Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com - H.C. Wainwright initiated coverage on Telix Pharmaceuticals Ltd (NASDAQ:TLX) with a Buy rating and a price target of $23.00 on Thursday. The target represents significant upside from the current stock price of $16.50, with analyst consensus targets ranging from $22.18 to $23.76.
The research firm highlighted Telix as "the most diversified, comprehensively positioned, and standalone publicly-traded radiopharmaceuticals company in the world today," citing its commercial-stage portfolio of targeted radiotherapy agents addressing unmet needs in oncology. The company, currently valued at $5.5 billion, has demonstrated impressive revenue growth of 56% in the last twelve months. InvestingPro analysis reveals 14 additional key insights about Telix’s market position and growth potential.
Telix’s pipeline includes FDA-approved PSMA-imaging agents Illuccix and Gozellix, along with TLX591, a 177Lu-armed rADC currently in a global Phase 3 trial for metastatic castration-resistant prostate cancer (mCRPC). According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall score and sufficient liquid assets to cover short-term obligations.
The company is also advancing TLX250, a CAIX-targeted imaging agent in Phase 3 studies for clear cell renal cell carcinoma (ccRCC) detection, and plans to submit Investigational New Drug applications for pivotal trials of TLX101 and its kidney cancer therapy candidate in 2025.
Additional assets in Telix’s portfolio include the Phase 1 ZOLAR7 trial of TLX300-CDx for metastatic soft tissue sarcoma using an antibody licensed from Eli Lilly (NYSE:LLY) & Co., ImaginAb’s pipeline and research facility, and proprietary technology for producing lead-212, an alpha-emitting therapeutic radioisotope.
In other recent news, Telix Pharmaceuticals Limited has announced the appointment of Dr. Paul Schaffer as the new Chief Technology Officer. Dr. Schaffer, who previously served as CTO at ARTMS Inc., brings a wealth of experience from his tenure at Canada’s TRIUMF particle accelerator research center. This strategic appointment is aimed at enhancing Telix’s radiopharmaceutical research and development efforts. Dr. Schaffer’s expertise spans chemistry, physics, artificial intelligence, dosimetry, and data analytics, which will be crucial as the company continues its innovation in patient care. The company’s Managing Director and Group CEO, Dr. Christian Behrenbruch, highlighted Dr. Schaffer’s contributions to life sciences technology and isotope production. This move aligns with Telix’s ongoing commitment to advancing therapeutic and diagnostic radiopharmaceuticals for oncology and rare diseases. The appointment reflects Telix’s dedication to innovation in the radiopharmaceutical sector.
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