0001628280-20-015734 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36569
Entity Registrant Name	LANTHEUS HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2318913
Entity Address, Address Line One	331 Treble Cove Road
Entity Address, Postal Zip Code	01862
Entity Address, City or Town	North Billerica,
Entity Address, State or Province	MA
City Area Code	(978)
Local Phone Number	671-8001
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	LNTH
Security Exchange Name	NASDAQ
Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		66,871,355
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001521036
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 87,994	$ 92,919
Accounts receivable, net	49,206	43,529
Inventory	37,623	29,180
Other current assets	9,709	7,283
Total current assets	184,532	172,911
Property, plant and equipment, net	122,381	116,497
Intangibles, net	384,747	7,336
Goodwill	57,765	15,714
Deferred tax assets, net	69,345	71,834
Other long-term assets	60,824	21,627
Total assets	879,594	405,919
Current liabilities
Current portion of long-term debt and other borrowings	18,138	10,143
Accounts payable	24,070	18,608
Accrued expenses and other liabilities	39,792	37,360
Total current liabilities	82,000	66,111
Asset retirement obligations	13,962	12,883
Long-term debt, net and other borrowings	204,669	183,927
Other long-term liabilities	65,384	28,397
Total liabilities	366,015	291,318
Commitments and contingencies (See Note 17)
Stockholders’ equity
Preferred stock ($0.01 par value, 25,000 shares authorized; no shares issued and outstanding)	0	0
Common stock ($0.01 par value, 250,000 shares authorized; 66,850 and 39,251 shares issued and outstanding, respectively)	668	393
Additional paid-in capital	661,955	251,641
Accumulated deficit	(146,534)	(136,473)
Accumulated other comprehensive loss	(2,510)	(960)
Total stockholders’ equity	513,579	114,601
Total liabilities and stockholders’ equity	$ 879,594	$ 405,919

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	66,850,000	39,251,000
Common stock, shares outstanding (in shares)	66,850,000	39,251,000

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 88,544	$ 85,776	$ 245,258	$ 257,991
Cost of goods sold	52,284	44,187	145,148	127,745
Gross profit	36,260	41,589	100,110	130,246
Operating expenses
Sales and marketing	11,609	10,151	28,044	31,496
General and administrative	18,217	18,061	55,586	43,943
Research and development	11,684	4,860	20,150	15,584
Total operating expenses	41,510	33,072	103,780	91,023
Operating (loss) income	(5,250)	8,517	(3,670)	39,223
Interest expense	2,808	2,356	6,668	11,491
Loss on extinguishment of debt	0	0	0	3,196
Other (income) loss	(596)	804	(1,702)	(1,695)
(Loss) income before income taxes	(7,462)	5,357	(8,636)	26,231
Income tax (benefit) expense	(1,076)	501	1,425	5,014
Net (loss) income	$ (6,386)	$ 4,856	$ (10,061)	$ 21,217
Net (loss) income per common share:
Basic (in dollars per share)	$ (0.10)	$ 0.12	$ (0.20)	$ 0.55
Diluted (in dollars per share)	$ (0.10)	$ 0.12	$ (0.20)	$ 0.53
Weighted-average common shares outstanding:
Basic (in shares)	66,820	39,123	49,858	38,901
Diluted (in shares)	66,820	40,286	49,858	40,123

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (6,386)	$ 4,856	$ (10,061)	$ 21,217
Other comprehensive income (loss):
Foreign currency translation	185	(33)	(9)	111
Unrealized loss on cash flow hedges, net of tax	(89)	0	(1,541)	0
Total other comprehensive income (loss)	96	(33)	(1,550)	111
Comprehensive (loss) income	$ (6,290)	$ 4,823	$ (11,611)	$ 21,328

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2018		38,466
Beginning balance at Dec. 31, 2018	$ 71,002	$ 385	$ 239,865	$ (168,140)	$ (1,108)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	9,949			9,949
Other comprehensive income (loss)	56				56
Stock option exercises and employee stock plan purchases (in shares)		37
Stock option exercises and employee stock plan purchases	606		606
Vesting of restricted stock awards and units (in shares)		365
Vesting of restricted stock awards and units	0	$ 4	(4)
Shares withheld to cover taxes (in shares)		(50)
Shares withheld to cover taxes	(1,120)	$ (1)	(1,119)
Stock-based compensation	2,720		2,720
Ending balance (in shares) at Mar. 31, 2019		38,818
Ending balance at Mar. 31, 2019	83,213	$ 388	242,068	(158,191)	(1,052)
Beginning balance (in shares) at Dec. 31, 2018		38,466
Beginning balance at Dec. 31, 2018	71,002	$ 385	239,865	(168,140)	(1,108)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	21,217
Other comprehensive income (loss)	111
Ending balance (in shares) at Sep. 30, 2019		39,229
Ending balance at Sep. 30, 2019	101,166	$ 392	248,694	(146,923)	(997)
Beginning balance (in shares) at Mar. 31, 2019		38,818
Beginning balance at Mar. 31, 2019	83,213	$ 388	242,068	(158,191)	(1,052)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	6,412			6,412
Other comprehensive income (loss)	88				88
Stock option exercises and employee stock plan purchases (in shares)		9
Stock option exercises and employee stock plan purchases	120		120
Vesting of restricted stock awards and units (in shares)		253
Vesting of restricted stock awards and units	0	$ 3	(3)
Shares withheld to cover taxes (in shares)		(37)
Shares withheld to cover taxes	(944)	$ (1)	(943)
Stock-based compensation	3,358		3,358
Ending balance (in shares) at Jun. 30, 2019		39,043
Ending balance at Jun. 30, 2019	92,247	$ 390	244,600	(151,779)	(964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	4,856			4,856
Other comprehensive income (loss)	(33)				(33)
Stock option exercises and employee stock plan purchases (in shares)		49
Stock option exercises and employee stock plan purchases	1,020	$ 1	1,019
Vesting of restricted stock awards and units (in shares)		153
Vesting of restricted stock awards and units	0	$ 2	(2)
Shares withheld to cover taxes (in shares)		(16)
Shares withheld to cover taxes	(347)	$ (1)	(346)
Stock-based compensation	3,423		3,423
Ending balance (in shares) at Sep. 30, 2019		39,229
Ending balance at Sep. 30, 2019	101,166	$ 392	248,694	(146,923)	(997)
Beginning balance (in shares) at Dec. 31, 2019		39,251
Beginning balance at Dec. 31, 2019	114,601	$ 393	251,641	(136,473)	(960)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	3,337			3,337
Other comprehensive income (loss)	(1,434)				(1,434)
Stock option exercises and employee stock plan purchases (in shares)		33
Stock option exercises and employee stock plan purchases	366		366
Vesting of restricted stock awards and units (in shares)		563
Vesting of restricted stock awards and units	0	$ 6	(6)
Shares withheld to cover taxes (in shares)		(97)
Shares withheld to cover taxes	(1,547)	$ (1)	(1,546)
Stock-based compensation	3,075		3,075
Ending balance (in shares) at Mar. 31, 2020		39,750
Ending balance at Mar. 31, 2020	118,398	$ 398	253,530	(133,136)	(2,394)
Beginning balance (in shares) at Dec. 31, 2019		39,251
Beginning balance at Dec. 31, 2019	114,601	$ 393	251,641	(136,473)	(960)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(10,061)
Other comprehensive income (loss)	(1,550)
Ending balance (in shares) at Sep. 30, 2020		66,850
Ending balance at Sep. 30, 2020	513,579	$ 668	661,955	(146,534)	(2,510)
Beginning balance (in shares) at Mar. 31, 2020		39,750
Beginning balance at Mar. 31, 2020	118,398	$ 398	253,530	(133,136)	(2,394)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(7,012)			(7,012)
Other comprehensive income (loss)	(212)				(212)
Stock option exercises and employee stock plan purchases (in shares)		7
Stock option exercises and employee stock plan purchases	50		50
Vesting of restricted stock awards and units (in shares)		242
Vesting of restricted stock awards and units	0	$ 2	(2)
Shares withheld to cover taxes (in shares)		(36)
Shares withheld to cover taxes	(485)	$ (1)	(484)
Issuance of common stock (in shares)		26,845
Issuance of common stock, net of $3,776 issuance costs	394,334	$ 269	394,065
Fair value of replacement options related to pre-acquisition services	7,125		7,125
Stock-based compensation	3,385		3,385
Ending balance (in shares) at Jun. 30, 2020		66,808
Ending balance at Jun. 30, 2020	515,583	$ 668	657,669	(140,148)	(2,606)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(6,386)			(6,386)
Other comprehensive income (loss)	96				96
Stock option exercises and employee stock plan purchases (in shares)		32
Stock option exercises and employee stock plan purchases	344		344
Vesting of restricted stock awards and units (in shares)		13
Vesting of restricted stock awards and units	0	$ 1	(1)
Shares withheld to cover taxes (in shares)		(3)
Shares withheld to cover taxes	(50)	$ (1)	(49)
Stock-based compensation	3,992		3,992
Ending balance (in shares) at Sep. 30, 2020		66,850
Ending balance at Sep. 30, 2020	$ 513,579	$ 668	$ 661,955	$ (146,534)	$ (2,510)

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Jun. 30, 2020 USD ($)
Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 3,776

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net (loss) income	$ (10,061)	$ 21,217
Adjustments to reconcile net (loss) income to net cash flows from operating activities:
Depreciation, amortization and accretion	16,295	9,840
Impairment of long-lived assets	7,275	0
Amortization of debt related costs	199	809
Changes in fair value of contingent assets and liabilities	800	0
Loss on extinguishment of debt	0	3,196
Provision for bad debt	215	107
Provision for excess and obsolete inventory	1,870	1,699
Stock-based compensation	10,452	9,501
Deferred taxes	(781)	3,790
Long-term income tax receivable	(1,664)	(842)
Long-term income tax payable and other long-term liabilities	2,114	1,113
Other	819	229
Increases (decreases) in cash from operating assets and liabilities:
Accounts receivable	(703)	3,078
Inventory	(9,593)	728
Other current assets	1,563	(196)
Accounts payable	3,762	1,454
Accrued expenses and other liabilities	(6,735)	2,240
Net cash provided by operating activities	15,827	57,963
Investing activities
Capital expenditures	(8,689)	(17,320)
Lending on bridge loan	(10,000)	0
Cash acquired in acquisition of business	17,562	0
Net cash used in investing activities	(1,127)	(17,320)
Financing activities
Proceeds from issuance of long-term debt	0	199,461
Payments on long-term debt and other borrowings	(11,166)	(272,821)
Equity issuance costs	(3,777)	0
Deferred financing costs	(1,223)	(2,034)
Proceeds from stock option exercises	77	1,173
Proceeds from issuance of common stock	683	573
Payments for minimum statutory tax withholding related to net share settlement of equity awards	(2,082)	(2,410)
Net cash used in financing activities	(17,488)	(76,058)
Effect of foreign exchange rates on cash, cash equivalents and restricted cash	4	76
Net decrease in cash, cash equivalents and restricted cash	(2,784)	(35,339)
Cash, cash equivalents and restricted cash, beginning of period	92,919	113,401
Cash, cash equivalents and restricted cash, end of period	90,135	78,062
Reconciliation to amounts within the condensed consolidated balance sheets
Cash, cash equivalents and restricted cash at end of period	$ 90,135	$ 78,062

