Telix Pharmaceuticals Limited · ASX:TLX
Telix Pharmaceuticals — FY2023 Earnings Presentation
25 slides from Telix Pharmaceuticals's earnings presentation, Feb 22, 2024
Slide 1: 2023 Full Year Results
2023 Full Year Results Telix Pharmaceuticals (ASX:TLX) 22 February 2024
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is not intended to be an offer for subscription, invitation or recommendation with respect to shares of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. No representation or warranty, express or implied,
Slide 3: Presenters and Agenda
Presenters Agenda 01 Operational and financial highlights Christian Behrenbruch Darren Smith 02 Financial results and commentary Managing Director and Group Chief Financial Officer Group Chief Executive Officer 03 Clinical programs 04 Imaging and technology portfolio David Cade Group Chief Medical O
Slide 4: Operational highlights
Operational highlights Driving towards our next phase of value creation Commercial Differentiated pipeline Revenue growth of 214%, demonstrates strong diagnostic of first-in-class demand for Illuccix® and success of Telix’s portfolio therapies commercial operations Phase III ProstACT GLOBAL trial fo
Slide 5: 2023 Key financial metrics
2023 Key financial metrics Strong revenue growth and operating cash flow funding development of late-stage pipeline Gross margin Profit after tax Revenue growth 214% improved 63% $5.2M (59% 2022) (Net loss $104.1M 2022) Adjusted EBITDA Operating Cash balance improved $126.2M cash inflow 1 increased
Slide 6: Building a vertically integrated business
Building a vertically integrated business World-class innovation and manufacturing infrastructure Equipped to deliver Liege (Quality control) Continuing to invest in patient doses globally in-house development and production capacity ⚫ Global supply chain Herstal (GMP and secondary packaging) ⚫ Isot
Slide 7: Illuccix®: U.S. market share continues to increase
Illuccix®: U.S. market share continues to increase Validated ability to commercialise Revenue from U.S. sales of Illuccix® • Average daily dose demand has increased month- 300 on-month throughout 2023 250 275.6 Reimbursement effective 1 July 200 213.5 • Overall market continues to grow due to increa
Slide 8: Financial commentary
Financial commentary €) Telix
Slide 9: 2023 revenue and adjusted EBITDAR
2023 revenue and adjusted EBITDAR1 U.S. sales driving strong, consistent commercial growth 300.0 281.7 250.0 220.8 200.0 150.0 2023 total AU $M 136.1 revenue 100.0 98.5 82.4 50.0 0.0 24.0 36.2 $502.5M (28.0) Up 214% from (50.0) H1 2022 H2 2022 H1 2023 H2 2023 $160.1M in 2022 Revenue Adjusted EBITDAR
Slide 10: Group profit and loss statement
Group profit and loss statement Strong financial stewardship in a period of high growth FINANCIAL YEAR HALF-YEAR • Gross margin improvement over the full % of % of % of % of year, reflects optimised distribution and 2023 2022 H2 2023 H1 2023 sales sales sales sales manufacturing costs $M % $M % $M %
Slide 11: Improving operating cash flow
Improving operating cash flow 2023 delivers first year of net cash inflow from operating activities Operating cash flows by half-year • Improved customer receipts reflect sales 40.0 growth and sound debtor management • Sound management of working capital 20.0 • Operating cash inflow reflects adjuste
Slide 12: Profit contribution from commercial operations
Profit contribution from commercial operations Validated commercial model • Revenue increased by 218%, reflecting a full year of 2023 2022 commercial sales of Illuccix® and continued growth in % of % of AU$M revenue AU$M revenue sales and market share gains • Selling and marketing expenses reflect i
Slide 13: 2023 R&D investment breakdown
2023 R&D investment breakdown Investing in product development to create future value • Growing revenue base deployed to accelerate the development of pipeline assets 2023 R&D costs 2022 R&D costs • Investment focused on preparation for commercial launch of late-stage diagnostic assets (Zircaix and
Slide 14: Clinical programs
Clinical programs Illustration of TLX591 binding 14 to PSMA
Slide 15: Pipeline snapshot: oncology and rare diseases
Pipeline snapshot: oncology and rare diseases TARGETING Dx/ ISOTOPE PHASE I PHASE II PHASE III COMMERCIAL UPCOMING MILESTONES AGENT Tx 177Lu ProstACT GLOBAL interim Antibody Tx readout: Q1 2025 TLX591 (177Lu rosopatamab tetraxetan) Phase I CUPID trial results: H1 Prostate Antibody α (alpha) Tx TLX59
Slide 16: Core pipeline: 2023 achievements and near-term milestones
Core pipeline: 2023 achievements and near-term milestones 2023 achievements Upcoming milestones 2024 • ProstACT GLOBAL to open in U.S. PROSTATE CANCER • ProstACT SELECT positive interim data • Data from SELECT and CUPID (592) trials THERAPY • ProstACT GLOBAL dosing patients in APAC • ProstACT GLOBAL
Slide 17: ProstACT GLOBAL trial design
ProstACT GLOBAL trial design Recruiting patients, designed to integrate with real-world standard of care ProstACT N = ~400 patients GLOBAL Randomisation stratification 2:1 • SoC – ARPI2 or docetaxel Phase III trial in patients with mCRPC1 • Disease burden progressing on 1st line androgen Group A • V
Slide 18: Strategic acquisition: QSAM Biosciences, Inc
Strategic acquisition: QSAM Biosciences, Inc Highly complementary addition to Telix’s therapeutic pipeline About the company About the technology • Austin, TX-based company • “Next generation” bone seeking • Launched in 2019, U.S. OTC-listed targeted radiopharmaceuticals • Founded by a scientific le
Slide 19: Imaging portfolio
Imaging portfolio CAIX-positive TLX250-CDx PET/CT scan (ZIRCON study)
Slide 20: Update: TLX250-CDx in kidney cancer imaging
Update: TLX250-CDx (Zircaix 1) in kidney cancer imaging $500M+ initial U.S. opportunity, further expansion potential in staging and recurrence U.S. TAM Upside to TAM from Annual potential scans estimate 170,000+ scans multiple scans per patient, active surveillance Potential clinical utilisation: In
Slide 21: Update: TLX101-CDx in brain cancer imaging
Update: TLX101-CDx (Pixclara 1) in brain cancer imaging $100M-140M initial U.S. opportunity, upside to $475M-665M from indication expansion U.S. TAM Annual potential scans estimate 95,000+ scans Potential clinical utilisation: 20,0001 Initial opportunity: USD $100-140M 1. Glioma: 15,0001 Exploring t
Slide 22: Outlook
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Slide 23: Guidance
Total R&D investment Guidance allocation 2023 2024 financial performance Late-stage • Full year revenue expected range of US$445M to US$465M ($675M to $705M at 8% diagnostics current exchange rates), representing a ~35-40% increase on 2023 Therapeutics 25% 42% and other • Revenue guidance is based o
Slide 24: A strong foundation for growth
A strong foundation for growth R&D program to drive value creation Progress late-stage therapeutics Commercialise diagnostics ● Phase 3 ProstACT GLOBAL trial for prostate cancer therapy (TLX591) ● Planned launch of Zircaix and Pixclara 1 ● Phase 2 STARLITE trials and Phase 1b STARSTRUCK trial of TLX
Slide 25: Contact details
Contact details: Kyahn Williamson SVP Investor Relations and Corporate Communications kyahn.williamson@telixpharma.com 25