Posted: 28 January 2022
Telix Pharmaceuticals (TLX) has completed an institutional placement worth $175 million that will be used to help advance its clinical trial and product pipeline.
One of the programs the company said it was looking to progress to commercialisation was its ProstACT or prostate cancer therapy clinical program.
Telix said it also intended funnelling funds to further expand its pipeline and capabilities around Targeted Alpha Therapy.
The company plans to launch a subsequent share purchase plan (SPP) to raise up to a further $25 million at the same offer price as the institutional placement of $7.70 per share, a discount of 4.8 per cent from the closing price on January 19, 2022.
CEO Dr Christian Behrenbruch said the company was delighted with the level of support received for the placement from new and existing investors.
“Funds raised under the placement and SPP will provide the company with the financial resources to execute on the next phase of Telix’s growth strategy, which is to advance our core therapeutic clinical programs, expand our commercial diagnostic portfolio and proactively seek out new innovations that will cement Telix’s position as a leader in the field of ‘theranostic’ radiopharmaceuticals,” he said.
TLX shares were trading 14.3 per cent lower at $6.93 at 12.41 pm AEDT.