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Holdings and its direct and indirect wholly-owned subsidiaries, including Progenics Pharmaceuticals, Inc., a Delaware corporation (“Progenics”) for the period from June 19 through September 30, 2020 (see “Acquisition of Progenics” below), and have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ended December 31, 2020 or any future period. The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities Exchange Commission (“SEC”) on February 25, 2020. Acquisition of Progenics On June 19, 2020 (the “Closing Date”), pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of February 20, 2020 (the “Merger Agreement”), by and among Holdings, Plato Merger Sub, Inc., a wholly-owned subsidiary of Holdings (“Merger Sub”), and Progenics, Holdings completed the previously announced acquisition of Progenics, by means of a merger of Merger Sub with and into Progenics, with Progenics surviving such merger as a wholly-owned subsidiary of Holdings (the “Merger”). In accordance with the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of Progenics common stock, par value $0.0013 per share, issued and outstanding immediately prior to the Effective Time (other than shares of Progenics common stock owned by Holdings, Progenics or any of their wholly-owned subsidiaries) was automatically cancelled and converted into the right to receive (i) 0.31 (the “Exchange Ratio”) of a share of Holdings common stock, par value $0.01 per share, and (ii) one contingent value right (a “CVR”) tied to the financial performance of PyL (18F-DCFPyL), Progenics’ prostate-specific membrane antigen (“PSMA”) targeted imaging agent designed to visualize prostate cancer, currently a late stage clinical candidate (“PyL”). Each CVR will entitle its holder to receive a pro rata share of aggregate cash payments equal to 40% of U.S. net sales generated by PyL in 2022 and 2023 in excess of $100.0 million and $150.0 million, respectively. In no event will the Company’s aggregate payments in respect of the CVRs, together with any other non-stock consideration treated as paid in connection with the Progenics Transaction, exceed 19.9% (which we estimate could be approximately $100 million) of the total consideration the Company pays in the Progenics Transaction. No fractional shares of Holdings common stock were issued in the Merger, and Progenics’ former stockholders have received cash in lieu of any fractional shares of Holdings common stock. In addition, in accordance with the Merger Agreement, at the Effective Time, each Progenics stock option with a per share exercise price less than or equal to $4.42 (an “in-the-money Progenics stock option”) received in exchange for each such in-the money Progenics stock option: (i) an option to purchase Holdings common stock (each, a “Replacement Stock Option”) converted based on the Exchange Ratio, and (ii) a vested or unvested CVR depending on whether the underlying in-the-money Progenics stock option was vested at the Effective Time. Each Progenics stock option with a per share exercise price greater than $4.42 (an “out-of-the-money Progenics stock option”) received in exchange for such out-of-the-money Progenics stock options a Lantheus Stock Option converted at an exchange ratio determined based on the average of the volume weighted average price per share of common stock of Progenics and Lantheus Holdings prior to the Effective Time, which exchange ratio was 0.31, the same as the Exchange Ratio. As a result of the acquisition, Holdings issued 26,844,877 shares of Holdings common stock and 86,630,633 CVRs to former Progenics stockholders. Holdings also assumed 34,000 in-the-money Progenics stock options and 6,507,342 out-of-the-money Progenics stock options, each converted into Lantheus Stock Options as noted above. In addition, Lantheus assumed Progenics equity plans, which, on an as-converted basis, increased the number of Lantheus shares available for issuance by an aggregate of 4,211,290 shares prior to converting the stock options noted above, subject to certain limitations as to eligibility for issuance. Please refer to Note 8, “Business Combinations”, for further details on the acquisition. COVID-19 The Company experienced operational and financial impacts from the COVID-19 pandemic beginning late in the first quarter of 2020 and through the date of this filing, including the impact of stay-at-home mandates and advisories, and a decline in the volume of procedures and treatments using the Company’s products. As a result of the COVID-19 pandemic, the Company undertook a thorough analysis of all of its discretionary expenses. In the first quarter of 2020, the Company implemented certain cost reduction initiatives. For most of the second quarter, the Company reduced the Company’s work week from five days to four days and reduced the pay for employees by varying amounts depending on level of seniority. During the second quarter of 2020, Progenics also implemented certain cost reduction initiatives and paused new enrollment in the Phase 2 trial of 1095 in metastatic castrate-resistant prostate cancer (“mCRPC”) patients to minimize the risk to subjects and healthcare providers during the pandemic. New enrollment in that study restarted in October 2020. GE Healthcare Limited (“GE Healthcare”), the Company’s development and commercialization partner for flurpiridaz F 18, also delayed enrollment in the second Phase 3 clinical trial of flurpiridaz F 18 because of the pandemic and resumed enrollment in the third quarter of 2020. The severity of the on-going impact of the COVID-19 pandemic on the Company's business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, and the extent and severity of the impact on the Company's customers and suppliers, all of which are uncertain and cannot be predicted. While the impact of COVID-19 on the Company’s results of operations and cash flows has been, and is expected to continue to be, material, given the continually evolving nature of the pandemic, the Company is currently unable to accurately predict the impact of COVID-19 on its overall 2020 operations and financial results or cash flows for the foreseeable future and whether the impact of COVID-19 could lead to potential future impairments.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Derivative Instruments

The Company uses interest rate swaps to reduce the variability in cash flows associated with a portion of the Company’s forecasted interest payments on its variable rate debt. To qualify for hedge accounting, the hedging instrument must be highly effective at reducing the risk from the exposure being hedged. Further, the Company must formally document the hedging relationship at inception and, on at least a quarterly basis, continually reevaluate the relationship to ensure it remains highly effective throughout the life of the hedge. The Company does not enter into derivative financial instruments for speculative or trading purposes.

Business Combinations

The Company accounts for business combinations using the acquisition method of accounting. The Company recognizes the assets acquired and liabilities assumed in business combinations on the basis of their fair values at the date of acquisition. The Company assesses the fair value of assets acquired, including intangible assets, and liabilities assumed using a variety of methods. Each asset acquired and liability assumed is measured at fair value from the perspective of a market participant. The method used to estimate the fair values of intangible assets incorporates significant assumptions regarding the estimates a market participant would make in order to evaluate an asset, including a market participant’s use of the asset and the appropriate discount rates. Acquired in-process research and development (“IPR&D”) is recognized at fair value and initially characterized as an indefinite-lived intangible asset, irrespective of whether the acquired IPR&D has an alternative future use. Any excess purchase price over the fair value of the net tangible and intangible assets acquired is allocated to goodwill. Transaction costs and restructuring costs associated with a business combination are expensed as incurred.

During the measurement period, which extends no later than one year from the acquisition date, the Company may record certain adjustments to the carrying value of the assets acquired and liabilities assumed with the corresponding offset to goodwill. After the measurement period, all adjustments are recorded in the condensed consolidated statements of operations as operating expenses or income.

Contingent Consideration Liabilities

The estimated fair value of contingent consideration liabilities, initially measured and recorded on the acquisition date, are considered to be a Level 3 instrument and are reviewed quarterly, or whenever events or circumstances occur that indicate a change in

fair value. The contingent consideration liabilities are recorded at fair value at the end of each reporting period with changes in estimated fair values recorded in general and administrative expenses in the condensed consolidated statements of operations.

The estimated fair value is determined based on probability adjusted discounted cash flows and Monte Carlo simulation models that include significant estimates and assumptions pertaining to commercialization events and sales targets. The most significant unobservable inputs are the probabilities of achieving regulatory approval of the development projects and subsequent commercial success.

Significant changes in any of the probabilities of success would result in a significantly higher or lower fair value measurement. Significant changes in the probabilities as to the periods in which milestones will be achieved would result in a significantly lower or higher fair value measurement.

Intangible and Long-Lived Assets

The Company’s IPR&D represents intangible assets acquired in a business combination that are used in research and development activities but have not yet reached technological feasibility, regardless of whether they have alternative future use. The primary basis for determining the technological feasibility or completion of these projects is obtaining regulatory approval to market the underlying products in an applicable geographic region. Because obtaining regulatory approval can include significant risks and uncertainties, the eventual realized value of the acquired IPR&D projects may vary from their fair value at the date of acquisition. The Company classifies IPR&D acquired in a business combination as an indefinite-lived intangible asset until the completion or abandonment of the associated research and development efforts. Upon completion of the associated research and development efforts, the Company will determine the useful life and begin amortizing the assets to reflect their use over their remaining lives. Upon permanent abandonment, the Company writes-off the remaining carrying amount of the associated IPR&D intangible asset. IPR&D assets are tested at least annually or when a triggering event occurs that could indicate a potential impairment and any impairment loss is recognized in the Company’s condensed consolidated statements of operations.

Recent Accounting Pronouncements


Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted

Accounting Standards Adopted During the Nine Months Ended September 30, 2020
ASU 2020-04, “Reference Rate Reform (Topic 848)”	This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326)”	This ASU requires financial instruments measured at amortized cost and accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts that affect the collectability of the reported amount.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.

Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

The following table summarizes revenue by revenue source and reportable segment as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
Major Products/Service Lines by Segment (in thousands)	2020		2019		2020		2019
U.S.
Product revenue, net(1)	$	73,080	$	74,650	$	208,482	$	225,274
License and royalty revenues	4,395		—		5,137		—
Total U.S. revenues	77,475		74,650		213,619		225,274
International
Product revenue, net(1)	10,581		10,587		30,319		31,123
License and royalty revenues	488		539		1,320		1,594
Total International revenues	11,069		11,126		31,639		32,717
Total revenues	$	88,544	$	85,776	$	245,258	$	257,991

________________________________

(1)The Company’s principal products include DEFINITY and TechneLite and are categorized within product revenue, net. The Company applies the

same revenue recognition policies and judgments for all of its principal products.

The Company’s performance obligations are typically part of contracts that have an original expected duration of one year or less. As such, the Company is not disclosing the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially satisfied) as of the end of the reporting period.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability of fair value measurements, financial instruments are categorized based on a hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

•Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

•Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

•Level 3 — Unobservable inputs that reflect a Company’s estimates about the assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data.

The Company’s financial assets and liabilities measured at fair value on a recurring basis consist of money market funds, interest rate swaps, a contingent receivable and contingent consideration liabilities. The Company invests excess cash from its operating cash accounts in overnight investments and reflects these amounts in cash and cash equivalents in the condensed consolidated balance sheets at fair value using quoted prices in active markets for identical assets. The fair value of the interest rate swaps are determined based on observable market-based inputs, including interest rate curves and reflects the contractual terms of these instruments, including the period to maturity. Please refer to Note 12, “Derivative Instruments”, for further details on the interest rate swaps. The Company recorded a contingent receivable and the contingent consideration liabilities resulting from the acquisition of Progenics at fair value based on inputs that are not observable in the market. Please refer to Note 8, “Business Combinations”, for further details on the acquisition.

The tables below present information about the Company’s assets and liabilities measured at fair value on a recurring basis:


	September 30, 2020
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market	$	43,710	$	43,710	$	—	$	—
Contingent receivable	10,200		—		—		10,200
Total assets	$	53,910	$	43,710	$	—	$	10,200
Liabilities:
Interest rate swaps	$	2,073	$	—	$	2,073	$	—
Contingent consideration liabilities	17,200		—		—		17,200
Total liabilities	$	19,273	$	—	$	2,073	$	17,200


	December 31, 2019
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market	$	39,530	$	39,530	$	—	$	—
Total assets	$	39,530	$	39,530	$	—	$	—

During the three and nine months ended September 30, 2020, there were no transfers into or out of Level 3.

