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Telix Enters Attractive Market With Late-Stage Brain Cancer Drug Trial in US, Jefferies Says

-- Telix (ASX:TLX) entered a potentially attractive market after the commencement of phase three trial for recurrent glioblastoma, a type of brain cancer, in the US, Jefferies said in a note on Wednesday.

The investment firm said that with around 20,000 patients diagnosed annually in the US with recurrent glioblastoma and limited treatment options, the market appears promising for its drug candidate TLX101-Tx.

Jefferies, however, gave a risk-weighted valuation to the experimental drug in Telix's overall valuation.

The brokerage boosted Telix's fiscal year 2026 net profit after tax estimate to $5.1 million from $3.3 million, driven by the inclusion of TLX101-Tx in its valuation, with first sales expected in fiscal year 2029, refinancing of $600 million in convertible bonds, and changes to assumptions for expenses and costs.

Jefferies kept a buy rating on Telix and raised its price target to AU$27.40 from AU$24.30.

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