Telix Pharmaceuticals Limited · ASX:TLX
Telix Pharmaceuticals — FY2024 Earnings Presentation
41 slides from Telix Pharmaceuticals's earnings presentation, Feb 21, 2025
Slide 1: FY2024 Full Year Results Presentation
FY2024 Full Year Results Presentation 20 February 2025 ASX: TLX | NASDAQ: TLX Images used with permission.
Slide 2: Disclaimer
Disclaimer This presentation should be read together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX) and the U.S. Securities and Exchange Commission (SEC), including our registration statement on Form 20-F filed with the SEC, or on
Slide 3: Introduction and FY2024 highlights
Introduction and FY2024 highlights Kyahn Williamson SVP Investor Relations and Corporate Communications 3
Slide 4: Presenters and Agenda
Presenters Agenda 1 FY2024 Highlights 2 Strategy and performance Kyahn Williamson Christian Behrenbruch Darren Smith SVP Investor Relations and Corporate Communications Managing Director and Group CEO Group Chief Financial Officer 3 Financial results 4 Precision Medicine business unit 5 Therapeutics
Slide 5: Operational highlights
Operational highlights Delivering our strategy, ready for our next phase of growth Grow • Market share growth and innovation in PSMA imaging precision medicine • • U.S. launch preparation for Gozellix®, Pixclara® and Zircaix®1 Readiness for EU/UK launch of Illuccix® 2024 reflects our transformation
Slide 6: Financial highlights
Financial highlights Revenue and earnings growth, while investing in the future Revenue (AU$M) Second-year of profitable growth achieved while: 800 600 783.2 +56% Year on year • Investing in our late-stage pipeline, including preparing to (YoY) 400 783.2 502.5 launch three new products in 2025 and a
Slide 7: Business strategy
Business strategy Chris Behrenbruch Managing Director and Group CEO 7
Slide 8: Growth strategy
Growth strategy Our mission is to be the global leader in theranostic radiopharmaceuticals Deliver Build Grow Expand our late-stage the next generation of our industry-leading our global therapeutic pipeline radiopharmaceuticals precision medicine infrastructure for business product delivery 8
Slide 9: Transformation and growth through M&A
Transformation and growth through M&A Acquisitions and partnerships aligned to our strategy Adding sought-after resources, capabilities and value-creating assets Focus areas Delivery Pipeline expansion Indication and infrastructure and platforms franchise expansion Strategic • Advance Adding core ca
Slide 10: Financial strategy: Investing for sustainable growth
Financial strategy: Investing for sustainable growth Reinvesting revenue today to build the business of the future Revenue growth potential Earnings growth potential Three 2021 – 2024 2025 - 2027 2028 and beyond phases of Transition to commercial Diversify and grow revenue Transition to higher value
Slide 11: Financial results
Financial results Darren Smith Group Chief Financial Officer 11
Slide 12: FY2024: Key financial metrics
FY2024: Key financial metrics Improvement across all key metrics, while investing for future growth Revenue Gross margin Cash balance as at 31 December 2024 growth 56% YOY improved $710.3M 65% vs $123.2M 31 Dec 2023 (63% 2023) Includes $635M net proceeds from convertible bond issue Adjusted EBITDA1
Slide 13: Revenue growth funds expansion
Revenue growth funds expansion YoY increase in operating profit • Costs stable as a percentage of revenue 2024 % of 2023 % of AU$M sales AU$M sales • Gross margin improvement reflects stable Illuccix® pricing across key segments Revenue 783.2 502.5 Cost of sales (273.6) (188.2) • Selling and marketi
Slide 14: Adjusted EBITDA demonstrates strong underlying growth
Adjusted EBITDA demonstrates strong underlying growth YOY improvement in a period of investment and one-off costs Adjusted EBITDA • One-off costs related to U.S 8.0 (8.1) IPO, successfully leveraged 8.2 0.9 8.2 +70% to minimize subsequent YoY 99.3 ADRII listing and convertible bonds costs 82.1 • Tra
Slide 15: R&D overview
R&D overview $195M investment weighted towards delivering late-stage assets to commercialization • Total R&D investment increased Precision Medicine (Px) Therapeutics (Tx) ~50% compared to 2023 • Px investment includes regulatory 4% 8% 7% filings, manufacturing and inventory scale-up in preparation
Slide 16: Business segment: Precision Medicine
Business segment: Precision Medicine Improving operating leverage • Revenue increased by 55%, reflecting 2024 % of 2023 % of a stable Illuccix® selling price, continued AU$M revenue AU$M revenue growth in sales and market share gains Revenue 771.1 496.7 • Selling and marketing expenses reflect Cost
Slide 17: Business segment: Therapeutics
Business segment: Therapeutics Increased investment reflects momentum in the pipeline • Therapeutics R&D investment increased 74% from 2024 2023 2023, reflecting focus on delivering the therapeutic AU$M AU$M pipeline • The majority (69%) of R&D investment is focused on Late-stage clinical 57.3 34.4