As part of the acquisition of Progenics, the Company acquired the right to receive certain future milestone and royalty payments due to Progenics from CytoDyn Inc., related to a prior sale of certain intellectual property. The Company has the right to receive $5.0 million upon regulatory approval and a 5% royalty on net sales of approved products. The Company considers the contingent receivable a Level 3 instrument (one with significant unobservable inputs) in the fair value hierarchy. The estimated fair value was determined based on probability adjusted discounted cash flows that included significant estimates and assumptions pertaining to regulatory events and sales targets. The most significant unobservable inputs are the probabilities of achieving regulatory approval of the development projects and subsequent commercial success.

As part of the acquisition of Progenics, the Company issued CVRs and recorded the fair value as part of consideration transferred. Refer to Note 1, “Basis of Presentation” for further details on the CVRs. Additionally, the Company assumed contingent consideration liabilities related to a previous acquisition completed by Progenics in 2013. These contingent consideration liabilities include potential payments of up to $70.0 million if the Company attains certain net sales targets for AZEDRA and 1095 and a $5.0 million 1095 commercialization milestone. The Company considers the contingent consideration liabilities a Level 3 instrument (one with significant unobservable inputs) in the fair value hierarchy. The estimated fair value was determined based on probability adjusted discounted cash flows and Monte Carlo simulation models that included significant estimates and assumptions pertaining to commercialization events and sales targets. The most significant unobservable inputs are the probabilities of achieving regulatory approval of the development projects and subsequent commercial success.

Significant changes in any of the probabilities of success or the probabilities as to the periods in which milestones will be achieved would result in a significantly higher or lower fair value measurement. The Company records the contingent consideration liability at fair value with changes in estimated fair values recorded in general and administrative expenses in the condensed consolidated statements of operations.

The following tables summarize quantitative information and assumptions pertaining to the fair value measurement of assets and liabilities using Level 3 inputs at September 30, 2020.


(in thousands)	Fair Value at September 30, 2020		Valuation Technique	Unobservable Input	Assumption
Contingent receivable:
Regulatory milestone	$	3,100	Probability adjusted discounted cash flow model	Period of expected milestone achievement	2021
				Probability of success	90	%
				Discount rate	23	%
Royalties	7,100		Probability adjusted discounted cash flow model
				Probability of success	13% - 77%
				Discount rate	23	%
Total	$	10,200


(in thousands)	Fair Value at September 30, 2020		Valuation Technique	Unobservable Input	Assumption
Contingent consideration liability:
Net sales targets - PyL (CVRs)	$	3,900	Monte-Carlo simulation	Period of expected milestone achievement	2022 - 2023

				Discount rate	24	%

1095 commercialization milestone	2,200		Probability adjusted discounted cash flow model	Period of expected milestone achievement	2026
				Probability of success	45	%
				Discount rate	0.48	%





Net sales targets - AZEDRA and 1095	11,100		Monte-Carlo simulation	Probability of success	40% - 100%
				Discount rate	23% - 24%
Total	$	17,200

For those financial instruments with significant Level 3 inputs, the following table summarizes the activities for the periods indicated:


	Financial Assets		Financial Liabilities
(in thousands)	Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2020
Fair value, beginning of period	$	—	$	—
Progenics acquisition	10,100		16,300
Changes in fair value included in net loss	100		900

Fair value, end of period	$	10,200	$	17,200

The change in fair value of the contingent financial asset and contingent financial liabilities of $0.8 million

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full year, adjusted for any discrete events which are recorded in the period they occur. Cumulative adjustments to the tax provision are recorded in the interim period in which a change in the estimated annual effective tax rate is determined. The Company’s income tax expense is presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Income tax (benefit) expense	$	(1,076)	$	501	$	1,425	$	5,014

The Company regularly assesses its ability to realize its deferred tax assets. Assessing the realizability of deferred tax assets requires significant management judgment. In determining whether its deferred tax assets are more-likely-than-not realizable, the Company evaluated all available positive and negative evidence, and weighed the objective evidence and expected impact. The Company has recorded valuation allowances of $3.2 million against the net deferred tax assets of certain foreign subsidiaries, as well as a valuation allowance of $0.7 million against net U.S. deferred tax assets due to the potential expiration of certain tax losses and state tax credits prior to utilization.

In connection with the Company’s acquisition of the medical imaging business from Bristol-Myers Squibb (“BMS”) in 2008, the Company recorded a liability for uncertain tax positions related to the acquired business and simultaneously entered into a tax indemnification agreement with BMS under which BMS agreed to indemnify the Company for any payments made to settle those uncertain tax positions with the taxing authorities. Accordingly, a long-term receivable is recorded to account for the expected value to the Company of future indemnification payments, net of actual tax benefits received, to be paid on behalf of the Company by BMS. The tax indemnification receivable is recorded within other long-term assets.

In accordance with the Company’s accounting policy, the change in the tax liability, penalties and interest associated with these obligations (net of any offsetting federal or state benefit) is recognized within income tax expense. As these reserves change, adjustments are included in income tax expense while the offsetting adjustment is included in other income. Assuming that the receivable from BMS continues to be considered recoverable by the Company, there will be no effect on net income and no net cash outflows related to these liabilities.

On June 19, 2020, the Company acquired the stock of Progenics Pharmaceuticals, Inc. in a transaction that is expected to qualify as a tax-deferred reorganization under Section 368 of the Internal Revenue Code of 1986, as amended. The transaction resulted in an ownership change of Progenics under Section 382 and a limitation on the utilization of Progenics’ pre-transaction tax attributes. All of Progenics’ pre-transaction research credits and Orphan drug credits have been removed from the balance sheet, and the gross carrying value of the tax loss carryforwards reduced to their realizable value on the opening balance sheet, in accordance with the Section 382 limitation. Deferred tax liabilities arising from the purchase accounting basis step-up in identified intangibles were also recorded as part of the purchase accounting, resulting in a small net overall deferred tax liability for Progenics after the application of purchase accounting.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Inventory

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following:


(in thousands)	September 30, 2020		December 31, 2019
Raw materials	$	15,774	$	11,417
Work in process	14,330		9,450
Finished goods	7,519		8,313
Total inventory	$	37,623	$	29,180

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, plant and equipment, net, consisted of the following:


(in thousands)	September 30, 2020		December 31, 2019
Land	$	13,450	$	13,450
Buildings	70,263		75,654
Machinery, equipment and fixtures	92,012		87,763
Computer software	20,974		20,739
Construction in progress	14,395		10,546
	211,094		208,152
Less: accumulated depreciation and amortization	(88,713)		(91,655)
Total property, plant and equipment, net	$	122,381	$	116,497

Depreciation and amortization expense related to property, plant and equipment, net, was $3.4 million and $2.5 million for the three months ended September 30, 2020 and 2019, respectively, and $9.1 million and $7.5 million for the nine months ended September 30, 2020 and 2019, respectively.

The Company tests long-lived assets for recoverability whenever events or changes in circumstances suggest that the carrying value of an asset or group of assets may not be recoverable. During the three months ended March 31, 2020, as a result of a decline in expected future cash flows and the effect of COVID-19 related to certain other nuclear legacy manufacturing assets in the U.S. segment, the Company determined certain impairment triggers had occurred. Accordingly, the Company performed an undiscounted cash flow analysis as of March 31, 2020. Based on the undiscounted cash flow analysis, the Company determined that the manufacturing assets had net carrying values that exceeded their estimated undiscounted future cash flows. The Company then estimated the fair values of the asset group based on their discounted cash flows. The carrying value exceeded the fair value and as a result, the Company recorded a non-cash impairment of $7.3 million for the nine months ended September 30, 2020 in cost of goods sold in the condensed consolidated statement of operations.

Business Combinations

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Business Combinations

On June 19, 2020, the Company completed the acquisition of Progenics, an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer. The acquisition combines the commercialization, supply chain and manufacturing expertise of the Company with the currently commercialized products and R&D pipeline of Progenics. Progenics brings several commercial products and a pipeline of product candidates that will further diversify the Company’s commercial and clinical development portfolios.

Under the terms of the Merger Agreement, the Company acquired all of the issued and outstanding shares of Progenics common stock for a purchase price of $419.0 million by means of an all-stock transaction, which includes Replacement Stock Options for precombination services as well as CVRs.

The CVRs were accounted for as contingent consideration, the fair value of which was determined using a Monte-Carlo simulation. Additionally, the fair value of replacement options related to pre-acquisition services was recorded as a component of consideration transferred. Finally, as a result of the acquisition, Lantheus effectively settled an existing bridge loan with Progenics at the recorded amount (principal and accrued interest) of $10.1 million, representing the effective settlement of a preexisting relationship. This effective settlement of the bridge loan was treated as a component of consideration transferred. The Company determined that the bridge loan was at market terms and no gain or loss was recorded upon settlement.

The acquisition date fair value of the consideration transferred in the acquisition consisted of the following:


(in thousands)	Amount
Issuance of common stock	$	398,110
Fair value of replacement options	7,125
Fair value of bridge loan settled at close	10,074
Fair value of contingent considerations (CVRs)	3,700
Total consideration transferred(1)	$	419,009

(1)Non-cash investing and financing activities in the condensed consolidated statements of cash flows

The transaction was accounted for as a business combination which requires that assets acquired and liabilities assumed be recognized at their fair value as of the acquisition date. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to value the assets acquired and liabilities assumed on the acquisition date, its estimates and assumptions are subject to refinement. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations. The purchase price allocation is preliminary and is subject to change, including for the valuation and amortization of intangible assets, income taxes and related valuation allowances and certain assets and liabilities among other items. The amounts recognized will be finalized as the information necessary to complete the analysis is obtained, but no later than one year after the acquisition date. Any potential adjustments made could be material in relation to the preliminary values presented below.

The preliminary fair value of the assets acquired and liabilities assumed were as follows:


(in thousands)	Amount
Cash and cash equivalents	$	15,421
Accounts receivable	5,787
Inventory	915
Other current assets	3,250
Property, plant and equipment	14,972
Identifiable intangible assets (weighted average useful life):
Currently marketed product (15 years)	142,100
Licenses (11.5 years)	87,500
Developed technology (9 years)	3,000
IPR&D	150,900

Other long-term assets	37,631
Accounts payable	(1,616)
Accrued expenses and other liabilities	(8,207)
Other long-term liabilities	(30,778)
Long-term debt and other borrowings	(40,200)
Deferred tax liabilities	(3,717)
Goodwill	42,051
Total consideration transferred	$	419,009

Intangible assets acquired consist of currently marketed products, licenses, developed technology and IPR&D. The fair value of the acquired intangible assets was determined based on estimated future revenues, royalty rates and discount rates, among other variables and estimates. The acquired intangible assets subject to amortization were assigned useful lives based on the expected use of the assets and the regulatory and economic environment within which they are being used and are being amortized on a straight-line basis over the respective estimated useful lives. The estimated fair values of the IPR&D assets were determined based on the present values of the expected cash flows to be generated by the respective underlying assets. The Company used a discount rate of 24.0% and cash flows that have been probability adjusted to reflect the risks of product commercialization, which the Company believes are appropriate and representative of market participant assumptions.

As part of the acquisition, the Company acquired the right to receive certain future milestone and royalty payments due to Progenics, related to a prior sale of certain intellectual property. The estimated fair value of the acquired contingent receivable of $10.1 million was determined by applying a probability adjusted discounted cash flow model based on estimated future expected payments and recorded in other long-term assets.

