Telix Pharmaceuticals upgrades guidance after second quarter lift
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The news: Telix Pharmaceuticals has lifted its full-year revenue guidance on the back of strong second-quarter growth driven by its prostate cancer imaging product Illucix.
The numbers: Telix said total revenue for the three months to 30 June rose to USD124 million ($189 million), an increase of 55% from a year ago.
As a result, full year revenue is now expected to be in the range of USD490 million to USD510 million, up from the previous estimate of USD445 million to USD465 million.
Over the last 12 months Telix's share price has rocketed 69.1% to $20.
The context: Telix CEO Christian Behrenbruch said the company continued to deliver excellent quarterly growth in both revenue and dose volume sales of Illuccix. This was helped by the company's ability to leverage its scheduling flexibility and clinical differentiation to increase market share and minimise the impact of new entrants.
The company also reaffirmed guidance for research and development expenditure, which is expected to increase 40 % to 50% compared with 2023, funded by earnings.
The source: ASX announcement
