License Agreements, our ability to obtain final FDA approval for PNT2003, to successfully defend the favorable U.S. District Court ruling invalidating all patents asserted by Advanced Accelerator Applications USA, Inc. and Advanced Accelerator Applications SA as part of the PNT2003 Hatch-Waxman litigation through any appeals, and, if approved by including the FDA, appeal currently pending before the U.S. Court of Appeals for the Federal Circuit, and the timing, execution and success of launching and commercializing BRAVNETSA (lutetium Lu 177 dotatate), previously known as PNT2003. The POINT License Agreements impose various development, regulatory filing, commercialization and other obligations on us, and require us to meet development timelines or to exercise commercially reasonable efforts to develop and commercialize licensed products.

With respect to PNT2003, in March 2026, we announced tentative approval of our Abbreviated New Drug Application ("ANDA") for PNT2003, which indicates and on September 22, 2026, we announced that the FDA has completed its review granted final approval of the ANDA and determined that it meets the requirements for approval. BRAVNETSA. The timing and success of our launch will consider the following factors: depend on, among other things, the timing of final FDA approval and disposition of legal proceedings related to the Hatch-Waxman process, including the pending appeal, as well as manufacturing and commercial readiness to ensure launch success. Even if we do receive ANDA approval, All of the risks as described in Part I, Item 1A, " Risk Factors" in our Form 10-K with respect to launching and successfully commercializing a radiopharmaceutical product as well as those related to our dependence on third parties for the manufacturing of products would apply to PNT2003. BRAVNETSA

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On January 1, 2026, as a result of the sale of the Company's SPECT business pursuant to the Equity and Asset Purchase Agreement, by and among Lantheus Medical, Lantheus MI Canada, Inc., Lantheus EU Limited, and Illuminated Holdings, Inc. ("Illuminated"), SHINE

On January 1, 2026, as a result of the sale of the Company's SPECT business pursuant to the Equity and Asset Purchase Agreement, by and among Lantheus Medical, Lantheus MI Canada, Inc., Lantheus EU Limited, and Illuminated Holdings, Inc. ("Illuminated"), SHINE SPECT, LLC, SHINE SPECT Medical Products, Ltd., and SHINE SPECT Limited (collectively referred to as "SHINE SPECT"), dated as of May 1, 2025 (the "SHINE SPECT Agreement"), we are entitled to receive future and contingent consideration, including (i) a seller note with a principal amount of $20.0 million (the "Seller Note"), which bears interest at 8.0% per year payable semi-annually (with up to half payable in-kind) and matures on the earlier of January 1, 2029 or completion of an initial public offering by Illuminated (a "SHINE IPO"), and which may be repaid earlier in certain circumstances, including in connection with a change in control or a material financing, as defined in the governing note agreement, and (ii) $20.0 million in cash on the earlier of January 1, 2029 or a SHINE IPO (the "Deferred Cash Purchase Price"), with an additional $5.0 million payable if the Deferred Cash Purchase Price is not paid by January 1, 2029, for a total of $25.0 million in cash to be paid no later than January 1, 2030. In addition, we may earn up to $30.0 million in a combination of cash and capital stock of Illuminated upon exceeding specified annual and cumulative revenue milestones of the SPECT business for each calendar year through December 31, 2027.

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As previously announced, we are pursuing value-maximizing alternatives for our radiotherapeutic assets. We are evaluating potential transactions, however, there can be no assurance that this process will result in the identification of a suitable buyer, partner or transaction structure, or that any transaction will be completed on acceptable terms, within this any anticipated timeframe, or at all. Market conditions, financing availability, regulatory considerations, due diligence findings, valuation expectations and other factors could adversely affect our ability to consummate such a transaction.

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We have recognized, and may in the future recognize, impairment charges on our acquired intangible assets, which could adversely affect our results of operations.

We have significant goodwill and intangible assets from our acquisitions, including the LMI Acquisition and the Evergreen Acquisition. During the third quarter of 2026, we recognized impairment charges of $21.0 million and $10.0 million on the LNTH-2620 and LNTH-2515 in-process research and development intangible assets, respectively, which we acquired with Lantheus Biosciences in July 2025. On August 14, 2026, we announced that the FDA approved TAUKLARIFY (florquinitau F-18 injection), also referred to as MK-6240. As a result, we reassessed the existing development plan for LNTH-2620 and because there is no near-term plan to commercialize the asset, we determined that based on the updated analysis of the future cash flow, the value of the asset that remained was immaterial and therefore we recorded the full impairment in an amount equal to $21.0 million for the three and nine months ended September 30, 2026.

