One ASX Pharma Stock Investors Should Keep on Their Radar

Strong revenue growth and progress across its clinical pipeline continue to support Telix’s growth trajectory. The company’s expanding product portfolio and recent regulatory milestones further strengthen its long-term prospects.

TELIX Pharmaceuticals Limited (ASX: TLX)

On 14 September 2026, announced that it had received FDA approval for Pixclara, a FET-PET imaging drug for glioma (brain cancer). This marks a significant milestone for the company as it becomes the first company to achieve FDA approval for this indication. Approximately 24,000 glioma cases are diagnosed in U.S. every year which highlights a major importance of this product among patients.

Earlier in August, the company also announced its June ending half-yearly results, reporting strong first half growth as the revenue went up by 22% YoY to US$477 million, with a significant upside in EBITDA of 146% from US$21 million in H1 2025 to US$52 million in H1 2026, reflecting strong management operations. Net profit turned positive from negative US$2 million to US$41 million in H1 2026. R&D expenses accounted for 26% of the total revenue as the company’s main focus remains on development of its various products. TLX also entered into strategic collaboration with Regeneron to jointly develop and commercialize next generation radiopharmaceutical therapies.

Segment Performance:

Precision Medicine segment revenue increased by 27% YoY, primarily driven by its two products- Illuccix and Gozellix, as they both delivered strong growth volumes and market share gains. The segment reported EBITDA growth of 26% to US$132 million, while its R&D investments went up by 42%, which was mainly driven by its products - Pixclara, Zircaix and BiPASS, which are about to deliver near-term growth. Pixlumi’s Marketing Authorization Application (MAA) in Europe is also validated and accepted for review

The company’s manufacturing solutions segment reported revenue of US$146 million, including US$89 million from third-party product sales and service fees and US$58 million internal revenue, primarily driven by RLS Radiopharmacies network. It also reported an EBITDA loss of US$23 million due to an increased investment in supply chain and logistics functions to meet the future infrastructure needs for therapeutics.

Product Development:

• TLX-591-Tx: FDA has given confirmation for progression to Part 2 after the ProstACT Global trial met its safety and dosimetry objectives in Part 1.
• TLX-101-Tx: Pivotal trial of IPAX-BriGHT has been done. The Phase 1 has been done on the patient in Phase 1 and has been enrolled to IPAX-2 Phase 1 to study newly diagnosed glioblastoma.
• TLX-250-Tx: First patient has been dosed with advanced ccRCC

While TLX-09-Tx, which includes SOLACE and BiPASS, are both also in the late stage of clinical programs.

Outlook and Conclusion:

The company expects its revenue for FY26 to be in the range of US$950-970 million, and the company also reaffirms the R&D expenditure guidance of US$230-270 million, reflecting continuous investment in product pipeline expansion, including TLX 597-TX, and also a collaboration with Regeneron providing $40 million as initial payment. The company is also focusing on expanding its manufacturing unit to meet the upcoming demands. TLX has a market capitalisation of around $5.73 billion and seems to be well-positioned for long-term growth, backed by a diversified product pipeline and continued strong operations.

(Source: Company Announcements)