The goodwill recognized is attributable to future technologies that are not separately identifiable that could potentially add to the currently developed and pipeline products and Progenics’ assembled workforce. Future technologies did not meet the criteria for recognition separately from goodwill because they are part of the future development and growth of the business. Goodwill of $42.1 million recognized in connection with the acquisition is not deductible for tax purposes and has been assigned to the U.S. operating segment.

The Company recognized $1.6 million and $10.5 million of acquisition-related costs, including legal, accounting, compensation arrangements and other related fees that were expensed when incurred in the three and nine months ended September 30, 2020, respectively. These costs are recorded in general and administrative expenses in the condensed consolidated statements of operations.

Progenics Pro Forma Financial Information

Progenics has been included in the Company’s consolidated financial statements since the acquisition date. Progenics contributed revenues of $5.9 million and $6.9 million, as well as a net loss of $12.6 million and $15.8 million to the Company’s condensed consolidated statement of operations for the three and nine months ended September 30, 2020, respectively.

The following unaudited pro forma financial information presents the Company’s results as if the Progenics acquisition had occurred on January 1, 2019:


	Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2019
(in thousands)	Amount		Amount
Pro forma revenue	$	256,163	$	277,851
Pro forma net loss	27,143		47,032

The pro forma financial information for all periods presented adjusts for the effects of material business combination items, including amortization of acquired intangible assets, transaction-related costs, adjustments to interest expense related to the assumption of long-term debt, retention and severance bonuses and the corresponding income tax effects of each. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the operating results of the Company that would have been achieved had the acquisition actually taken place on January 1, 2019. In addition, these results are not intended to be a projection of future results and do not reflect events that may occur after the acquisition, including, but not limited to, revenue enhancements, cost savings or operating synergies that the combined company may achieve as a result of the acquisition.

Asset Retirement Obligations

9 Months Ended

Sep. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

The Company considers its legal obligation to remediate its facilities upon a decommissioning of its radioactive-related operations as an asset retirement obligation. The Company has production facilities which manufacture and process radioactive materials at its North Billerica, Massachusetts and San Juan, Puerto Rico sites. As of September 30, 2020, the liability is measured at the present value of the obligation expected to be incurred, of approximately $26.9 million.

The following table provides a summary of the changes in the Company’s asset retirement obligations:


(in thousands)	Amount
Balance at January 1, 2020	$	12,883

Accretion expense	1,079
Balance at September 30, 2020	$	13,962

The Company is required to provide the U.S. Nuclear Regulatory Commission and Massachusetts Department of Public Health financial assurance demonstrating the Company’s ability to fund the decommissioning of its North Billerica, Massachusetts production facility upon closure, although the Company does not intend to close the facility. The Company has provided this financial assurance in the form of a $28.2 million surety bond.

Intangibles, Net

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles, Net

Intangibles, NetIntangibles, net, consisted of the following:


	September 30, 2020
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,820)	$	2,720
Customer relationships	Accelerated	98,966		(95,528)		3,438
Currently marketed product	Straight-Line	142,100		(2,658)		139,442
Licenses	Straight-Line	87,500		(2,159)		85,341
Developed technology	Straight-Line	3,000		(94)		2,906
IPR&D	N/A	150,900		—		150,900
Total		$	496,006	$	(111,259)	$	384,747


	December 31, 2019
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,407)	$	3,133
Customer relationships	Accelerated	99,019		(94,816)		4,203
Total		$	112,559	$	(105,223)	$	7,336

The Company recorded amortization expense for its intangible assets of $4.8 million and $0.5 million for the three months ended September 30, 2020 and 2019, respectively, and $6.1 million and $1.4 million for the nine months ended September 30, 2020 and 2019, respectively.

The below table summarizes the estimated aggregate amortization expense expected to be recognized on the above intangible assets:


(in thousands)	Amount
2020	$	4,769
2021	18,813
2022	18,684
2023	18,074
2024	17,998
2025 and thereafter	155,509
Total	$	233,847

Long-Term Debt, Net, and Other Borrowings

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt, Net, and Other Borrowings

As of September 30, 2020, the Company’s maturities of principal obligations under its long-term debt and other borrowings are as follows:


(in thousands)	Amount
Remainder of 2020	$	4,328
2021	19,588
2022	26,217
2023	22,928
2024	148,750

Total principal outstanding	221,811
Unamortized debt premium	1,230
Unamortized debt issuance costs	(644)

Finance lease liabilities	410

Total	222,807
Less: current portion	(18,138)
Total long-term debt, net and other borrowings	$	204,669

At September 30, 2020, the Company’s interest rate under the 2019 Term Facility was 3.4%.

On June 19, 2020, the Company amended its 2019 Credit Agreement (“the Amendment”) as a result of the impact of the COVID-19 pandemic on the business and operations of the Company and the near-term higher level of indebtedness resulting from the Company’s decision not to immediately repay the Progenics debt secured by the RELISTOR royalties following the Company’s acquisition of Progenics. The Company accounted for the Amendment as a debt modification and capitalized $1.2 million of associated costs.

The Amendment provides for, among other things, modifications to LMI’s financial maintenance covenants. The covenant related to Total Net Leverage Ratio (as defined in the Amended Credit Agreement) has been waived from the date of the Amendment through December 31, 2020. The maximum total net leverage ratio and interest coverage ratio permitted by the financial covenant is displayed in the table below:


2020 Amended Credit Agreement
Period			Total Net Leverage Ratio
Q1 2021			5.50 to 1.00
Q2 2021			3.75 to 1.00
Thereafter			3.50 to 1.00

Period			Interest Coverage Ratio
Q3 2020 to Q1 2021			2.00 to 1.00
Thereafter			3.00 to 1.00

The Amendment also introduces a new financial covenant requiring Consolidated Liquidity (as defined in the Amended Credit Agreement) to be no less than $150.0 million. The Consolidated Liquidity covenant is tested on a continuing basis beginning on the date of the Amendment and ending on the date on which LMI delivers a compliance certificate for the fiscal quarter ending March 31, 2021.

For the period beginning on the date of the Amendment and ending on the Adjustment Date (as defined in the Amended Credit Agreement) for the fiscal quarter ending March 31, 2021, loans under the Amended Credit Agreement bear interest at LIBOR plus 3.25% or the Base Rate plus 2.25%. On and after the Adjustment Date for the fiscal quarter ending on March 31, 2021, loans bear interest at LIBOR plus a spread that ranges from 1.50% to 3.00% or the Base Rate plus a spread that ranges from 0.50% to 2.00%, in each case based on LMI’s Total Net Leverage Ratio.

The commitment fee applicable to the Revolving Facility is 0.50% until the Adjustment Date for the fiscal quarter ending March 31, 2021. On and after the Adjustment Date for the fiscal quarter ending on March 31, 2021, the commitment fee ranges from 0.15% to 0.40% based on LMI’s Total Net Leverage Ratio.

On June 19, 2020, as a result of the acquisition, the Company assumed Progenics outstanding debt as of such date in the amount of $40.2 million. Progenics, through a wholly-owned subsidiary MNTX Royalties Sub LLC (“MNTX Royalties”), entered into a $50.0 million loan agreement (the “Royalty-Backed Loan”) with a fund managed by HealthCare Royalty Partners III, L.P. (“HCRP”) on November 4, 2016. Under the terms of the Royalty-Backed Loan, the lenders have no recourse to Progenics or any of its assets other than the right to receive royalty payments from the commercial sales of RELISTOR products owed under Progenics’ license agreement with Salix Pharmaceuticals, Inc., a wholly-owned subsidiary of Bausch Health Companies Inc. (“Bausch”). The RELISTOR royalty payments will be used to repay the principal and interest on the loan. The Royalty-Backed Loan bears interest at a per annum rate of 9.5% and matures on June 30, 2025. On June 22, 2020, HCRP waived the automatic acceleration of the Royalty-Backed Loan that otherwise would have been triggered by the consummation of the Progenics Transaction and MNTX Royalties agreed not to prepay the loan until after December 31, 2020.

Under the terms of the loan agreement, payments of interest and principal, if any, are made on the last day of each calendar quarter out of RELISTOR royalty payments received since the immediately-preceding payment date. On each payment date, 50% of RELISTOR royalty payments received since the immediately-preceding payment date in excess of accrued interest on the loan are used to repay the principal of the loan, with the balance retained by the Company. Starting on September 30, 2021, all of the RELISTOR royalties received since the immediately-preceding payment date will be used to repay the interest and outstanding principal balance until the balance is fully repaid.

Derivative Instruments

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

The Company uses interest rate swaps to reduce the variability in cash flows associated with a portion of the Company’s forecasted interest payments on its variable rate debt. In March 2020, the Company entered into interest rate swap contracts to fix the LIBOR rate on a notional amount of $100.0 million through May 31, 2024. The average fixed LIBOR rate on the interest rate swaps is approximately 0.82%. This agreement involves the receipt of floating rate amounts in exchange for fixed rate interest payments over the life of the agreement without an exchange of the underlying principal amount. The interest rate swaps were designated as cash flow hedges. In accordance with hedge accounting, the interest rate swaps are recorded on the Company’s condensed consolidated balance sheets at fair value, and changes in the fair value of the swap agreements are recorded to other comprehensive loss and reclassified to interest expense in the period during which the hedged transaction affected earnings or it will become probable that the forecasted transaction would not occur. At September 30, 2020, accumulated other comprehensive loss included $0.6 million of pre-tax deferred losses that are expected to be reclassified to earnings during the next 12 months.

The following table presents the location and fair value amounts of derivative instruments reported in the condensed consolidated balance sheet:

(in thousands)

September 30, 2020

December 31, 2019

Derivatives type

Classification

Liabilities:

Interest rate swap

Accrued expenses and other liabilities

2,073

—

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive LossThe components of Accumulated Other Comprehensive Loss, net of tax of $0.5 million and $0.0 million for the nine months ended September 30, 2020 and 2019, respectively, consisted of the following:


(in thousands)	Foreign currency translation		Unrealized loss on cash flow hedges		Accumulated other comprehensive loss
Balance at January 1, 2020	$	(960)	$	—	$	(960)
Other comprehensive loss before reclassifications	(9)		(1,784)		(1,793)
Amounts reclassified to earnings	—		243		243
Balance at September 30, 2020	$	(969)	$	(1,541)	$	(2,510)

Balance at January 1, 2019	$	(1,108)	$	—	$	(1,108)
Other comprehensive income before reclassifications	111		—		111
Amounts reclassified to earnings	—		—		—
Balance at September 30, 2019	$	(997)	$	—	$	(997)

Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

The following table presents stock-based compensation expense recognized in the Company’s accompanying condensed consolidated statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Cost of goods sold	$	864	$	568	$	2,127	$	1,539
Sales and marketing	621		518		1,268		1,477
General and administrative	1,926		1,948		5,735		5,403
Research and development	581		389		1,322		1,082
Total stock-based compensation expense	$	3,992	$	3,423	$	10,452	$	9,501

Net (Loss) Income Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net (Loss) Income Per Common Share

A summary of net (loss) income per common share is presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2020		2019		2020		2019
Net (loss) income	$	(6,386)	$	4,856	$	(10,061)	$	21,217

Basic weighted-average common shares outstanding	66,820		39,123		49,858		38,901
Effect of dilutive stock options	—		85		—		82
Effect of dilutive restricted stock	—		1,078		—		1,140

Diluted weighted-average common shares outstanding	66,820		40,286		49,858		40,123

