Benzinga | May 27, 2021 08:54AM EDT

Lantheus Shares Trading Higher On FDA Approval For Imaging Agent For Identification Of Prostate Cancer

* The FDA has approved Lantheus Holdings Inc's (NASDAQ: LNTH) Pylarify, a positron emission tomography (PET) imaging agent, to identify suspected metastasis or recurrence of prostate cancer.

* Pylarify is an F 18-labeled prostate-specific membrane antigen (PSMA) imaging agent for diagnosing prostate cancer. It is the first and only commercially available approved PSMA PET imaging agent for prostate cancer, said the company.

* The product will be immediately available in parts of the mid-Atlantic and southern regions, and availability is expected to expand over the next six months, with broad availability across the U.S. anticipated by the end of 2021.

* Pylarify was developed to target PSMA, a protein overexpressed on the surface of more than 90% of primary and metastatic prostate cancer cells.

* It binds to the target, enabling the reader of the PET scan to detect and locate the disease.

* Price Action: LNTH shares are up 15.3% at $22.49 during the premarket session on the last check Thursday.