Telix has joined hands with Seibersdorf Laboratories for Glioblastoma program

  • Oct 16, 2018 AEDT
  • Team Kalkine
Telix has joined hands with Seibersdorf Laboratories for Glioblastoma program

Telix Pharmaceuticals Limited (ASX:TLX) (“Telix”, the “Company”), is a clinical-stage biopharmaceutical company focusing on the development of therapeutic and diagnostic products which are based on targeted radiopharmaceuticals also know by name “molecularly-targeted radiation” (MTR). The company has made an announcement regarding its entry into a commercial manufacturing agreement with Seibersdorf Labor GmbH (“Seibersdorf”) today. For the past one year the company along with Seibersdorf has been working closely with regards to the technology transfer and research agreement. In order to manufacture 131I-IPA (TLX101), both the companies have implemented and validated the use of an automated production system. The Company’s therapeutic drug candidate TLX101 is used for the treatment of an aggressive form of brain cancer known as glioblastoma. Due to the Optimization of the manufacturing process, it has resulted into feasible radiochemical yields commercially and also the product shelf-life has exceeded 100 hours. This method is suitable for both centralized manufacturing and global distribution of product that can be used for both trials and compassionate use of the medicine. The EU President of Telex Mr. Odile Jaume expresses his pleasure working with the Telex technical team in order to develop a manufacturing platform for Telix’s glioblastoma therapeutics program. Dr Roland Müller who is the head of the Radiopharmaceuticals Business Unit at Seibersdorf expresses his happiness to work with Telix in order to deliver drug, both for clinical trials and the commercial use and considers this is an exciting opportunity for the organization. 

For the half year period ended 30 June 2018, the company has made a net loss of A$5,190,007 which includes the research and development cost, administration and corporate cost, employment and the finance cost. These were the key components which resulted in the net loss. The company has total assets worth A$ 48,510,807 and total liabilities of A$4,119,909 showing the company’s capabilities to meet the long-term liabilities. The current assets of the company amount to A$46,898,731 and the total current liabilities of the company are of the order of A$3,777,450 showing company’s potential to meet short term obligations as well. The total shareholders equity is worth A$44,390,898. The net cash used in the operating activities was noted while major cash outflow was due to payments made to the suppliers and the employees. The company has made investments in term deposits and also added intangible assets which resulted in the net cash outflow in investing activities worth A$15,742,296. At the end of the period, the cash and cash equivalents of the company is A$26,374,835. The net decrease in the existing cash of the company is worth A$22,958,279.

The company has shown a positive YTD performance of 13.85% and the 6 months performance is 17.46%. The market price of the share is A$0.785 (up 6% on October 16, 2018) with market capitalization of A$157.08 million. As per the chart we see that the moving average converge and divergence line (MACD line) otherwise trending below the signal line has started moving in the upward direction.

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