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Telix Pharmaceuticals

Telix Pharmaceuticals (TLX AU): Accelerated US Growth in 1Q24; Two More US Launches Likely in 2024

305 Views18 Apr 2024 18:02
SUMMARY
  • Telix Pharmaceuticals (TLX AU) reported 18% QoQ revenue growth in 1Q24. The U.S. revenue growth accelerated to 18% QoQ in 1Q24, compared to 11% in 4Q23 and 13% in 3Q23.
  • Telix reaffirmed guidance and expects 2024 revenue of $445–465M, representing 35–40% YoY increase. The current quarterly U.S. revenue run-rate of Illuccix matches the lower end of the guidance.
  • Telix is on track to launch three products in U.S. this year. Two of them have an estimated initial market opportunity of $600–640M, with upside potential from indication expansions.
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