Point Biopharma slumps on deal with Lantheus for lead cancer therapies

POINT Biopharma Global

14/11/2022 15:48

** Shares of drugmaker Point Biopharma  PNT.O  declines 32%
to $6.24, while medical imaging product maker Lantheus Holdings
 LNTH.O  up 1.1% at $57.09 
    ** PNT says signed collaboration agreements with LNTH for
its late-stage cancer therapy candidates PNT2002 and PNT2003 
    ** Under agreements, LNTH to pay $260 mln in upfront
payments to PNT in exchange for exclusive worldwide rights for
PNT2002 and PNT2003 
    ** LNTH could pay PNT potential additional milestone
payments of about $1.8 bln across two products 
    ** PNT to fund and complete its ongoing late-stage trial for
PNT2002, while LNTH will file marketing application in U.S. with
PNT 
    ** PNT will complete the ongoing study of PNT2003, while
LNTH to submit regulatory filings in the U.S.
    ** Including session moves, PNT up 10.4% while LNTH has
nearly doubled YTD
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))