ASX pharma group Telix Pharmaceuticals Ltd (ASX: TLX) is one company worth watching this morning.
The Telix share price could climb higher after receiving a research grant from Cancer Australia yesterday.
What did Telix announce yesterday?
Telix collaborator Professor Frédéric Hollande and associated partners have been awarded a Cancer Australia research grant.
The ASX pharma group will continue to work with Professor Hollande, Victorian Comprehensive Cancer Centre and colleagues. The researchers are working with Telix's proprietary monoclonal antibody agent (TLX250), known as Girentuximab.
Girentuximab targets tumour-related antigen carbonic anhyrase IX (CAIX) that is expressed in several cancers, including kidney and collorectal cancer.
The grant application is a positive step forward for the group as Professor Hollande and other groups continue their cancer research.
Telix is an ASX pharma company focused on molecularly targeted radiation (MTR) and headquartered in Melbourne.
How have the ASX pharma group's shares performed this year?
The Telix share price has been rocketing higher this year despite falling 1.96% lower yesterday.
The ASX pharma group is up 130.77% this year and its shares are currently trading at $1.50.
Telix has continued to expand its operations since listing on the ASX in November 2017 and now boasts a market capitalisation of $379.92 million, which puts it in the small-cap category on the ASX.
The ASX pharma group's shares rocketed higher in June after presenting at a Macquarie Group Ltd (ASX: MQG) conference on its potential multi-billion-dollar opportunity.
Telix inked a deal with AusHealth back in October to work together on a novel MTR platform called APOMAB.
Both entities will invest $300,000 to fund the clinical proof of concept after which Telix will pay AusHealth $30 million in future milestone and royalty payments.
Should you buy Telix Pharmaceuticals shares?
While Telix shares are likely to receive a boost from yesterday's announcement, there are still some question marks.
The ASX pharma group hasn't seen its earnings reach maturity yet given its heavy involvement in R&D spending right now.
