So the saying goes "A picture tell a thousand words" :)

Lantheus appears to be a "roll up" from different companies. I know there are mixed opinions on investing in roll-ups but in this case the acquisitions seemed to have executed well.

Anyway back to the topic, Lantheus acquired MK-2640 when they took over Cerveau Tech and it seems to have been worked on for many years. So there is much more than a simple statement of whether or not one can access it due to their illness.

In my opinion, I believe a number of things have to happen for this to be a success

1. Can results be repeated and make the same conclusion?
2. Can the product scale?
3. After scaling, can the results and conclusions still be repeated
4. Can the product be manufactured at scale and rolled out worldwide?

It may take years to complete those milestones so everyone such as Cogstate has time to adjust if this is indeed disruptive - I'm hoping it isn't too disruptive or just maybe complimentary. And I don't know all the potential applications of MK-2640 - maybe someone with more medical background can comment. But if Lantheus acquired MK-2640, their management must have confidence that this will be a commercial success.

The Lantheus call is on Factset and CapitalIQ Pro. Lantheus seems pretty upbeat about what they have overall when I listened, not just PSMA and MK-2640 but all the other stuff they have.

Have to say, Lantheus management seem worlds apart in comparison to both Telix and Cogstate in terms of communication and execution.

@edgescape I saw your post on this on HC, but I thought I'd answer here.

I share the thoughts of @Marsdrix. MK-6240 might be competing with other PET or MRI scanning technologies - to stage, diagnose and segment patients - but it shouldn't disregard the need to measure cognitive decline via cognitive tests. At the end of the day, cognitive decline and impacts to a patient's daily life is what everyone cares about - not amyloid levels, tau levels or brain volume. Would big pharma companies spend 100s of millions of dollars on clinical trials, skip the relatively cheap cognitive tests and have the FDA infer cognitive decline from imaging data?

For TRAILBLAZER-ALZ 2 - Lilly's Donanemab Phase 3 trial that recently had positive results - you can see PET scans are already used to measure Tau levels, which is what MK-6240 is competing with.

Correct me if I am wrong, but I was under the impression MK-6240 is a tracer for enhancing the PET scan for Tau and thus see things that are not obvious if MK-6240 was not used. So it is competing against other tracers. Did Lilly say which tracer they used?

Anyway it is used in only 60 clinical trials so far and we don't know the growth at which the trials grew and it is still early days. So maybe that's a bit reassuring for CGS.

Having said that, many people didn't see the potential of radiopharma in cancer imaging (excluding therapy) and still don't understand the growth till now after Lantheus discussed a few things on their earnings call.

Whether the same growth effect will be seen with MK-6240 is still a big uncertainty. But we can't ignore the fact that Lantheus bought the company so they must see value. Another thing is the milestone payments meaning there is still some development that needs to be done.

I'm hoping someone else can go through the Lantheus / Cerveau Tech sites and put more info and verify or debunk my points. I'm open to be proven wrong. And I think those that are still serious about Cogstate should take a look and do a bit of analysis on a peer/competitor even if it is not related.

I need to catch up on my finance study :(