Telix Pharmaceuticals Limited

Received First Trade Revenue during FY18: Telix Pharmaceuticals Limited’s (ASX: TLX) stock climbed up 1.418 per cent on February 28, 2019 following the release of full-year 2018 results. As per the release, the group is now a revenue-stage company, through the early commercialisation of the illumet^TM product (prostate cancer imaging kit) and delivered first trade revenue of $195,142 in FY18. With the acquisition of Advanced Nuclear Medicine Ingredients SA (ANMI), the company is now able to develop and deliver a global strategy for prostate cancer imaging and expects to conclude commercially significant agreements with key marketing and distribution partners as 2019 progresses. Its net loss increased by circa 116% to $13,829,825 as compared to the previous period. It was majorly impacted by higher operating expenses such as R&D costs, administrative & consulting costs, and Employment costs incurred during the same period.However, the company recorded an R&D tax incentive income of $10,141,969 in 2018 as compared to $403,467 in 2017.No dividend was recommended or paid during the year.



P&L Statement (Source: Company Reports)

In its guidance, the company expects completion of enrolment of the TLX250-CDx trial by the end of Q4 FY2019. It has commenced sites work at Australia, Europe, and the US. It also plans to add sites at Canada and Turkey.It has partnered with GenesisCare in Australia for its Phase 2 portion of the TLX101 therapy program. It also expects to submit a New Drug Application to the US Food and Drug Administration for the prostate imaging product.

Stock Recommendation: TLX’s share price has generated a positive YTD return of 8.46%. is trading below the average of 52 weeks high and low level of ~$0.75. On technical analysis front, TLX share price shows consolidation for some time from now. By considering its huge investments in R&D along with robust pipeline and clear company guidance about better results expectation in the forthcoming years Hence, we maintain our “Hold” recommendation on the stock at the current market price of $0.715.
 

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