bullish
Telix Pharmaceuticals (TLX AU): Strong 1H23 Result; Revenue Jumps 9x; 80% Reduction in Net Loss
Tina has highlighted this Insight as a Top Pick
444 Views26 Aug 2023 17:45
SUMMARY
- Telix Pharmaceuticals (TLX AU) reported 1H23 revenue of A$221M, a nine-fold increase on 1H22, reflecting continued growth in sales of its prostate cancer imaging agent, Illuccix.
- Gross margin improved to 64% in 1H23 from 56% in 1H22. Telix has transitioned to positive earnings on an adjusted EBITDAR basis. Net loss decreased 80% YoY to A$14M.
- With the increasing adoption in global PSMA PET imaging market, Illuccix has positive outlook. Telix is expected to launch two new products in 2024 for brain and kidney cancer imaging.
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Tina Banerjee
Global Healthcare Analyst
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