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Telix Pharmaceuticals

AU: TLX

Market CapAU$1963m

Last Close AU$6.97

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 (MTR).

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Investment summary

Telix is developing diagnostic and therapeutic radiopharmaceuticals for kidney, prostate and brain cancers. Its molecularly targeted radiation (MTR) potentially offers better informed treatment decisions and personalized therapy. Its lead product Illuccix (TLX591) for prostate cancer imaging has been filed in the United States and Europe. Telix expects to fully enrol the ZIRCON Phase III for kidney cancer imaging agent TLX250-CDx in 2021.

Y/E Dec
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 15.2 (24.3) (31.1) (11.94) N/A N/A
2020A 17.5 (39.3) (47.9) (17.45) N/A 860.5
2021E 23.6 (41.4) (45.9) (15.74) N/A N/A
2022E 33.6 (41.1) (46.0) (15.17) N/A N/A
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 2018 Novartis acquired prostate cancer radiopharmaceutical developer, Endocyte for US$2.1bn.

Last updated on 21/09/2021
Content on Telix Pharmaceuticals
Telix Pharmaceuticals – Edison Open House interview
Healthcare | Edison TV | 3 February 2021
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Share price graph
Balance sheet
Forecast net cash (A$m) 22.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 1.2 20.8 296.0
Relative* 3.3 19.6 214.9
52-week high/low A$7.5/A$1.6
*% relative to local index
Key management
Christian Behrenbruch CEO
Douglas Cubbin CFO