Basic (loss) income per common share	$	(0.10)	$	0.12	$	(0.20)	$	0.55
Diluted (loss) income per common share	$	(0.10)	$	0.12	$	(0.20)	$	0.53

Antidilutive securities excluded from diluted net (loss) income per common share	2,588		48		1,657		44

Other (Income) Loss

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Other (Income) Loss

Other (income) loss consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Foreign currency (gains) losses	$	(33)	$	96	$	187	$	7
Tax indemnification (income) expense, net	(555)		762		(1,664)		(842)
Interest income	(7)		(54)		(221)		(613)
Other	(1)		—		(4)		(247)
Total other (income) loss	$	(596)	$	804	$	(1,702)	$	(1,695)

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to various legal proceedings arising in the ordinary course of business. In addition, the Company has in the past been, and may in the future be, subject to investigations by governmental and regulatory authorities, which expose it to greater risks associated with litigation, regulatory or other proceedings, as a result of which the Company could be required to pay significant fines or penalties. The costs and outcome of litigation, regulatory or other proceedings cannot be predicted with certainty, and some lawsuits, claims, actions or proceedings may be disposed of unfavorably to the Company and could have a material adverse effect on the Company’s results of operations or financial condition. In addition, intellectual property disputes often have a risk of injunctive relief which, if imposed against the Company, could materially and adversely affect its financial condition or results of operations. If a matter is both probable to result in material liability and the amount of loss can be reasonably estimated, the Company estimates and discloses the possible material loss or range of loss. If such loss is not probable or cannot be reasonably estimated, a liability is not recorded in its condensed consolidated financial statements. As of September 30, 2020, the Company had the following material ongoing litigation in which the Company was a party: RELISTOR Subcutaneous Injection Between November 19, 2015 and September 18, 2017, Progenics, Salix, Valeant (now Bausch) and Wyeth filed multiple lawsuits against Mylan Pharmaceuticals and certain of its affiliates (collectively, “Mylan”) in the United States District Court for the District of New Jersey (the “Court”) for infringement of certain U.S. patents based upon Mylan’s filing of multiple ANDAs seeking to obtain approval to market a generic version of RELISTOR subcutaneous injection before some or all of those patents expire. These actions were later consolidated into two separate actions in the District of New Jersey. On May 1, 2018, in the lead action, the Court granted Plaintiffs’ motion for partial summary judgment as to the validity of a particular claim that Mylan had admitted it infringed. On May 23, 2018, the Court entered an order for final judgment in favor of Plaintiffs and against Mylan on that particular claim. As a result, trial on the merits in the lead action was adjourned, allowing trial, if necessary, to be consolidated with the lagging, second action. On August 20, 2020, the parties agreed to dismiss all claims, affirmative defenses, and counterclaims in the lagging action and proceed to a full trial on the merits for the patents asserted in the lead action. A date for trial has not yet been set. On May 25, 2018, Mylan filed a Notice of Appeal to the United States Court of Appeals for the Federal Circuit (“CAFC”). On April 8, 2020, the CAFC issued its decision reversing the Court’s grant of summary judgment and remanding for further proceedings. On June 22, 2020, Plaintiffs filed a petition for rehearing/rehearing en banc, and on July 24, 2020, that petition was denied. RELISTOR Tablets - Actavis Between December 6, 2016 and December 8, 2017, Progenics, Salix, Bausch, and Wyeth filed suit against Actavis, Actavis LLC, Teva Pharmaceuticals USA, Inc., and Teva Pharmaceuticals Industries Ltd. (collectively, “Actavis”) in the Court for infringement of certain U.S. patents based upon Actavis’s filing of an ANDA seeking to obtain approval to market a generic version of RELISTOR tablets before some or all of those patents expire. The actions were later consolidated into a single action in the Court. On May 6-9, 2019, a bench trial was held, and on July 17, 2019, the Court issued an Order finding the asserted claims of a certain U.S. patent valid and infringed. The Court additionally ordered that the effective date of any approval of Actavis’s ANDA may not be earlier than the expiration date of that patent. Actavis filed an appeal of the Court’s decision with the CAFC on August 13, 2019. The matter is currently pending on appeal at the CAFC and merits briefing is underway. Actavis’s opening brief was filed February 6, 2020. The Plaintiffs filed their responsive brief on September 15, 2020. Actavis’s reply brief is currently due on November 5, 2020. On June 13, 2019, Progenics, Salix, Bausch, and Wyeth filed another suit against Actavis in the Court for infringement of a separate, and at that time, recently granted U.S. patent based upon Actavis’s filing of an ANDA seeking to obtain approval to market a generic version of RELISTOR tablets before this patent expires. Litigation in this action is underway, and fact discovery has begun. RELISTOR European Opposition Proceedings In addition to the above described ANDA notifications, in October 2015, Progenics received notices of opposition to three European patents relating to methylnaltrexone. Notices of opposition were filed separately by each of Actavis Group PTC ehf and Fresenius Kabi Deutschland GmbH. Between May 11, 2017 and July 4, 2017, the opposition division provided notice that the three European patents would be revoked. Each of these matters are on appeal with the European Patent Office. Oral proceedings for EP1615646 were held on September 22, 2020. The decision under appeal was set aside and the case was remitted to the opposition division for further prosecution. Oral proceedings are set to occur on November 17, 2020 and November 18, 2020 for EP2368553 and EP2368554, respectively. For each of the above-described RELISTOR proceedings, Progenics and Bausch continue to cooperate closely to vigorously defend and enforce RELISTOR intellectual property rights. Pursuant to the RELISTOR license agreement between Progenics and Bausch, Bausch has the first right to enforce the intellectual property rights at issue and is responsible for the costs of such enforcement. Because the outcome of litigation is uncertain and in these RELISTOR proceedings the Company does not control the enforcement of the intellectual property rights at issue, no assurance can be given as to how or when any of these RELISTOR proceedings will ultimately be resolved. German PSMA-617 Litigation On November 8, 2018, Molecular Insight Pharmaceuticals, Inc., a subsidiary of Progenics (“MIP”), filed a complaint against the University of Heidelberg (the “University”) in the District Court of Mannheim in Germany (the “German District Court”). In this Complaint, MIP claimed that the discovery and development of PSMA-617 was related to work performed under a research collaboration sponsored by MIP. MIP alleged that the University breached certain contracts with MIP and that MIP is the co-owner of inventions embodied in certain worldwide patent filings related to PSMA-617 that were filed by the University. On February 27, 2019, Endocyte, Inc., a wholly owned subsidiary of Novartis AG, filed a motion to intervene in the German litigation. Endocyte is the exclusive licensee of the patent rights that are the subject of the German proceedings. On November 27, 2018, MIP requested that the European Patent Office (“EPO”) stay the examination of a certain European Patent (EP) and related Divisional Applications, pending a decision from the German District Court on MIP’s Complaint. On December 10, 2018, the EPO granted MIP’s request and stayed the examination of the patent and patent applications effective November 27, 2018. MIP filed a Confirmation of Ownership with the United States Patent and Trademark Office (“USPTO”) in the corresponding US patent applications. MIP’s filing with the USPTO takes the position that, in light of the collaboration and contracts between MIP and the University, MIP is the co-owner of these pending U.S. patent applications. On March 6, 2020, MIP filed with the USPTO a notice stating that the Power of Attorney in certain pending US patent applications was signed by less than all applicants or owners of the applications. On February 27, 2019, the German District Court set €0.4 million as the amount MIP must deposit with the German District Court as security in the event of an unfavorable final decision on the merits of the dispute. The German District Court held the first oral hearing in the case on August 6, 2019. The German District Court considered procedural matters and granted the parties the right to make further submissions. A further oral hearing occurred July 23, 2020, during which the German District Court heard live testimony from several witnesses, testifying on behalf of the defendants. On August 24, 2020, the German District Court issued its decision dismissing MIP’s claims, stating that MIP failed to discharge its burden of proof in the matter. On September 24, 2020, MIP filed a Notice of Appeal of the German District Court’s decision. MIP is also considering its legal and procedural alternatives against the defendants in other jurisdictions and proceedings. If MIP is not successful in its appeal, it will be responsible for the German District Court fees and fees and disbursements of defendant’s and intervenor’s counsel, both at first instance and on appeal. Most of such fees and disbursements at first instance are covered by the aforementioned cash security deposited with the German District Court. Because the outcome of litigation is uncertain, we cannot predict how or when this matter will ultimately be resolved. Whistleblower Complaint In July 2019, Progenics received notification of a complaint submitted by Dr. Syed Mahmood, the former Vice President of Medical Affairs for Progenics, to the Occupational Safety and Health Administration of the United States Department of Labor (“DOL”), alleging that the termination of his employment by Progenics was in violation of Section 806 of the Sarbanes-Oxley Act of 2002 (“SOX”). Dr. Mahmood sought reinstatement to his former position of Vice President of Medical Affairs, back pay, front pay in lieu of reinstatement, interest, attorneys’ fees and costs incurred, and special damages. In March 2020, Dr. Mahmood filed a complaint in the U.S. District Court for the Southern District of New York (as permitted by SOX because the DOL had not issued a decision within 180 days). Dr. Mahmood’s federal complaint asserts claims of violation of Section 806 of SOX. The DOL action has been dismissed and the matter will proceed in federal district court. Progenics filed an answer to Dr. Mahmood’s complaint on August 26, 2020 and the initial pre-trial conference was held on September 16, 2020. The Company believes the claims in this matter are without merit, and the Company has meritorious defenses to the claims. The Company intends to vigorously defend against the claims. The Company is unable to estimate the potential liability with respect to the legal matters noted above. There are numerous factors that make it difficult to estimate reasonably possible loss or range of loss at the various stages of the legal proceedings noted above, including the significant number of legal and factual issues still to be resolved in those various legal proceedings.

Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

The Company reports two operating segments, U.S. and International, based on geographic customer base. The results of these operating segments are regularly reviewed by the Company’s chief operating decision maker, the President and Chief Executive Officer. The Company’s segments derive revenues through the manufacture, marketing, selling and distribution of innovative diagnostic and therapeutic agents and products. All goodwill has been allocated to the U.S. operating segment. The Company does not identify or allocate assets to its segments.

Selected information regarding the Company’s segments is provided as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Revenue by product from external customers
U.S.
DEFINITY	$	53,792	$	50,917	$	148,346	$	154,099
TechneLite	17,652		18,281		52,599		55,204
Other nuclear	11,571		9,355		26,437		28,006
Rebates and allowances	(5,540)		(3,903)		(13,763)		(12,035)
Total U.S. Revenues	77,475		74,650		213,619		225,274
International
DEFINITY	1,637		1,478		4,239		4,036
TechneLite	3,837		3,466		10,897		10,794
Other nuclear	5,596		6,186		16,507		17,901
Rebates and allowances	(1)		(4)		(4)		(14)
Total International Revenues	11,069		11,126		31,639		32,717
Worldwide
DEFINITY	55,429		52,395		152,585		158,135
TechneLite	21,489		21,747		63,496		65,998
Other nuclear	17,167		15,541		42,944		45,907
Rebates and allowances	(5,541)		(3,907)		(13,767)		(12,049)
Total Revenues	$	88,544	$	85,776	$	245,258	$	257,991


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019




Operating (loss) income
U.S.	$	(6,621)	$	6,389	$	(7,634)	$	33,662
International	1,371		2,128		3,964		5,561
Total operating (loss) income	(5,250)		8,517		(3,670)		39,223
Interest expense	2,808		2,356		6,668		11,491
Loss on extinguishment of debt	—		—		—		3,196
Other (income) loss	(596)		804		(1,702)		(1,695)
(Loss) income before income taxes	$	(7,462)	$	5,357	$	(8,636)	$	26,231

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
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+ Details

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Holdings and its direct and indirect wholly-owned subsidiaries, including Progenics Pharmaceuticals, Inc., a Delaware corporation (“Progenics”) for the period from June 19 through September 30, 2020 (see “Acquisition of Progenics” below), and have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ended December 31, 2020 or any future period.

