Telix Pharmaceuticals posts $247M in Q2 revenue, raises R&D outlook

Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX) reported second-quarter 2026 group revenue of $247 million, up 21% from $204 million in Q2 2025 and up 7% from $230 million in Q1 2026, according to a company statement.

The company's Precision Medicine segment generated $202 million in Q2 revenue, a 30% increase year-over-year and 9% rise quarter-over-quarter. Telix Manufacturing Solutions posted $45 million in revenue, down 6% from the prior-year period.

Telix said full-year 2026 revenue is tracking toward the upper end of its guidance range of $950 million to $970 million. Including a $40 million non-refundable payment received from Regeneron under a strategic collaboration agreement, the company expects total revenue and other income to exceed $1 billion for the year.

The company updated its full-year R&D expenditure guidance to $230 million to $270 million, up from a prior forecast, citing the Regeneron payment and its commercial performance as enabling factors. The additional spending is intended to support programs including TLX597-Tx and label expansion for Pixclara.

On the clinical side, the FDA confirmed that safety data from Part 1 of the ProstACT Global Phase 3 trial of TLX591-Tx in metastatic castration-resistant prostate cancer is sufficient to advance Part 2 in the U.S., pending review of an Investigational New Drug amendment. The FDA also set a September 11, 2026 review deadline for Telix's resubmitted new drug application for Pixclara, a brain cancer imaging agent.

Telix completed a refinancing during the quarter, issuing $600 million in new convertible bonds due 2031 and retiring all outstanding 2029 convertible bonds. The company also appointed three new non-executive directors — David Gill, Maria Rivas, and William Jellison — effective May 11, 2026.

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