Magnetic-resonance-imaging-2

Telix Pharmaceuticals

AU: TLX

AU$1136.7m market cap

AU$4.04 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 (MTR).

Investment summary

Telix is developing diagnostic and therapeutic radiopharmaceuticals for kidney, prostate and brain cancers. It is commercialising TLX591-CDx in the US and Europe and on 24 September 2020 the company announced that it had submitted its NDA to the FDA for approval. Telix expects to fully enrol the ZIRCON Phase III for kidney cancer imaging agent TLX250-CDx in early 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 498.8
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 13/04/2021
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Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 22.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 4.7 (2.4) 238.1
Relative* 1.5 (6.2) 154.3
52-week high/low A$4.7/A$1.1
*% relative to local index
Key management
Christian Behrenbruch CEO
Douglas Cubbin CFO

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