The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities Exchange Commission (“SEC”) on February 25, 2020.

Derivative Instruments

Derivative Instruments The Company uses interest rate swaps to reduce the variability in cash flows associated with a portion of the Company’s forecasted interest payments on its variable rate debt. To qualify for hedge accounting, the hedging instrument must be highly effective at reducing the risk from the exposure being hedged. Further, the Company must formally document the hedging relationship at inception and, on at least a quarterly basis, continually reevaluate the relationship to ensure it remains highly effective throughout the life of the hedge. The Company does not enter into derivative financial instruments for speculative or trading purposes.

Business Combinations

Contingent Consideration Liabilities

Intangible and Long-Lived Assets

Recent Accounting Pronouncements


Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted

Accounting Standards Adopted During the Nine Months Ended September 30, 2020
ASU 2020-04, “Reference Rate Reform (Topic 848)”	This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326)”	This ASU requires financial instruments measured at amortized cost and accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts that affect the collectability of the reported amount.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Recent Accounting Pronouncements


Standard	Description	Effective Date for Company	Effect on the Condensed Consolidated Financial Statements
Recently Issued Accounting Standards Not Yet Adopted

Accounting Standards Adopted During the Nine Months Ended September 30, 2020
ASU 2020-04, “Reference Rate Reform (Topic 848)”	This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.
ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326)”	This ASU requires financial instruments measured at amortized cost and accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts that affect the collectability of the reported amount.	January 1, 2020	The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

The following table summarizes revenue by revenue source and reportable segment as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
Major Products/Service Lines by Segment (in thousands)	2020		2019		2020		2019
U.S.
Product revenue, net(1)	$	73,080	$	74,650	$	208,482	$	225,274
License and royalty revenues	4,395		—		5,137		—
Total U.S. revenues	77,475		74,650		213,619		225,274
International
Product revenue, net(1)	10,581		10,587		30,319		31,123
License and royalty revenues	488		539		1,320		1,594
Total International revenues	11,069		11,126		31,639		32,717
Total revenues	$	88,544	$	85,776	$	245,258	$	257,991

________________________________

(1)The Company’s principal products include DEFINITY and TechneLite and are categorized within product revenue, net. The Company applies the

same revenue recognition policies and judgments for all of its principal products.

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

The tables below present information about the Company’s assets and liabilities measured at fair value on a recurring basis:


	September 30, 2020
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market	$	43,710	$	43,710	$	—	$	—
Contingent receivable	10,200		—		—		10,200
Total assets	$	53,910	$	43,710	$	—	$	10,200
Liabilities:
Interest rate swaps	$	2,073	$	—	$	2,073	$	—
Contingent consideration liabilities	17,200		—		—		17,200
Total liabilities	$	19,273	$	—	$	2,073	$	17,200


	December 31, 2019
(in thousands)	Total Fair Value		Level 1		Level 2		Level 3
Assets:
Money market	$	39,530	$	39,530	$	—	$	—
Total assets	$	39,530	$	39,530	$	—	$	—

Fair Value Measurement Inputs and Valuation Techniques

The following tables summarize quantitative information and assumptions pertaining to the fair value measurement of assets and liabilities using Level 3 inputs at September 30, 2020.


(in thousands)	Fair Value at September 30, 2020		Valuation Technique	Unobservable Input	Assumption
Contingent receivable:
Regulatory milestone	$	3,100	Probability adjusted discounted cash flow model	Period of expected milestone achievement	2021
				Probability of success	90	%
				Discount rate	23	%
Royalties	7,100		Probability adjusted discounted cash flow model
				Probability of success	13% - 77%
				Discount rate	23	%
Total	$	10,200


(in thousands)	Fair Value at September 30, 2020		Valuation Technique	Unobservable Input	Assumption
Contingent consideration liability:
Net sales targets - PyL (CVRs)	$	3,900	Monte-Carlo simulation	Period of expected milestone achievement	2022 - 2023

				Discount rate	24	%

1095 commercialization milestone	2,200		Probability adjusted discounted cash flow model	Period of expected milestone achievement	2026
				Probability of success	45	%
				Discount rate	0.48	%





Net sales targets - AZEDRA and 1095	11,100		Monte-Carlo simulation	Probability of success	40% - 100%
				Discount rate	23% - 24%
Total	$	17,200

Schedule of financial instruments with significant Level 3 inputs

For those financial instruments with significant Level 3 inputs, the following table summarizes the activities for the periods indicated:


	Financial Assets		Financial Liabilities
(in thousands)	Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2020
Fair value, beginning of period	$	—	$	—
Progenics acquisition	10,100		16,300
Changes in fair value included in net loss	100		900

Fair value, end of period	$	10,200	$	17,200

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of income tax expense

The Company’s income tax expense is presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Income tax (benefit) expense	$	(1,076)	$	501	$	1,425	$	5,014

Inventory (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Schedule of inventory

Inventory consisted of the following:


(in thousands)	September 30, 2020		December 31, 2019
Raw materials	$	15,774	$	11,417
Work in process	14,330		9,450
Finished goods	7,519		8,313
Total inventory	$	37,623	$	29,180

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant, and equipment, net

Property, plant and equipment, net, consisted of the following:


(in thousands)	September 30, 2020		December 31, 2019
Land	$	13,450	$	13,450
Buildings	70,263		75,654
Machinery, equipment and fixtures	92,012		87,763
Computer software	20,974		20,739
Construction in progress	14,395		10,546
	211,094		208,152
Less: accumulated depreciation and amortization	(88,713)		(91,655)
Total property, plant and equipment, net	$	122,381	$	116,497

Business Combinations (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of business acquisition

The acquisition date fair value of the consideration transferred in the acquisition consisted of the following:


(in thousands)	Amount
Issuance of common stock	$	398,110
Fair value of replacement options	7,125
Fair value of bridge loan settled at close	10,074
Fair value of contingent considerations (CVRs)	3,700
Total consideration transferred(1)	$	419,009

(1)Non-cash investing and financing activities in the condensed consolidated statements of cash flows

Schedule of fair value disclosure of asset and liability

The preliminary fair value of the assets acquired and liabilities assumed were as follows:


(in thousands)	Amount
Cash and cash equivalents	$	15,421
Accounts receivable	5,787
Inventory	915
Other current assets	3,250
Property, plant and equipment	14,972
Identifiable intangible assets (weighted average useful life):
Currently marketed product (15 years)	142,100
Licenses (11.5 years)	87,500
Developed technology (9 years)	3,000
IPR&D	150,900

Other long-term assets	37,631
Accounts payable	(1,616)
Accrued expenses and other liabilities	(8,207)
Other long-term liabilities	(30,778)
Long-term debt and other borrowings	(40,200)
Deferred tax liabilities	(3,717)
Goodwill	42,051
Total consideration transferred	$	419,009

Schedule pro forma financial information

The following unaudited pro forma financial information presents the Company’s results as if the Progenics acquisition had occurred on January 1, 2019:


	Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2019
(in thousands)	Amount		Amount
Pro forma revenue	$	256,163	$	277,851
Pro forma net loss	27,143		47,032

Asset Retirement Obligations (Tables)

9 Months Ended

Sep. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

Summary of changes in asset retirement obligations

The following table provides a summary of the changes in the Company’s asset retirement obligations:


(in thousands)	Amount
Balance at January 1, 2020	$	12,883

Accretion expense	1,079
Balance at September 30, 2020	$	13,962

Intangibles, Net (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangibles

Intangibles, net, consisted of the following:


	September 30, 2020
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,820)	$	2,720
Customer relationships	Accelerated	98,966		(95,528)		3,438
Currently marketed product	Straight-Line	142,100		(2,658)		139,442
Licenses	Straight-Line	87,500		(2,159)		85,341
Developed technology	Straight-Line	3,000		(94)		2,906
IPR&D	N/A	150,900		—		150,900
Total		$	496,006	$	(111,259)	$	384,747


	December 31, 2019
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,407)	$	3,133
Customer relationships	Accelerated	99,019		(94,816)		4,203
Total		$	112,559	$	(105,223)	$	7,336

Schedule of intangibles

Intangibles, net, consisted of the following:


	September 30, 2020
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,820)	$	2,720
Customer relationships	Accelerated	98,966		(95,528)		3,438
Currently marketed product	Straight-Line	142,100		(2,658)		139,442
Licenses	Straight-Line	87,500		(2,159)		85,341
Developed technology	Straight-Line	3,000		(94)		2,906
IPR&D	N/A	150,900		—		150,900
Total		$	496,006	$	(111,259)	$	384,747


	December 31, 2019
(in thousands)	Amortization Method	Cost		Accumulated Amortization		Net
Trademarks	Straight-Line	$	13,540	$	(10,407)	$	3,133
Customer relationships	Accelerated	99,019		(94,816)		4,203
Total		$	112,559	$	(105,223)	$	7,336

Schedule of expected future amortization expense

The below table summarizes the estimated aggregate amortization expense expected to be recognized on the above intangible assets:


(in thousands)	Amount
2020	$	4,769
2021	18,813
2022	18,684
2023	18,074
2024	17,998
2025 and thereafter	155,509
Total	$	233,847

Long-Term Debt, Net, and Other Borrowings (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of maturities of principal obligations

As of September 30, 2020, the Company’s maturities of principal obligations under its long-term debt and other borrowings are as follows:


(in thousands)	Amount
Remainder of 2020	$	4,328
2021	19,588
2022	26,217
2023	22,928
2024	148,750

Total principal outstanding	221,811
Unamortized debt premium	1,230
Unamortized debt issuance costs	(644)

Finance lease liabilities	410

Total	222,807
Less: current portion	(18,138)
Total long-term debt, net and other borrowings	$	204,669

Schedule of total net leverage ratio

The maximum total net leverage ratio and interest coverage ratio permitted by the financial covenant is displayed in the table below:


2020 Amended Credit Agreement
Period			Total Net Leverage Ratio
Q1 2021			5.50 to 1.00
Q2 2021			3.75 to 1.00
Thereafter			3.50 to 1.00

Period			Interest Coverage Ratio
Q3 2020 to Q1 2021			2.00 to 1.00
Thereafter			3.00 to 1.00

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The following table presents the location and fair value amounts of derivative instruments reported in the condensed consolidated balance sheet:

(in thousands)

September 30, 2020

December 31, 2019

Derivatives type

Classification

Liabilities:

Interest rate swap

Accrued expenses and other liabilities

2,073

—

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of accumulated other comprehensive income

The components of Accumulated Other Comprehensive Loss, net of tax of $0.5 million and $0.0 million for the nine months ended September 30, 2020 and 2019, respectively, consisted of the following:


(in thousands)	Foreign currency translation		Unrealized loss on cash flow hedges		Accumulated other comprehensive loss
Balance at January 1, 2020	$	(960)	$	—	$	(960)
Other comprehensive loss before reclassifications	(9)		(1,784)		(1,793)
Amounts reclassified to earnings	—		243		243
Balance at September 30, 2020	$	(969)	$	(1,541)	$	(2,510)

