Telix Pharmaceuticals Revives US Listing Amid Plans to Double Sales

Highlights:

• Revenue Growth Projections: Telix Pharmaceuticals Limited (ASX: TLX) expects full-year revenue to reach up to $776 million, with plans to exceed $1 billion in sales by June 2025, driven by the launch of new cancer therapies.
• Nasdaq Listing Revival: The company has revived plans for a secondary listing on the Nasdaq, though it will not raise new capital, leveraging $650 million raised earlier through convertible bonds.
• Product and Market Expansion: Telix anticipates regulatory approval for its prostate cancer imaging drug, Illuccix, in Europe, the UK, and Brazil, alongside the launch of three new cancer treatments in 2025.

US Expansion and New Product Launches Set to Boost Growth

Telix Pharmaceuticals Limited (ASX: TLX) is reigniting its plans for a US Nasdaq listing, with CEO Christian Behrenbruch predicting significant growth in the coming years. The Melbourne-based company expects to double its sales over the next four years, driven by the launch of three new cancer treatments.

Sales Forecast and Nasdaq Listing

At the time of writing, Telix forecasts full-year revenue to hit the upper range of $745 million to $776 million, with projected sales exceeding $1 billion by June 2025. The company’s current revenue is primarily derived from its prostate cancer imaging drug, Illuccix, with strong performance in the North American market. Telix had previously paused its US listing plans but is now proceeding, though it won’t raise new capital as it plans to utilize the $650 million raised in convertible bonds earlier this year.

New Therapies and Global Approvals

Telix's growth is also expected to surge as Illuccix gains approvals in new regions, including Europe, the UK, and Brazil. Furthermore, the company is preparing to launch three new cancer therapies in 2025, targeting prostate, kidney, and brain cancers, which Behrenbruch believes will significantly enhance revenues.

Strategic Acquisitions Strengthen Market Position

As part of its $1 billion acquisition spree, Telix recently acquired a large radiopharmacy network in the US, further cementing its position as a major supplier of radioisotope-based cancer treatments. With its innovative nuclear medicine therapies and an expanding global footprint, Telix is poised for substantial growth.

Telix shares were trading 73¢ higher at $21.73 on Friday, reflecting investor confidence in the company’s ambitious plans.

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