Sydney, Feb 20, 2026, 17:48 AEDT — The market shut its doors for the day.
- Telix jumped 14.2% as investors reacted to its full-year numbers and the company’s revenue outlook for 2026.
- Telix’s revenue shot up 56% in 2025, hitting US$803.8 million. Looking ahead, the company projects group revenue in 2026 will land somewhere between US$950 million and US$970 million.
- Earlier this week, Telix took steps toward European approval for its brain cancer imaging product candidate.
Telix Pharmaceuticals Limited surged 14.2% Friday, wrapping up at A$10.43 after swinging between A$9.49 and A$10.78, according to Google Finance. Even with that pop, shares remain far from the 52-week peak of A$31.97. (Google)
Notably, Telix has seen its share price struggle over the past year, and the start to 2026 didn’t offer much relief. Now, with investors watching closely, the company is trying to reset expectations around its imaging business—specifically, whether it can keep funding a broader push in development.
The ASX remains shut through the weekend, so traders will have to wait until Monday for action to resume. With that, focus turns to the U.S.-listed line as Wall Street opens up later on Friday.
Telix’s 2025 revenue surged 56% to US$803.8 million, with year-end cash standing at US$141.9 million. Looking to 2026, the company is guiding for revenue in the US$950 million to US$970 million range, as research-and-development spending is expected to land somewhere between US$200 million and US$240 million. Adjusted EBITDA totaled US$39.5 million. Pre-tax loss hit US$5.3 million, which management pointed to as being driven partly by non-cash charges from convertible bonds and the RLS deal. CEO Dr Christian Behrenbruch called the 2025 performance “foundational” for what’s next. (GlobeNewswire)
Here’s that familiar friction again. Telix is pouring more into development, while investors want proof the cash engine keeps humming.
Earlier this week, Telix said it has filed for marketing authorization in Europe for TLX101-Px, its PET imaging agent aimed at glioma (brain cancer). In effect, that’s the company seeking approval to start selling the product in Europe. Next up, according to Telix, is a U.S. New Drug Application. CEO Kevin Richardson described the European submission as an “important milestone.” Philipp Lohmann, a neuroimaging researcher, added that this technology “plays a critical role” in steering treatment, particularly when MRI scans don’t give clear answers. (Telix Pharmaceuticals)
Still, risks are hard to miss. Telix finds itself squeezed by regulatory timelines and the nuts and bolts of manufacturing. Should R&D expenses jump or revenue growth sputter—or if approvals slip—profitability could take a hit.
