Telix shares soar on new US payment status for imaging agent Gozellix
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The news: Telix Pharmaceuticals was the top performer on the ASX 200 in morning trade after the US Centers for Medicare & Medicaid Services (CMS) granted Transitional Pass-Through (TPT) payment status for the biotech's prostate cancer imaging agent Gozellix.
The numbers: Telix shares were up 8.3% to $16.24 at 11am AEST. However, the stock is down 21.5% over the last 12 months.
The context: Telix said the designation enables separate reimbursement for Gozellix under the Hospital Outpatient Prospective Payment System (HOPPS) from 1 October, and marks a "significant milestone" in the company's US commercial strategy.
Gozellix is already available nationally, with the latest move from the CMS expected to reduce costs for patients and simplify payment for providers.
What they said: "Granting TPT status for Gozellix is a strong endorsement of the clinical value of our next-generation imaging agent," said Telix's chief executive of precision medicine, Kevin Richardson.
The source: ASX
