Telix Pharmaceuticals (ASX:TLX) reported on its March quarter, with focus placed on its prostate cancer product.
The company held cash reserves of $154.7 million, compared to $22 million the prior quarter thanks to a $175 million placement earlier this year to fund projects. Its net operating outflows during the quarter were $33.6 million, with total operating outflows of $36.7 million.
Telix said the commercial launch in the US of its prostate cancer imaging product, Illuccix® was a major area of focus during the quarter and was available in 117 commercial nuclear pharmacies. Telix confirmed its plans to launch in Australia in the June quarter.
“This has been a pivotal quarter for Telix, as we delivered on several major objectives including the Company transformational event of launching of our first commercial product and completion of target enrolment for a Phase III clinical trial,” said chief executive officer Christian Behrenbruch.
“The recent financing activity – including the $175.0 million placement and $18.2 million project financing package for the buildout of the Company’s European manufacturing site will support Telix’s growth trajectory as a market leader in the field of radiopharmaceuticals.”
Shares in Telix Pharmaceuticals (ASX:TLX) are trading 1.5 per cent lower at $4.53.
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