March 6 (Reuters) – The U.S. Food and Drug Administration on Friday approved a new formulation of Lantheus Holdings’ prostate cancer imaging agent, aimed at improving scanning access through increased production capacity.
Shares of the company were up about 3% in extended trading.
The imaging agent, Pylarify, targets prostate-specific membrane antigen (PSMA), a protein that is commonly elevated in prostate cancer cells and used to detect metastatic or recurrent disease in patients.
The new formulation is designed to optimize the manufacturing process and is expected to increase the batch size by about 50%, while also improving margins for the company.
(Reporting by Sahil Pandey, Puyaan Singh and Kamal Choudhury in Bengaluru; Editing by Sahal Muhammed and Alan Barona)
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