Telix Pharmaceuticals stock gains 1.19 percent as ITM deal expands scale

Telix Pharmaceuticals stock (ISIN AU000000TLX2) was last at AUD 16.09 on the ASX on September 28, 2026, up 1.19 percent from the prior close. The move came as investors assessed Telix's planned acquisition of ITM and its expanding radiopharmaceutical platform.

ITM deal adds scale

According to Telix Pharmaceuticals on September 21, 2026, Telix agreed to acquire ITM Isotope Technologies Munich SE for USD 1.65 billion upfront. The transaction also includes up to USD 700 million in contingent consideration tied to regulatory approvals and sales milestones for ITM-11.

The agreement would add ITM's commercial-scale radioisotope manufacturing business and the late-stage ITM-11 therapeutic candidate to Telix's portfolio. The deal remains subject to Telix shareholder approval, regulatory approvals and other customary closing conditions, with completion targeted by the end of fiscal year 2026.

Revenue rises 22 percent

Telix's first-half 2026 revenue rose 22 percent year over year to AUD 477 million, while net profit after tax reached AUD 38 million and EBITDA increased 146 percent to AUD 52 million, according to Investing.com in its September 16, 2026 report. The company maintained its full-year revenue guidance, linking the growth to demand for Illuccix and Gozellix.

That operating comparison gives the ITM transaction a clear financial context: Telix is entering the deal after a period of double-digit revenue growth and sharply higher EBITDA. The acquisition is designed to deepen supply-chain control while expanding the therapeutic pipeline, but the upfront consideration makes execution and approval milestones central to the investment case.

Pixclara broadens the pipeline

Telix Pharmaceuticals said on September 14, 2026, that the FDA approved Pixclara for PET imaging of gliomas in adults and pediatric patients. The approval gives Telix another commercial imaging product while BiPASS enrollment has also been completed in a Phase 3 prostate cancer imaging study, according to the company's September 2, 2026 announcement.

Analyst support remains part of the market backdrop. Investing.com reported on September 16, 2026 that H.C. Wainwright reiterated a Buy rating and maintained a USD 20.00 price target after the Pixclara approval.

Stock remains below yearly high

Telix's ASX share price was AUD 16.09 on September 28, 2026 at 4:12 p.m. AEST, with volume of 1,756,291 shares. The AUD 5.5 billion market capitalization and the AUD 8.26 to AUD 18.22 52-week range frame the stock's current valuation as the company combines commercial growth with a sizeable transaction.

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