Telix shares surge on positive prostate cancer trial results
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The news: Telix Pharmaceuticals shares have soared on positive trial data for its prostate cancer therapy TLX591.
The numbers: After the announcement to the ASX, Telix shares surged 10.45% to a record high in early trading to $17.38 and over the last 12 months has soared 48.55%.
The trial included 242 patients over Phase I and II, with the latest study reporting a median 8.8 months of radiographic progression-free survival (rPFS), a metric for clinical improvement in patients.
The context: The trial looked to treat metastatic castrate-resistant prostate cancer (mCRPC) in adult populations through radio-antibody-drug conjugate (rADC) therapy.
Telix said the results built on past indications that rADC therapy was a preferred candidate to small-molecule radiological pharmaceuticals for therapies that improved quality of life and controlled tumour growth for mCRPC patients.
Telix will use the data to move forward with Phase III trials to address outstanding unmet therapeutic needs in prostate cancer patients globally.
The trial results follow Telix’s recent New Drug Application (NDA) with the US Food and Drug Administration (FDA) for a prostate cancer imaging kit intended to provide better scans to the 3.4 million American prostate cancer patients.
The source: ASX announcement
