Lantheus Holdings, Inc.

Good morning. Welcome to Lanthias' second quarter 2025 conference call. All lines have been placed on mute. This call is being recorded and a replay will be available in the Investors section of the company's website approximately two hours after the completion of the call and will be archived for at least 30 days. I'll now turn the call over to Mark Canarney, Vice President of Investor Relations. Mark?

Thank you. Good morning. With me today are Brian Markeson, our CEO, Paul Blanchfield, our President, and Bob Marshall, our CFO. We will begin with prepared remarks and then take your questions. This morning we issued a press release which was furnished to the SEC under Form 8K reporting our second quarter 2025 results. The release and today's slide presentation are available in the Investors section of our website. Any comments could include forward-looking statements. Actual results may differ materially from these statements due to a variety of risks and uncertainties which are detailed in our SEC filings. Discussions will also include certain non-GAAP financial measures. Reconciliation of these measures to the most directly comparable GAAP financial measures is included in the Investors section of our website. I will now turn the call over to our CEO, Brian.

Thank you, Mark, and thank you for joining us today. This morning we announced second quarter results that were below expectations and also lowered our financial outlook for the remainder of 2025. Before I go into the broader steps that we are taking to diversify our business and establish a new growth trajectory for the company, I want to drill down on Polarify and the current dynamics in the PSMA pet market. In the back half of the quarter, the confluence of MUC-based reimbursements and aggressive discounting by what had been a somewhat dormant F-18 competitor