Telix Pharmaceuticals Ltd (ASX: TLX) shares are on the move on Tuesday morning.
At the time of writing, the radiopharmaceuticals company's shares are up 8.5% to $14.05.
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Why are Telix shares rising today?
Investors have been buying Telix shares following the release of a quarterly update highlighting strong revenue growth and progress across its therapeutics pipeline.
According to the release, Telix reported unaudited group revenue of US$230 million for the first quarter of FY 2026, representing a 24% increase on the prior corresponding period and an 11% lift on the previous quarter.
Its Precision Medicine division was a key driver, delivering US$186 million in revenue, up 23% year on year and 16% quarter on quarter. This was supported by strong demand for its imaging products Illuccix and Gozellix.
Guidance reaffirmed
In addition to the strong quarterly performance, Telix has reaffirmed its full year revenue guidance.
The company continues to expect FY 2026 revenue in the range of US$950 million to US$970 million, reflecting confidence in ongoing growth across its commercial operations.
Management highlighted that this outlook is underpinned by continued expansion of its global footprint and increasing adoption of its products.
Pipeline progress continues
Telix also provided an update on its therapeutics pipeline, highlighting progress across multiple late-stage programs.
Notably, its TLX591-Tx prostate cancer therapy candidate met safety and dosimetry objectives in a Phase 3 study, with no new safety signals observed.
The company also continues to advance other clinical programs, including trials targeting kidney cancer and glioblastoma, as well as expanding patient recruitment across multiple regions.
In addition, Telix is progressing regulatory submissions, including the resubmission of its New Drug Application to the US Food and Drug Administration for its brain cancer imaging candidate TLX101-Px.
Management commentary
Telix's managing director and CEO, Dr Christian Behrenbruch, was pleased with the quarter and appears positive on its outlook. He said:
Growth accelerated across our Precision Medicine business in the first quarter, with U.S. dose volumes increasing 5% quarter-over-quarter. This performance reflects the growing uptake of Gozellix alongside Illuccix, contributing to market share gains underpinned by disciplined sales execution and pricing, and high-quality service delivery despite extreme North American weather conditions, an advantage of the pharmacy distribution model.
With our two-product PSMA imaging strategy, differentiated clinical positioning and expanding commercial presence globally, we are seeing a solid foundation for continued growth through 2026. Importantly, we are delivering on our strategic priorities to advance our high-value clinical programs, demonstrated by the momentum in our therapeutics pipeline this quarter.
