Telix Pharmaceuticals

AU: TLX

AU$250.6m market cap

AU$1.35 last close

Telix Pharmaceuticals is a Melbourne-headquartered global biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or molecularly targeted radiation.

Investment summary

Telix Pharmaceuticals is making progress on all fronts and recently announced that it has reached an agreement with the Japanese Pharmaceutical and Medical Device Agency (PMDA) to perform a 40-patient bridging study in Japan to support the approval of TLX250-CDx for the detection of renal cancer. Additionally, the company announced the details of its meeting with the FDA to discuss the NDA submission for illumet (TLX591-CDx), which appears to be near completion and may be submitted shortly.

Y/E Dec
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.4 (6.4) (6.4) (4.98) N/A N/A
2018A 10.3 (17.5) (15.7) (6.84) N/A N/A
2019E 14.2 (16.7) (20.8) (9.53) N/A N/A
2020E 14.4 (15.8) (19.8) (9.06) N/A N/A
Last updated on 13/09/2019
Industry outlook

Big pharma has shown keen interest in MTR products. In 2017 Novartis acquired Advanced Accelerator Applications, the developer of the MTR therapeutic Lutathera, for US$3.9bn. In 2014 Bayer acquired Algeta for ~US$2.6bn; Algeta had developed Xofigo, a therapeutic radiopharmaceutical for prostate cancer. In December Novartis acquired prostate cancer radiopharmaceutical developer Endocyte for US$2.1bn.

Last updated on 13/09/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 44
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (5.3) 39.2 63.6
Relative* (7.1) 35.9 50.7
52-week high/low A$1.7/A$0.6
*% relative to local index
Key management
Christian Behrenbruch CEO
Douglas Cubbin CFO