Balance at January 1, 2019	$	(1,108)	$	—	$	(1,108)
Other comprehensive income before reclassifications	111		—		111
Amounts reclassified to earnings	—		—		—
Balance at September 30, 2019	$	(997)	$	—	$	(997)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense recognized

The following table presents stock-based compensation expense recognized in the Company’s accompanying condensed consolidated statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Cost of goods sold	$	864	$	568	$	2,127	$	1,539
Sales and marketing	621		518		1,268		1,477
General and administrative	1,926		1,948		5,735		5,403
Research and development	581		389		1,322		1,082
Total stock-based compensation expense	$	3,992	$	3,423	$	10,452	$	9,501

Net (Loss) Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Summary of net (loss) income per common share

A summary of net (loss) income per common share is presented below:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2020		2019		2020		2019
Net (loss) income	$	(6,386)	$	4,856	$	(10,061)	$	21,217

Basic weighted-average common shares outstanding	66,820		39,123		49,858		38,901
Effect of dilutive stock options	—		85		—		82
Effect of dilutive restricted stock	—		1,078		—		1,140

Diluted weighted-average common shares outstanding	66,820		40,286		49,858		40,123

Basic (loss) income per common share	$	(0.10)	$	0.12	$	(0.20)	$	0.55
Diluted (loss) income per common share	$	(0.10)	$	0.12	$	(0.20)	$	0.53

Antidilutive securities excluded from diluted net (loss) income per common share	2,588		48		1,657		44

Other (Income) Loss (Tables)

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Schedule of other income

Other (income) loss consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Foreign currency (gains) losses	$	(33)	$	96	$	187	$	7
Tax indemnification (income) expense, net	(555)		762		(1,664)		(842)
Interest income	(7)		(54)		(221)		(613)
Other	(1)		—		(4)		(247)
Total other (income) loss	$	(596)	$	804	$	(1,702)	$	(1,695)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of segment information

Selected information regarding the Company’s segments is provided as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Revenue by product from external customers
U.S.
DEFINITY	$	53,792	$	50,917	$	148,346	$	154,099
TechneLite	17,652		18,281		52,599		55,204
Other nuclear	11,571		9,355		26,437		28,006
Rebates and allowances	(5,540)		(3,903)		(13,763)		(12,035)
Total U.S. Revenues	77,475		74,650		213,619		225,274
International
DEFINITY	1,637		1,478		4,239		4,036
TechneLite	3,837		3,466		10,897		10,794
Other nuclear	5,596		6,186		16,507		17,901
Rebates and allowances	(1)		(4)		(4)		(14)
Total International Revenues	11,069		11,126		31,639		32,717
Worldwide
DEFINITY	55,429		52,395		152,585		158,135
TechneLite	21,489		21,747		63,496		65,998
Other nuclear	17,167		15,541		42,944		45,907
Rebates and allowances	(5,541)		(3,907)		(13,767)		(12,049)
Total Revenues	$	88,544	$	85,776	$	245,258	$	257,991


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019




Operating (loss) income
U.S.	$	(6,621)	$	6,389	$	(7,634)	$	33,662
International	1,371		2,128		3,964		5,561
Total operating (loss) income	(5,250)		8,517		(3,670)		39,223
Interest expense	2,808		2,356		6,668		11,491
Loss on extinguishment of debt	—		—		—		3,196
Other (income) loss	(596)		804		(1,702)		(1,695)
(Loss) income before income taxes	$	(7,462)	$	5,357	$	(8,636)	$	26,231

Basis of Presentation (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	Feb. 20, 2020 USD ($) contingent_value_right $ / shares shares	Sep. 30, 2020 USD ($) day $ / shares shares	Jun. 19, 2020 USD ($)	Dec. 31, 2019 $ / shares
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01		$ 0.01
Contingent consideration liabilities \| $		$ 17,200
Business combination, consideration transferred, equity interests issued (in shares)		26,844,877
Business combination common stock under contingent value right (in shares)		86,630,633
Shares available for future issuance (in shares)		4,211,290
Maximum
Business Acquisition [Line Items]
No of working days \| day		5
Minimum
Business Acquisition [Line Items]
No of working days \| day		4
Progenics
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0013
Progenics
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Shares to be received from acquisition conversion (in shares)	0.31
Percentage of net sales, contingent consideration	40.00%
Contingent consideration liabilities \| $			$ 3,700
Percentage of total contingent consideration under CVRs	19.90%
Business combination contingent value right of total consideration \| $	$ 100,000
Business combination, common stock per share exercise price not to exceeded (in dollars per share) \| $ / shares	$ 4.42
Business combination stock options assumed in the money (in shares)	34,000
Business combination stock options assumed out of the money (in shares)	6,507,342
Number of CVRs \| contingent_value_right	1
Progenics \| Cash Payments 2022
Business Acquisition [Line Items]
Contingent consideration liabilities \| $	$ 100,000
Progenics \| Cash Payments 2023
Business Acquisition [Line Items]
Contingent consideration liabilities \| $	$ 150,000

Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 88,544	$ 85,776	$ 245,258	$ 257,991
U.S.
Disaggregation of Revenue [Line Items]
Revenues	77,475	74,650	213,619	225,274
U.S. \| Product revenue, net
Disaggregation of Revenue [Line Items]
Revenues	73,080	74,650	208,482	225,274
U.S. \| License and royalty revenues
Disaggregation of Revenue [Line Items]
Revenues	4,395	0	5,137	0
International
Disaggregation of Revenue [Line Items]
Revenues	11,069	11,126	31,639	32,717
International \| Product revenue, net
Disaggregation of Revenue [Line Items]
Revenues	10,581	10,587	30,319	31,123
International \| License and royalty revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 488	$ 539	$ 1,320	$ 1,594

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on A Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable	$ 10,200
Total assets	53,910	$ 39,530
Contingent consideration liabilities	17,200
Total liabilities	19,273
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable	0
Total assets	43,710	39,530
Contingent consideration liabilities	0
Total liabilities	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable	0
Total assets	0	0
Contingent consideration liabilities	0
Total liabilities	2,073
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent receivable	10,200
Total assets	10,200	0
Contingent consideration liabilities	17,200
Total liabilities	17,200
Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	2,073
Interest Rate Swaps \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0
Interest Rate Swaps \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	2,073
Interest Rate Swaps \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0
Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	43,710	39,530
Money market \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	43,710	39,530
Money market \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	0	0
Money market \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market	$ 0	$ 0

Fair Value of Financial Instruments - Narrative (Details)		3 Months Ended		9 Months Ended
	Nov. 04, 2016	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Company acquired right to receive certain future milestone		$ 88,544,000	$ 85,776,000	$ 245,258,000	$ 257,991,000
Royalty percentage	0.50
Progenics Pharmaceuticals Inc
Fair Value, Option, Quantitative Disclosures [Line Items]
Royalty percentage				0.05
Progenics Pharmaceuticals Inc \| Net Sales Targets For Azedra
Fair Value, Option, Quantitative Disclosures [Line Items]
Potential payments, high		70,000,000.0		$ 70,000,000.0
Progenics Pharmaceuticals Inc \| 1095 commercialization milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Potential payments, high		$ 5,000,000.0		5,000,000.0
Royalty \| Progenics Pharmaceuticals Inc
Fair Value, Option, Quantitative Disclosures [Line Items]
Company acquired right to receive certain future milestone				$ 5,000,000.0

- Definition

+ References

+ Details

Fair Value of Financial Instruments - Quantitative Information and Assumptions Pertaining To The Fair Value Measurement of The Level 3 Inputs (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration, Asset	$ 10,200
Contingent consideration liabilities	17,200
Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration, Asset	10,200
Contingent consideration liabilities	17,200
Level 3 \| Regulatory milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration, Asset	3,100
Level 3 \| Royalties
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration, Asset	7,100
Level 3 \| CVRs
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration liabilities	3,900
Level 3 \| 1095 commercialization milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration liabilities	2,200
Level 3 \| Net sales targets - AZEDRA and 1095
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration liabilities	$ 11,100
Level 3 \| Monte-Carlo simulation \| Probability of success \| Net sales targets - AZEDRA and 1095 \| Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.40
Level 3 \| Monte-Carlo simulation \| Probability of success \| Net sales targets - AZEDRA and 1095 \| Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	1
Level 3 \| Monte-Carlo simulation \| Discount rate \| CVRs
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.24
Level 3 \| Monte-Carlo simulation \| Discount rate \| Net sales targets - AZEDRA and 1095 \| Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.23
Level 3 \| Monte-Carlo simulation \| Discount rate \| Net sales targets - AZEDRA and 1095 \| Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.24
Level 3 \| Probability adjusted discounted cash flow model \| Probability of success \| Regulatory milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Asset measurement input	0.90
Level 3 \| Probability adjusted discounted cash flow model \| Probability of success \| Royalties \| Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Asset measurement input	0.13
Level 3 \| Probability adjusted discounted cash flow model \| Probability of success \| Royalties \| Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Asset measurement input	0.77
Level 3 \| Probability adjusted discounted cash flow model \| Probability of success \| 1095 commercialization milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.45
Level 3 \| Probability adjusted discounted cash flow model \| Discount rate \| Regulatory milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Asset measurement input	0.23
Level 3 \| Probability adjusted discounted cash flow model \| Discount rate \| Royalties
Fair Value, Option, Quantitative Disclosures [Line Items]
Asset measurement input	0.23
Level 3 \| Probability adjusted discounted cash flow model \| Discount rate \| 1095 commercialization milestone
Fair Value, Option, Quantitative Disclosures [Line Items]
Liability measurement input	0.0048

Fair Value Measures and Disclosures - Financial Instruments With Significant Level 3 Inputs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Financial Assets
Fair value, beginning of period		$ 0
Progenics acquisition		10,100
Changes in fair value included in net loss		100
Fair value, end of period	$ 10,200	10,200
Financial Liabilities
Fair value, beginning of period		0
Progenics acquisition		16,300
Changes in fair value included in net loss		900
Fair value, end of period	17,200	17,200
Change in fair value of the contingent financial asset and contingent financial liabilities	$ 800	$ 800

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Valuation Allowance [Line Items]
Income tax (benefit) expense	$ (1,076)	$ 501	$ 1,425	$ 5,014
Foreign
Valuation Allowance [Line Items]
Deferred tax asset, valuation allowance	3,200		3,200
State
Valuation Allowance [Line Items]
Deferred tax asset, valuation allowance	$ 700		$ 700

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 15,774	$ 11,417
Work in process	14,330	9,450
Finished goods	7,519	8,313
Inventory	$ 37,623	$ 29,180

Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	$ 211,094		$ 211,094		$ 208,152
Less: accumulated depreciation and amortization	(88,713)		(88,713)		(91,655)
Total property, plant and equipment, net	122,381		122,381		116,497
Depreciation and amortization expense	3,400	$ 2,500	9,100	$ 7,500
Impairment of long-lived assets			7,275	$ 0
Land
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	13,450		13,450		13,450
Buildings
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	70,263		70,263		75,654
Machinery, equipment and fixtures
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	92,012		92,012		87,763
Computer software
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	20,974		20,974		20,739
Construction in progress
Property, Plant & Equipment [Line Items]
Property, plant & equipment, gross	$ 14,395		$ 14,395		$ 10,546

