Telix says result reflects its transition to a sustainable commercial-stage company

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Telix (ASX:TLX) has reported total revenue of $220.8 million for the six months to the end of June 2023, driven by growth in prostate cancer imagined agent Illuccix.

The result represents a nine-fold increase on the corresponding period in 2022.

The company also reported a significant reduction in net loss after tax of $14.3 million. This was down from $70.9 million for the same period last year.

Telix managing director and CEO Dr Christian Behrenbruch said, “Telix has delivered an excellent result across all key financial metrics. The business has demonstrated its ability to commercialise successfully, delivering an impressive $218.3M in total revenue from Illuccix sales in H1 2023, with sustained growth in demand since launch.

"Importantly, Telix has transitioned to positive earnings on an adjusted EBITDAR basis signalling the profitability of our commercial organisation.

“We have a positive outlook for continued growth in commercial sales of Illuccix, based on an expanding global PSMA PET imaging market, and expect to see Telix launch two new products in 2024 for brain and kidney cancer imaging, subject to regulatory approval.

"The business is making great progress across its therapeutic programs and, with a number of exciting clinical milestones ahead, will further demonstrate the value and differentiation of its industry-leading pipeline.”