While I understand the argument that TLX is undervalued, it's...

While I understand the argument that TLX is undervalued, it's interesting to compare it to that other NASDAQ listed (now mainly) radiopharma company- Lantheus.

Lantheus is sitting at about US4.2b or ~AUS6b market cap- roughly double TLX. Superficially looking at the financials of both, I don't think TLX can complain.

The key word there is "superficially." To me it looks like TLX has a much richer pipeline, in particular 250 likely coming to market within the year.

On the one hand, I'd say if a NASDAQ listing leads to superior price discovery, then great. But will it? Or will analysts over there be just like here: focused on bottom line free cash flow more than anything else? Also, if all you have to do is wait for a bit longer for your higher revenue stream to kick in, then likely the market will work itself out.

One thing I speculate is that the US market may be less obsessed about dividends than the AUS market, and CB may have more that American philosophy of keep the cash/ grow the company (and hopefully the share price that way) over posting dividends, and that may be a contributing factor.

Also, one of the things I really like about TLX is the shift to a self-funding model, and I'd have to be convinced that we needed to move away from that. After all, the company has been saying it's making enough money to cover trials. On the other hand, CSL- the company we all dream TLX could be- had a cap raise for an acquisition not so long ago. So who knows?