its only US$100M, although subject to change
that's pittance to go around USA
as CB stated.
TLX wants the "Nasdaq Currency" the timing is interesting.
as, if it takes 4-6 weeks to wrap up, and i suspect the four weeks more likely ..
then there's a whole suite of Approvals and TLX 591 data all coming out at apparently same time.
Bring it on i say ... i want to see what the USA (really it's the ROW, not just USA) will pay for Telix. I'm thinking its more than the Aussies, and so is CB
AND if TLX can already reach the UBS estimates for full year 2025,
(Operating profit of $28.5M, up from $5.6M operating loss in prior corresponding quarter) on Illuccix USA alone and UBS value @ $19.30 April/May 2024
TLX is going to blow that number away with Illuccix ex USA. Then further approvals, further Therapy data and further products.
FYI, i had noticed Morgan Stanley as an ongoing order or buyer TLX past few weeks/months.
since 1 April 2024, Morgan Stanley is single Biggest net TLX buyer
1.7m net buys
Jefferies, Morgan Stanley, Truist Securities and William Blair will act as jointbook-running managers for the proposed Offering.next biggest JPMorgan 1.2m net buys and
UBS 785 Net buys
Telix Pharmaceuticals (TLX), an Australian developer of radiopharmaceutical products, has filed to raise around $100M through a U.S. initial public offering.
The Australian company didn’t disclose terms in its SEC filing, but indicated in its filing fee schedule that it was seeking to raise around $100M, a number that is likely a placeholder and subject to change. The company hopes to list its shares on Nasdaq under the symbol TLX.
Bookrunners on the deal include Jefferies, Morgan Stanley, Truist Securities and William Blair.
Telix already has a product on the market, a prostate cancer imaging agent called Illuccix. The company’s lead drug candidate, a radio antibody-drug conjugate called TLX591, is in Phase 3 testing for the treatment of prostate cancer.
The company has been profitable. For the quarter ended March 31, Telix reported comprehensive income of A$29M and A$175M in contract revenue.
(20min delay)