Telix Pharmaceuticals Limited (ASX: TLX) Exceeds FY24 Revenue Guidance
Robust Q4 Revenue Performance
Telix Pharmaceuticals Limited (ASX: TLX) reported unaudited revenue of approximately US$142 million (AU$218 million) for Q4 2024. This figure marks a 46% increase compared to the same quarter last year and a 5% rise from Q3 2024.
Exceeding Full Year Guidance
For the fiscal year 2024, Telix achieved total unaudited revenue of approximately US$517 million (AU$783 million), surpassing the previous forecast of US$490 million to US$510 million. This represents a 55% increase over FY2023, with R&D investments funded through earnings from product sales.
Strategic Developments
Dr. Christian Behrenbruch, Managing Director and Group Chief Executive Officer of Telix, commented, “This has been another great quarter of commercial performance. Strong sales of Illuccix have led Telix to close out the year with revenue above guidance.” He added that the company made significant progress on its strategic priorities and announced plans to launch multiple imaging products in key markets in 2025, which he described as a transformative year for the company.
Advancements in Therapeutics and Imaging
Telix progressed several therapeutic candidates, with the prostate cancer therapy candidate TLX591 advancing to the ProstACT GLOBAL trial, and the kidney cancer candidate TLX250 entering discussions for a pivotal trial with the FDA. The imaging candidate TLX250-CDx has also seen substantial developments, including a recent Biologics License Application submission.
Telix has formed a new partnership with Subtle Medical for AI-powered PET imaging, enhancing operational efficiencies. Additionally, the acquisition of Fibroblast Activation Protein-targeting assets further strengthens Telix’s therapeutic pipeline.
Corporate Milestones
In a notable corporate milestone, Telix’s American Depository Shares began trading on the Nasdaq under the symbol ‘TLX’, while the company continues to maintain its primary listing on the Australian Securities Exchange (ASX).
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