Telix Pharmaceuticals has reaffirmed that it will pass US$1 billion in revenue and other income this year. Its third-quarter sales were consistent with the previous quarter, and it is working through a US$1.65 billion merger.
Group revenue for the three months to 30 September was US$245 million. That is up 19 per cent on a year earlier but down 1 per cent on the June quarter.
The prostate cancer imaging agents Illuccix and Gozellix again drove the result. Precision Medicine revenue rose 30 per cent year on year to US$201 million. Third-party manufacturing revenue fell 6 per cent to US$44 million.
Managing director and group CEO Dr Christian Behrenbruch attributed the outcome to the northern summer. "Demand for both Gozellix and Illuccix remained strong during the quarter, with US dose volumes increasing 1 per cent quarter-over-quarter, in line with our expectations and reflecting expected summer seasonality," he said.
"We are pleased by the strong September exit run rate, supporting our confidence in delivering over 25 per cent Precision Medicine revenue growth in 2026."
In September, the US Food and Drug Administration approved Pixclara for glioma imaging, the first agent approved for that use in the US. The company gave the first commercial doses that same month.
"We achieved an important milestone with the FDA approval of Pixclara, expanding our commercial portfolio, establishing a presence in neuro-oncology and further diversifying our revenue base," Dr Behrenbruch said.
Telix's kidney cancer imaging agent Zircaix is still not approved. The company is finalising its FDA resubmission to deal with outstanding third-party manufacturing issues.
The planned deal with Isotope Technologies Munich (ITM) adds ITM-11, a late-stage candidate for neuroendocrine tumours. It also adds what Telix calls the only globally scaled commercial-grade lutetium-177 production platform.
Telix will pay US$1.65 billion upfront, with about US$1.25 billion in shares. Telix could pay a further US$700 million if ITM-11 hits its milestones. Shareholders are expected to vote on 1 December.
"This is aligned with our long-term growth strategy reinforcing our ability to reliably serve patients at scale," Dr Behrenbruch said.
BiPASS, a Phase 3 trial using PSMA-PET and MRI to detect prostate cancer before biopsy, finished enrolling 350 patients. The FDA granted it Fast Track Designation. The glioblastoma therapy TLX101-Tx met its Phase 1 primary endpoint and will move to Phase 2.
Telix said it expects revenue at the upper end of its US$950–970 million guidance, plus US$40 million in other income. It has narrowed its R&D spending forecast to US$240–260 million.
