(Updates with detail on share price as plans for use proceeds.) Lantheus (NASDAQ:LNTH) shares were down 14% on Friday after the developer of medical imaging devices late Thursday said it plans to sell 5.2 million of common pursuant to a shelf registration statement filed with the Securities and Exchange Commission. The company intends to use a combination of net proceeds from the offering, with cash on hand, to pay down $55 million under its senior secured credit facilities.
About 501,566 shares traded hands. Lantheus Holdings Inc (NASDAQ:LNTH) has risen 333.88% since February 8, 2016 and is uptrending. It has outperformed by 317.39% the S&P500.
Lantheus Holdings, Inc. develops, manufactures and commercializes diagnostic medical imaging agents and products that assist clinicians in the diagnosis and treatment of cardiovascular and other diseases. The company has a market cap of $262.68 million. The Company’s portfolio of approximately 10 commercial products is spread across a range of imaging modalities. It has a 9.16 P/E ratio. The Company’s Contrast agents are typically non-radioactive compounds that are used in diagnostic procedures, such as cardiac ultrasounds, or echocardiograms, x-ray imaging or magnetic resonance imaging , which are used by physicians to progress the clarity of the diagnostic image.
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