Telix Pharmaceuticals Delivers 56% Revenue Growth and Advances Global Radiopharmaceutical Pipeline

Telix Pharmaceuticals Limited is a global biopharmaceutical company developing and commercializing diagnostic radiopharmaceuticals and targeted therapeutic along with supporting medical technologies.

Telix Pharmaceuticals Limited (ASX: TLX)

Telix Pharmaceuticals Limited (ASX: TLX) has announced on 21 May 2026 that it has entered into a collaboration to develop and commercialise next generation radiopharmaceutical therapies including targeted alpha therapies where it received an upfront cash payment of US$40 million. The company now has the option to either co fund the program and share profits on commercialization or earn upto US$2.1 billion in development and commercial milestone payments.

The collaboration combines Regeneron’s deep expertise in biologics with Telix’s radiopharmaceutical development platform and global manufacturing and supply chain infrastructure. It covers multiple solid tumour targets from Regeneron’s portfolio of proprietary that are clinically validated antibodies.

On 15 April 2026, Telix Pharmaceuticals announced pricing of a US$600 million issue of 1.50% senior unsecured convertible notes which will be due in 2031. The notes were issued by Telix Pharmaceuticals (Investments) Inc which is its wholly owned subsidiary and these convertible notes can be converted into fully paid ordinary shares.

The company also reported strong top line growth, improved underlying profit and solid cash generation. Group revenue increased by 56% year on year to $804 million which is in line with upgraded guidance.

Precision Medicine revenue rose by 22% to US$622 million while RLS Radiopharmacies contributed a diversified revenue stream of US$170 million. Group EBITDA stood at US$40 million with a positive cash balance of US$142 million.

The US BiPASS Phase 3 study for Gozellix has been successfully launched and has now started recruiting. This is expected to support strong market expansion for Gozellix and Illuccix. Illuccix is now commercially available in 22 countries. The company is also working on expanding into China (NDA accepted) and Japan (Phase 3 study underway).

Zircaix has completed successful FDA Type A meetings, which helps to align key resubmission requirements. Clinical studies (ZIRCON-X) showed that TLX250-Px imaging can meaningfully support clinical decision making. Pixclara’s regulatory progress is underway, with the MAA filed in Europe and the US FDA NDA accepted. The decision is expected by September 11, 2026. A physician survey also showed strong interest, with around 70% ready to prescribe Pixclara once it is approved.

Outlook:

The company expects revenue to be between US$950M and US$970M, driven by currently approved products and existing markets. Precision Medicine is expected to grow around 25%, and they will also benefit from a full year of contributions from RLS revenue. R&D spending is expected to be in the range of US$200M to US$240M. A larger portion will be spent in strengthening the therapeutics pipeline, The investments depend on clinical trial results and key milestones. Importantly, this R&D spending is expected to be self funded through strong commercial performance.

(Source: Company Announcements)