Telix Pharmaceuticals (TLX) Oppenheimer 36th Annual Healthcare Life Sciences Conference summary

Business overview and strategy

• Operates a dual-listed, vertically integrated business with nearly $1B in annual revenue, primarily from precision medicine imaging across 26 countries.

• Invests about $300M annually in a self-funded R&D pipeline focused on therapeutic oncology and infrastructure.

• Manufactures most products in-house and runs its own nuclear pharmacy network, especially in the U.S.

• Pursues a multi-product strategy in urology, aiming for a one-stop-shop relationship with urologists and expanding into renal and bladder imaging.

• Sees significant inbound investor interest and aims for long-term leadership in prostate and urologic imaging.

Precision medicine and diagnostics

• Precision medicine imaging business generated about $600M last year, led by Illuccix and Gozellix for prostate cancer.

• Illuccix, launched in 2021, targets PSMA and competes with Lantheus; Gozellix offers longer shelf life and broader distribution, with three years of reimbursement runway.

• Dual reimbursement tracks allow for competitive pricing and market segmentation.

• BiPASS trial for PSMA PET imaging is halfway through recruitment, aiming to double the U.S. scan market by adding up to 800,000 scans annually.

• PET scan capacity is expanding, with new installations and technology improvements to meet rising demand.

Product pipeline and regulatory updates

• Zircaix for renal cell imaging has filed a BLA; Pixclara resubmission is imminent, with harmonized EU/US submissions.

• Two CRLs received last year for glio and renal products; collaborative FDA engagement is ongoing, with Zircaix launch expected this year.

• Imaging and therapy programs are closely linked, using imaging data to validate therapeutic targets.