Business Combinations - Narrative (Details) $ in Thousands		3 Months Ended	9 Months Ended
Business Combinations - Narrative (Details) $ in Thousands	Jun. 19, 2020 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 57,765	$ 57,765	$ 15,714
Progenics
Business Acquisition [Line Items]
Purchase price	$ 419,009
Fair value of bridge loan settled at close	10,074
Acquired contingent receivable	10,100
Goodwill	$ 42,051
Acquisition related costs		$ 1,600	$ 10,500
Progenics \| Discount rate
Business Acquisition [Line Items]
Measurement input		0.240	0.240

Business Combinations - Fair Value of the Consideration Transferred in the Acquisition (Details) - USD ($) $ in Thousands	Jun. 19, 2020	Sep. 30, 2020
Business Acquisition [Line Items]
Fair value of contingent considerations (CVRs)		$ 17,200
Progenics
Business Acquisition [Line Items]
Issuance of common stock	$ 398,110
Fair value of replacement options	7,125
Fair value of bridge loan settled at close	10,074
Fair value of contingent considerations (CVRs)	3,700
Total consideration transferred	$ 419,009

Business Combinations - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 19, 2020	Sep. 30, 2020	Dec. 31, 2019
Business Combination Segment Allocation [Line Items]
Goodwill		$ 57,765	$ 15,714
Progenics
Business Combination Segment Allocation [Line Items]
Cash and cash equivalents	$ 15,421
Accounts receivable	5,787
Inventory	915
Other current assets	3,250
Property, plant and equipment	14,972
Identifiable intangible assets IPR&D	150,900
Other long-term assets	37,631
Accounts payable	(1,616)
Accrued expenses and other liabilities	(8,207)
Other long-term liabilities	(30,778)
Long-term debt and other borrowings	(40,200)
Deferred tax liabilities	(3,717)
Goodwill	42,051
Total consideration transferred	419,009
Currently marketed products \| Progenics
Business Combination Segment Allocation [Line Items]
Identifiable intangible assets	$ 142,100
Identifiable intangible assets useful lives	15 years
Licenses \| Progenics
Business Combination Segment Allocation [Line Items]
Identifiable intangible assets	$ 87,500
Identifiable intangible assets useful lives	11 years 6 months
Developed technology \| Progenics
Business Combination Segment Allocation [Line Items]
Identifiable intangible assets	$ 3,000
Identifiable intangible assets useful lives	9 years

Business Combinations - Pro-Forma (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Pro forma revenue		$ 256,163	$ 277,851
Pro forma net loss		27,143	$ 47,032
Progenics
Business Acquisition [Line Items]
Revenue from acquiree	$ 5,900	6,900
Loss from acquiree	$ (12,600)	$ 15,800

Asset Retirement Obligations (Detail) $ in Thousands	9 Months Ended
Asset Retirement Obligations (Detail) $ in Thousands	Sep. 30, 2020 USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation liabilities expected, present value	$ 26,900
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations, beginning balance	12,883
Accretion expense	1,079
Asset retirement obligations, ending balance	13,962
Financial assurance in form of surety bond	$ 28,200

Intangibles, Net - Schedule of Intangibles, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Cost		$ 112,559
Indefinite lived, Cost	$ 150,900
Total, Cost	496,006
Accumulated Amortization	(111,259)	(105,223)
Total	233,847	7,336
Total, Net	384,747	7,336
Trademarks
Finite-Lived Intangible Assets [Line Items]
Cost	13,540	13,540
Accumulated Amortization	(10,820)	(10,407)
Total	2,720	3,133
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	98,966	99,019
Accumulated Amortization	(95,528)	(94,816)
Total	3,438	$ 4,203
Currently marketed products
Finite-Lived Intangible Assets [Line Items]
Cost	142,100
Accumulated Amortization	(2,658)
Total	139,442
Licenses
Finite-Lived Intangible Assets [Line Items]
Cost	87,500
Accumulated Amortization	(2,159)
Total	85,341
Developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	3,000
Accumulated Amortization	(94)
Total	$ 2,906

Intangibles, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.8	$ 0.5	$ 6.1	$ 1.4

Intangibles, Net - Schedule of Expected Future Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 4,769
2021	18,813
2022	18,684
2023	18,074
2024	17,998
2025 and thereafter	155,509
Total	$ 233,847	$ 7,336

Long-Term Debt, Net, and Other Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Remainder of 2020	$ 4,328
2021	19,588
2022	26,217
2023	22,928
2024	148,750
Total principal outstanding	221,811
Unamortized debt premium	1,230
Unamortized debt issuance costs	(644)
Finance lease liabilities	410
Total	222,807
Less: current portion	(18,138)	$ (10,143)
Total long-term debt, net and other borrowings	$ 204,669	$ 183,927

Long-Term Debt, Net, and Other Borrowings - Narrative (Details)			3 Months Ended
	Jun. 19, 2020 USD ($)	Nov. 04, 2016 USD ($)	Mar. 31, 2020	Sep. 30, 2020
Debt Instrument [Line Items]
Royalty percentage		0.50
2019 Facility
Debt Instrument [Line Items]
Interest rate under long-term debt				3.40%
Amended 2019 Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs	$ 1,200,000
Financial covenant requiring liquidity	150,000,000.0
Progenics
Debt Instrument [Line Items]
Long-term debt and other borrowings	$ 40,200,000
Progenics
Debt Instrument [Line Items]
Debt instrument face amount		$ 50,000,000.0
Interest rate		9.50%
Q1 2021 \| Amended 2019 Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.50%
Q1 2021 \| Amended 2019 Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis rate			3.25%
Q1 2021 \| Amended 2019 Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis rate			2.25%
Maximum \| Thereafter \| Amended 2019 Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.40%
Maximum \| Thereafter \| Amended 2019 Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis rate			3.00%
Maximum \| Thereafter \| Amended 2019 Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis rate			2.00%
Minimum \| Thereafter \| Amended 2019 Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.15%
Minimum \| Thereafter \| Amended 2019 Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis rate			1.50%
Minimum \| Thereafter \| Amended 2019 Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis rate			0.50%

Long-Term Debt, Net, and Other Borrowings - Schedule of Net Leverage Ratio (Details)	9 Months Ended
	Sep. 30, 2020
Q1 2021
Debt Instrument [Line Items]
Total Net Leverage Ratio	5.50
Q2 2021
Debt Instrument [Line Items]
Total Net Leverage Ratio	3.75
Q3 2020 to Q1 2021
Debt Instrument [Line Items]
Interest Coverage Ratio	2.00
Thereafter
Debt Instrument [Line Items]
Total Net Leverage Ratio	3.50
Interest Coverage Ratio	3.00

Derivative Instruments (Detail) - USD ($)	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Pre-tax deferred losses expected to be reclassified to earnings during the next 12 months	$ 600,000
Cash Flow Hedge \| Interest Rate Swaps
Derivative [Line Items]
Notional amount		$ 100,000,000.0
Average fixed interest rate	0.82%
Cash Flow Hedge \| Interest Rate Swaps \| Accrued expenses and other liabilities
Derivative [Line Items]
Liabilities	$ 2,073,000		$ 0

Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, tax	$ 500	$ 0
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	114,601	71,002
Other comprehensive loss before reclassifications	(1,793)	111
Amounts reclassified to earnings	243	0
Ending balance	513,579	101,166
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(960)	(1,108)
Other comprehensive loss before reclassifications	(9)	111
Amounts reclassified to earnings	0	0
Ending balance	(969)	(997)
Unrealized loss on cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0
Other comprehensive loss before reclassifications	(1,784)	0
Amounts reclassified to earnings	243	0
Ending balance	(1,541)	0
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(960)	(1,108)
Ending balance	$ (2,510)	$ (997)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Stock-Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Stock-Based Compensation (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,992	$ 3,423	$ 10,452	$ 9,501
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	864	568	2,127	1,539
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	621	518	1,268	1,477
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,926	1,948	5,735	5,403
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 581	$ 389	$ 1,322	$ 1,082

Net (Loss) Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net (loss) income	$ (6,386)	$ 4,856	$ (10,061)	$ 21,217
Basic weighted-average common shares outstanding (in shares)	66,820	39,123	49,858	38,901
Effect of dilutive stock options (in shares)	0	85	0	82
Effect of dilutive restricted stock (in shares)	0	1,078	0	1,140
Diluted weighted-average common shares outstanding (in shares)	66,820	40,286	49,858	40,123
Basic (loss) income per common share (in dollars per share)	$ (0.10)	$ 0.12	$ (0.20)	$ 0.55
Diluted (loss) income per common share (in dollars per share)	$ (0.10)	$ 0.12	$ (0.20)	$ 0.53
Antidilutive securities excluded from diluted net income per common share (in shares)	2,588	48	1,657	44

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Other (Income) Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Other (Income) Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Foreign currency (gains) losses	$ (33)	$ 96	$ 187	$ 7
Tax indemnification (income) expense, net	(555)	762	(1,664)	(842)
Interest income	(7)	(54)	(221)	(613)
Other	(1)	0	(4)	(247)
Other (income) loss	$ (596)	$ 804	$ (1,702)	$ (1,695)

Commitments and Contingencies (Details)	9 Months Ended
Commitments and Contingencies (Details)	Sep. 30, 2020 patent	Feb. 27, 2019 EUR (€)
Loss Contingencies [Line Items]
Number of patents \| patent	3
MIP
Loss Contingencies [Line Items]
Court deposit \| €		€ 400,000

Segment Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Detail) $ in Thousands	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) segment	Sep. 30, 2019 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment			2
Geographical revenues
Revenues	$ 88,544	$ 85,776	$ 245,258	$ 257,991
Operating (loss) income	(5,250)	8,517	(3,670)	39,223
Interest expense	2,808	2,356	6,668	11,491
Loss on extinguishment of debt	0	0	0	3,196
Other (income) loss	(596)	804	(1,702)	(1,695)
(Loss) income before income taxes	(7,462)	5,357	(8,636)	26,231
DEFINITY
Geographical revenues
Revenues	55,429	52,395	152,585	158,135
TechneLite
Geographical revenues
Revenues	21,489	21,747	63,496	65,998
Other nuclear
Geographical revenues
Revenues	17,167	15,541	42,944	45,907
Rebates and allowances
Geographical revenues
Revenues	(5,541)	(3,907)	(13,767)	(12,049)
U.S.
Geographical revenues
Revenues	77,475	74,650	213,619	225,274
Operating (loss) income	(6,621)	6,389	(7,634)	33,662
U.S. \| DEFINITY
Geographical revenues
Revenues	53,792	50,917	148,346	154,099
U.S. \| TechneLite
Geographical revenues
Revenues	17,652	18,281	52,599	55,204
U.S. \| Other nuclear
Geographical revenues
Revenues	11,571	9,355	26,437	28,006
U.S. \| Rebates and allowances
Geographical revenues
Revenues	(5,540)	(3,903)	(13,763)	(12,035)
International
Geographical revenues
Revenues	11,069	11,126	31,639	32,717
Operating (loss) income	1,371	2,128	3,964	5,561
International \| DEFINITY
Geographical revenues
Revenues	1,637	1,478	4,239	4,036
International \| TechneLite
Geographical revenues
Revenues	3,837	3,466	10,897	10,794
International \| Other nuclear
Geographical revenues
Revenues	5,596	6,186	16,507	17,901
International \| Rebates and allowances
Geographical revenues
Revenues	$ (1)	$ (4)	$ (4)	$ (14)

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 2,141,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 0