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Investing.com-- Australian shares of Telix Pharmaceuticals Ltd (ASX:TLX) fell sharply on Wednesday after the company said it was hit with a U.S. Securities and Exchange Commission probe over its prostate cancer treatment.
Telix’s shares slid 10.3% to A$22.530, lagging a 0.7% rise in the ASX 200 index.
Telix said on Tuesday that the SEC had issued it with a subpoena regarding the company’s disclosures of its prostate cancer therapies, stating that it was a “fact-finding request.” More information on the probe was not disclosed, and the company said it was cooperating with the agency.
“We cannot predict when this matter will be resolved or what (if any) action the SEC may take following the conclusion of this investigation,” Telix said in a statement, adding that the company will continue with the clinical development of its prostate cancer treatments.
The company said that the probe does not extend to its commercial and late-stage treatments.
News of the probe largely offset strong second-quarter earnings from the pharma firm, which clocked a 63% jump in revenue. The company also reaffirmed its 2025 revenue guidance of $770 million to $800 million.
Telix’s American Depository Receipts (NASDAQ:TLX) fell 1.3% on Tuesday.