Telix Pharmaceuticals Ltd (ASX: TLX) shares are catching the eye on Wednesday morning.
At the time of writing, the ASX 200 biotech company's shares are up 15% to $28.95.
Telix shares rocket on Q1 update
Investors have been buying the company's shares this morning following the release of its first quarter update.
According to the release, Telix had another strong quarter and delivered further impressive sales growth over the prior corresponding period.
For the three months ended 31 March, the company reported unaudited revenue of approximately US$186 million. This represents an increase of 62% over the prior year corresponding quarter and a quarter over quarter increase of 31%.
This comprises $151 million from global sales of Illuccix, up 35% over the prior year corresponding quarter and 9% quarter-over-quarter, as well as US$33 million from RLS Radiopharmacies (RLS) since the acquisition completed on 27 January 2025.
Commenting on the quarter, the ASX 200 biotech stock's managing director and CEO, Dr. Christian Behrenbruch, stated:
Illuccix has continued its momentum, gaining market share and maintaining price stability in a competitive landscape. Telix is the only company with two FDA-approved PSMA-PET5 imaging agents – Illuccix and Gozellix – enabling us to broaden patient reach and maximize choice for our customers.
The expansion of our commercial portfolio and launches of Illuccix into new international markets provides a foundation to diversify and grow revenue globally, while we continue to deliver on multiple catalysts in our pipeline. This quarter also includes the first two months of revenue from RLS since completion of our acquisition, highlighting its potential as a platform to drive further growth. This strategic acquisition has significantly expanded our manufacturing footprint in the U.S., which we believe is an increasingly important consideration amid changing global trade dynamics.
Guidance
It light of its strong performance in the first half, Telix has reaffirmed its guidance for FY 2025.
It is targeting revenue of US$770 million to US$800 million. This reflects revenue from Illuccix sales in jurisdictions with a marketing authorisation and an 11-month contribution from RLS.
Though, this revenue guidance is expected to be updated following and subject to reimbursement for Gozellix in the United States (U.S.) and Illuccix in ex-U.S. markets.
The company also confirmed its research and development (R&D) expenditure guidance. It is expecting a year-over-year increased investment range for FY 2025 of 20% to 25% compared to FY 2024.
Telix shares are now up 100% over the past 12 months.
