Following a year thick with acquisitions across the radiopharmaceutical supply chain, Telix Pharmaceuticals has announced a 55% year-on-year revenue increase in 2024.
CEO Christian Behrenbruch described the Australian company’s success in a presentation at the 2025 JP Morgan Healthcare Conference on 15 January in San Francisco. After a flurry of acquisitions, Behrenbruch announced Telix superseded its 2024 revenue guidance, generating $517m as its stock continues to rise.
In 2025, Behrenbruch said Telix expects to launch three new products to the US market pending US Food and Drug Administration (FDA) approval. These include Gozellix (TLX007-CDx) for PSMA imaging of prostate cancer and Pixclara (TLX101-CDx) for glioblastoma imaging with Prescription Drug User Fee Act (PDUFA) dates set for 24 March and 26 April, respectively, as well as Zircaix (TLX250-CDx) for kidney cancer imaging for which a PDUFA date is expected around August to September.
Nonetheless, the past year was not full of successes for Telix. In January, the company announced plans for a US initial public offering (IPO), but in June it withdrew its bid, with executives blaming market conditions at the time.
Still, at the same time, the company went on an acquisition spree, starting with Canadian isotope producer ARTMS in March for $575m, IsoTherapeutics in April for $8.1m plus milestone payments, and QSAM Biosciences in May for 123.1m, and also purchased RLS Radiopharmacies in September for $230m. With these acquisitions, Telix has built a network of isotope production and distribution facilities across the US and R&D operations in US and Canada.
Telix also plans to expand the approval of its lead product Illuccix (TLX591-CDx) for prostate cancer imaging into the EU, UK, and Brazil, with Phase III bridging studies completed in China and underway in Japan. Approved by the FDA in December 2021, Illuccix generated $357.9m in H1 2024 global sales as per a Telix report, accounting for the majority of the company’s revenue.
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Behrenbruch stated Telix will continue to maintain focus on beta-emitting assets like Illuccix in its pipeline, but that the company is also investing in several alpha-emitters as part of its next-generation isotope platform. Telix’s most advanced clinical asset is TLX591 (Lu-177 rosopatamab tetraxetan), a beta-emitting antibody conjugate being studied in the Phase III ProSTACT GLOBAL trial (NCT04876651) to treat castration-resistant prostate cancer. Interim data from part 1 of the trial is expected in late H1 2025, according to Behrenbruch.
Alongside TLX591, Behrenbruch said Telix expects initiate pivotal trials for Zircaix in clear cell renal carcinoma and Pixclara in recurring glioblastoma in 2025.
