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Market Mover | TLX shares up 9%, released strong quarterly update

moomoo News ·  Apr 17 23:18  · Movers

April 18, 2024 - $Telix Pharmaceuticals Ltd (TLX.AU)$ shares jumped by 9.73% to reach A$13.760 on Thursday.

Financial performance

Yesterday, Telix Pharmaceuticals Limited reported strong financial and operational performance for the first quarter of 2024. The company disclosed unaudited total revenue of A$175 million, marking an 18% increase compared to the previous quarter. This revenue was predominantly generated from sales of Telix's prostate cancer imaging product, Illuccix.

Recent acquisitions

Recently, Telix Pharmaceuticals Ltd has completed the acquisitions of ARTMS and Isotherapeutics. The Managing Director and Group CEO of Telix, Dr Christian Benrenbruch commented: "The recently closed acquisitions of ARTMS, Inc. (ARTMS) and lsoTherapeutics Group, LLC(lsoTherapeutics) enhance the vertical integration of our business and differentiate Telix as a leadincindependent radiopharmaceutical company worldwide by adding manufacturing capabilities andfacilities, and isotope production technologies to the Telix Group of companies."

Full year 2024 outlook and guidance

Telix Pharmaceuticals reconfirms its February 22, 2024, guidance, projecting full-year 2024 revenue between A$675 million to A$705 million, indicating a 35-40% rise from 2023 levels.

The company also maintains its forecast of a 40-50% increase in R&D investment for 2024 compared to 2023, with both external and internal costs funded by operating cash flow and aligned with revenue growth.

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