Telix Pharmaceuticals shares soar on full-year profit growth
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More news: Shares in Telix Pharmaceuticals climbed more than 13% after the biopharmaceutical company reported a tenfold jump in full-year profit.
Telix shares were up 13.4% to $30.01 at 12:10pm AEDT, having surged more than 170% over the last 12 months.
Telix Pharmaceutical profits soar tenfold on prostate cancer drug sales
The news: Telix Pharmaceuticals posted a big jump in profits during the 2024 financial year, as sales of its prostate cancer diagnostic agent Illuccix drove revenues 56% higher.
The numbers: The biopharmaceutical company posted $49.9 million in profit after tax, ten times its $5.2 million profit last year.
Sales surged to $783.2 million, up from $502.5 million a year earlier, mainly driven by sales of Illuccix, the company said, adding it expects to keep growing market share for the drug.
CEO Christian Behrenbruch said the company expected “significant growth” in 2025 internationally, with multiple product launches planned.
What they said: “2024 has been an extraordinary year for Telix,” said Behrenbruch.
“We generated strong financial growth while investing for the future. The Precision Medicine business is poised for step-change growth with three commercial product launches planned for this year in the US and the European rollout of Illuccix.”
“We have a deep therapeutic pipeline with multiple assets moving into pivotal trials, and we are building out the infrastructure to ensure we can deliver our products to patients around the world.
The source: ASX
