ASX 200 healthcare share Telix Pharmaceuticals Ltd (ASX: TLX) has had a stellar month.
The Telix Pharmaceuticals share price has soared 53% from $7.01 at market close on 3 April to $10.745 at the time of writing. For perspective, the S&P/ASX 200 Health Care Index (ASX: XHJ) has climbed 3% in a month.
Let's take a look at what's been weighing on Telix Pharmaceuticals shares lately.
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What's going on?
Telix is developing therapeutic and diagnostic products for cancer and rare diseases using targeted radiation.
Investors appear to have bought up Telix shares in the last month on the back of multiple positive announcements.
On 1 May, Telix shares lifted on positive results from the company's phase three ZIRCON kidney cancer imaging study of TLX250-CDx in clear cell renal cell carcinoma.
New data confirmed the efficacy of TLX250-CDx in masses of 2cm or smaller. Telix chief medical officer Dr Colin Hayward said:
The excellent sensitivity and specificity for small lesions considerably expands the clinical utility and potentially the commercial opportunity for TLX250-CDx.
On 27 April, Telix announced news of a "powerful" artificial intelligence (AI) acquisition. The company unveiled plans to acquire AI-powered clinical decision support software platform Dedicaid.
Commenting on the news, Telix chief scientist Dr Michael Wheatcroft said:
This acquisition provides Telix with a powerful AI development platform that greatly enhances our ability to rapidly generate new applications from clinical imaging data.
Meanwhile, on 17 April, Telix advised it had demonstrated proof of concept using radio labelled Olaratumab to deliver diagnostic and therapeutic radiation to tumours.
Olaratumab is an antibody licensed by Eli Lilly and Company (Lilly). Telix will now progress to human clinical trials.
Also on this day, the company presented a quarter-one FY23 business update. Total revenue rose 27% on the previous quarter to $100.1 million. Compared to the $3.7 million result in the first quarter of 2022, revenue has risen 2605%.
Telix reported a net operating cash inflow of $2.4 million, up $0.8 million on the prior quarter.
Telix Pharmaceuticals share price snapshot
Telix shares have exploded 153% in the last year and nearly 48% year to date.
This ASX 200 healthcare share has a market cap of about $3.41 billion based on the latest share price.
