Lantheus Medical Imaging (NSDQ:LNTH) parent company Lantheus Holdings announced the completion of its merger with Progenics Pharmaceuticals.
Progenics, an oncology company developing medicines and artificial intelligence-based technologies for finding, fighting and following cancer, entered into a merger agreement with Lantheus that was first announced on Oct. 2, 2019.
Upon the completion of the merger, Progenics stockholders received 0.31 of one share of Lantheus common stock and one non-tradable contingent value right in exchange for one share of Progenics common stock, according to a news release.
The contingent value right is payable in two contingent payments, subject to a cap, upon the achievement of certain milestones related to the financial performance of PyLTM (18F-DCFPyL), Progenics’ prostate-specific membrane antigen targeted imaging agent designed to visualize prostate cancer.
Progenics, which previously traded on the Nasdaq market un…