Shares of the ASX-listed Telix Pharmaceuticals Limited (AU:TLX) soared 4% today after the company impressed investors with successful results in FY24. The company’s unaudited revenue surged 55% year-over-year to $517 million (AU$783 million), surpassing projected guidance of $490 million to $510 million. The company attributed its performance to the strong sales of its prostate cancer imaging product, Illuccix.
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Telix Pharmaceuticals is a biotechnology company engaged in the development and commercialization of diagnostic and therapeutic radiopharmaceuticals.
Telix Pharmaceuticals Reports Strong Performance
According to the company’s announcement, Q4 revenue reached approximately $142 million (AU$218 million), reflecting a 46% increase compared to the same quarter last year and a 5% growth from the previous quarter. The company’s chief executive officer, Dr. Christian Behrenbruch, highlighted this as “a great quarter of commercial performance.”
The company will announce its FY24 audited results on February 20.
In 2025, the company is positioned well for more substantial growth. Its key advancements include progress in clinical trials for prostate and kidney cancer treatments, regulatory approvals for imaging products across multiple markets, and strategic partnerships to refine and expand its imaging technology.
Is Telix a Good Buy?
In 2024, TLX stock was among the standout performers on the ASX 200 with a gain of more than 150%. This was mainly driven by its strong pipeline of products, revenue growth, and strategic acquisitions.
Looking ahead, analysts maintain a positive outlook on TLX stock, though its potential for share price growth appears constrained. According to TipRanks consensus, TLX stock has received a Strong Buy rating based on all Buy recommendations from three analysts. The Telix share price target is AU$18.51, which is 26% below the current trading level.
