Shares of Lantheus Holdings Inc.
LNTH,
and Point Biopharma Global Inc.
PNT,
fell sharply premarket on Monday after the companies released new data from a trial of their experimental treatment for prostate cancer. The therapy, Lu-PNT2002, met the trial’s primary goal, with a median progression-free survival of 9.5 months, compared with six months for patients on an alternative treatment, an androgen receptor pathway inhibitor, the companies said in a release. Investors were eager to see how the treatment would stack up against Novartis AG’s
NVS,
Pluvicto, which admire Lu-PNT2002 is a radioligand therapy, a type of therapy that delivers radiation to targeted cancer cells while minimizing effects on healthy cells. Novartis data released in October showed Pluvicto produced median progression-free survival of 12 months, versus 5.6 months for patients on androgen receptor pathway inhibitors. Lantheus stock fell 20% premarket on Monday and is up 49% in the year to date, while Point Biopharma shares fell 10.9% premarket and have gained 92% so far this year. Novartis American depositary receipts gained 1.2% premarket Monday.