Our impairment assessments rely on estimates of future cash flows that involve significant management judgment and uncertainties beyond our control, and actual cash flows could differ materially from our estimates. Clinical, regulatory or commercial setbacks, competition, lower-than-expected sales or changes in our development priorities could result in additional impairment charges. Those charges could be material and could adversely affect our results of operations in the period in which they are recorded.

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We are, and may become in the future, subject to securities class actions, derivative suits or other securities-related legal actions. For example, on September 9, 2025, an alleged stockholder initiated a putative securities class action against us in the United States U.S. District Court for the Southern District of New York, styled Margolis v. Lantheus Holdings, Inc., et al. The operative complaint also asserts claims against certain of our named executives . A related action, styled Indiana Pub. Ret. Sys. v. Lantheus Holdings, Inc., et al ., was filed in the same court on November 5, 2025. Those actions are now consolidated into a single putative securities class action (captioned In re Lantheus Holdings, Inc. Secs. Litig. ), the theory of which is that the defendants made materially false or misleading statements (or omitted material facts) in violation of the Exchange Act. The lead plaintiff filed an amended complaint on March 13, 2026, we filed a motion to dismiss the amended complaint on May 11, 2026, and under the operative scheduling order that motion will be was fully briefed by August 10, 2026. Additionally, on December 17, 2025, another alleged stockholder filed a shareholder derivative action in the same court, styled Lelchuk v. Heino et al. , nominally on behalf of the Company and naming as defendants the current directors of our Board and the same officers named in the consolidated securities class action described above (a similar derivative complaint styled Jones v. Markison et al. , was previously filed on October 31, 2025 but was voluntarily withdrawn without prejudice). The derivative complaint largely repeats the allegations asserted in the consolidated securities class action, and asserts claims for alleged breaches of fiduciary duties, aiding and abetting breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of the Exchange Act. The plaintiff seeks damages and other relief on behalf of the Company. The derivative action is stayed pending one or more of the following events; (i) a public announcement of any settlement of the putative securities class action; (ii) a ruling on the defendants' motion to dismiss, or (iii) a dismissal with prejudice of the putative securities class action and exhaustion of all related appeals. Because the outcome of litigation is uncertain, we cannot predict how or when these matters will ultimately be resolved. These actions, or any other stockholder litigation against us, could cause us to incur substantial costs defending the lawsuit. Such a lawsuit could also divert the time and attention of our management from our business, which could significantly harm our profitability and reputation. If any of these actions are resolved adversely to us, the amount of any potential loss is difficult to predict, and an adverse resolution could materially and adversely affect our business and financial condition.

In addition, purported stockholders have filed complaints and sent demand letters in connection with the Merger. See " Lawsuits relating to the Merger have been, and additional lawsuits may be, filed against us, including by our stockholders. " above.

Unregistered sales of stock 3 changes

On July 31, 2025, the Company's Board of Directors authorized a program to repurchase up to $400.0 million of shares of the Company's common stock through December 31, 2027 (the "2025 Program"). The 2025 Program replaced the program authorized in November 2024 to repurchase up to $250.0 million of shares of the Company's common stock (the "2024 Program"), including the remaining unused amounts under the 2024 Program, so there could be no additional repurchases under the 2024 Program subsequent to July 31, 2025. During 2025, the Company repurchased 1.3 million shares for approximately $100.0 million under the 2024 Program for an average stock price of $79.37. The Company did not repurchase any of its common stock available under the 2025 Program during the three months ended June September 30, 2026. During 2025, the Company repurchased a total of 3.5 million shares for an aggregate purchase price of approximately $200.0 million under the 2025 Program for an average stock price of $56.72. A total of approximately $200.0 million of shares of the Company's common stock remain available for repurchase under the 2025 Program.

The following table presents information with respect to purchases of common stock we made during the second third quarter of 2026:

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(2) During the three months ended June September 30, 2026, the Company did not repurchase shares of common stock under its 2025 Program. At June September 30, 2026, the Company had $200.0 million in approximate dollar value of shares of our common stock that may be purchased under the 2025 Program, which expires in December 2027.

Dividend policy 1 change

We did not declare or pay any dividends, and we do not currently intend to pay dividends in the foreseeable future. We currently expect to retain future earnings, if any, for the foreseeable future, to finance the growth and development of our business and to repay indebtedness. Our ability to pay dividends is restricted by our financing arrangements. See Part I, Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations-Liquidity and Capital Resources-External Sources of Liquidity" of this Quarterly Report on Form 10-Q for further information.

Other information 1 change

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During the second third quarter of 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted , modified , or terminated a Rule 10b5-1 trading arrangement.