Ann: Telix 1H 2024 Results Presentation, page-48

So I didn't get to listen to the whole half-yearly presentation properly on Friday, I only tuned in for bits of it. I've now gone back and listened to it properly.

Thoughts/comments:

- looks like several interesting trial results to come in the next six months.
- TLX007 will bring "meaningful additional clinical benefits to patients." Looking forward to learning what this means.
- the slide said "BLA resubmission in Q4" for Zircaix: CB said "in the next few weeks." CB specifically said that they are looking at indication expansion already using the money from the raise.
- Pixclara to be submitted "any day now" hooray, it has been a while coming but as I've said before I'll forgive a longer lead in if the approval happens quicker. And the EAP is open, so that's very good news. I would guess that by EOFY next year both Zircaix and Pixclara will be well and truly approved.
- some interesting comments about how Telix is now able to do so much of the manufacturing process (eg for trials) in-house.
- "Illucix approval in Brazil any day"
- it looks like US sites for Prostact Global should be fairly soon? The IND has been accepted?
- financials: they increased guidance, they improved their margins, what's not to like?
- fascinating to hear how they plan to grow and transform the company in the next few years; in a way, everything they're doing now will only be a quarter of the "new Telix."

Questions session:

- I wonder if the woman from UBS who asked questions is the one who wrote that dismissive note about CU6? She always asks interesting wish-I'd-thought-of-that questions.
- "The majority of Pluvicto patients are chosen with an Illucix scan."
- I thought CB was a bit coy on the whole question of Prostact trial enrollment and the intermediate trial data. I couldn't help note the difference between "we don't give trial details" and "the IPAX trial is 50% enrolled." I feel they kind of batted away this one a bit. Nonetheless they still managed to push a positive vibe on this, particularly on the whole vs Pluvicto issue.
- In response to questions, they explicitly said some of the things that had been surmised for a long time: that the TAM for Zircaix may well expand (and they're working explicitly on that) and that Zircaix could even overtake Illucix. Also good to hear that the EU submission will be happening sooner rather than later.
- Also interesting to hear that the Pixclara market could well expand.
- Somewhere in there was a brief throwaway that could be interpreted as what some had suspected: they've got their eyes on an acquisition.

So all in all an interesting update, and I come back to the point: there may well be some news that comes in that will be beneficial to the company but the big one will be Zircaix approval, it'll be that which could take the share price from $20 to $40. And then Pixclara will take it to $50. After that, therapy will need to lead....