Telix shares rise as EU approves prostate cancer treatment Illuccix
Make us a preferred source
Make us a preferred source on Google
More news: Shares in Telix Pharmaceuticals lifted in morning trade after the Melbourne-headquartered biopharmaceutical company received approval to begin selling its prostate cancer diagnostic agent Illuccix in Europe.
Telix shares were up 2.9% to $26.55 by 11:15am AEDT, having advanced around 140% over the last 12 months.
Telix receives EU approval for prostate cancer treatment Illuccix
The news: Telix Pharmaceuticals is a step closer to launching its prostate cancer diagnostic agent Illuccix in Europe, after the treatment received marketing authorisation.
The numbers: Telix said all 18 European Economic Area concerned member states agreed that Illuccix should be approved.
The context: The regulatory process will now transition into an administrative national phase to implement authorisations to facilitate commercial launch in each country, the company said.
Telix shares surged on the ASX on Tuesday after the Melbourne-based group said it expected to exceed its full-year revenue guidance after strong Illuccix sales.
The company's revenue is generated predominantly from Illuccix sales, which is currently available in the US, Australia, New Zealand and Canada.
The UK's regulator is due to make an approval decision on the treatment later this month, with a regulatory decision in Brazil expected "imminently".
What they said: "We are delighted by this positive outcome, setting the stage for a European commercial launch of Illuccix," Telix's precision medicine chief executive Kevin Richardson said.
The source: ASX announcement