Slide 18: Business segment: Telix Manufacturing Solutions
Business segment: Telix Manufacturing Solutions Expanding global production infrastructure and capabilities • Incremental increase in TMS operating 2024 2023 expenditure reflects: AU$M AU$M – Addition of ARTMS, Inc. and Revenue 2.8 0.4 IsoTherapeutics Group’s operations Cost of sales (2.7) - – Opera
Slide 19: Improved operating cash flow
Improved operating cash flow Supported by revenue growth and debtor management AU$M • Operating cash flow of $43.0M, 718.1 (675.1) increased by 80% from 2023 • Operating and development 679.3 710.3 costs include $35.9M earnout payment to former ANMI shareholders, which concludes in 2025 • Strategic
Slide 20: Precision medicine
Precision medicine Kevin Richardson CEO, Precision Medicine 20
Slide 21: Precision medicine portfolio
Precision medicine portfolio Expanding commercial portfolio 1. Brand name subject to final regulatory approval. 21
Slide 22: Precision medicine commercial performance (U.S. market)
Precision medicine commercial performance (U.S. market) Illuccix® gains share in the PSMA market as revenue increases Total revenue • Revenue increased for 10th consecutive US$M1 Q4 2025 quarter since launch +55% • Clinical accuracy, reliability of delivery, and end-to-end customer service driving Y
Slide 23: Precision medicine growth strategy
Precision medicine growth strategy Global expansion of Telix’s industry-leading precision medicine business Product Global Pipeline Patient reach launches1 expansion Preparing for U.S. Active product lifecycle Label expansion Illuccix® European / Grow the launches2 management + novel studies for pro
Slide 24: 2025 focus: Global commercial expansion
2025 focus: Global commercial expansion Launch preparation for new markets and new products U.S. • Gozellix1: follow-on • Zircaix1 BLA2 filed with • Pixclara1 NDA5 accepted PSMA product, PDUFA3 FDA December 2024 with priority review, PDUFA goal date 24 March goal date 26 April 2025 • Expanded acces
Slide 25: Therapeutics
Therapeutics Richard Valeix CEO, Therapeutics 25
Slide 26: Therapeutics: Core to our strategy
Therapeutics: Core to our strategy Pipeline of differentiated assets in high-value indications • Complete ProstACT GLOBAL pivotal trial of TLX591, first rADC1 in 1L/2L mCRPC2 Progress late- stage • Submit INDs to progress potential first-in-class radiotherapeutics to pivotal phase in other core ther
Slide 27: Late-stage pipeline
Late-stage pipeline Targeting three assets in pivotal trials in 2025 1. Cluster of differentiation 66. 27
Slide 28: Early-stage pipeline
Early-stage pipeline “Next generation” products 1. Platelet derived growth factor receptor alpha. 28
Slide 29: TLX591: A highly differentiated approach to PSMA therapy
TLX591: A highly differentiated approach to PSMA therapy Established safety profile and potential to improve efficacy • ProstACT GLOBAL Phase 3 study recruiting in U.S. and Asia Pacific (APAC) • ProstACT SELECT study demonstrated safety and tolerability of TLX591, and median rPFS1 of 8.8 months2 • P
Slide 30: TLX250: Validated in ccRCC, pan-cancer potential
TLX250: Validated in ccRCC, pan-cancer potential Positioned to be first CAIX-targeting rADC to market TOP: 89Zr-girentuximab PET/CT at baseline showing uptake in • Promising target expressed in a sacral metastatic lesion in a patient with ccRCC. >90% of ccRCC (most common kidney cancer) and range of
Slide 31: TLX101: Impacting glioblastoma
TLX101: Impacting glioblastoma Upcoming data readouts and commencement of pivotal trial • Patient need: Glioblastoma currently has poor TLX101 therapy: Patient with glioblastoma, outcomes with a median overall survival of 12-15 TLX101-CDx PET imaging demonstrating months1, 5-year survival of 4.7% re
Slide 32: Next generation assets entering the clinic
Next generation assets entering the clinic Adding strategic value through our pipeline and platform Alpha therapy candidates Building depthKidney CAIX in urology Future focused pipeline and platform • TLX592 demonstrated clinical • TLX090 for bone metastases • Pipeline of next generation proof-of-co
Slide 33: Telix Manufacturing Solutions
Telix Manufacturing Solutions Chris Behrenbruch Managing Director and Group CEO 33
Slide 34: Global manufacturing capability is key to delivery
Global manufacturing capability is key to delivery Capabilities and capacity to meet future demand in a growing industry Our strategy is based on: Harnessing resources Last mile delivery, patient and expertise confidence Isotope production Clinical & commercial Conjugation Scaling to meet rapid dose
Slide 35: Extensive last-mile delivery network for U.S. coverage
Extensive last-mile delivery network for U.S. coverage 245 points of distribution ensure patient access and reliability1 Strategic partner networks Telix-owned network 1. Number of radiopharmacies in network as of 31 December 2024. 35
Slide 36: Expanding global infrastructure
Expanding global infrastructure Focus on integration and investment to drive synergies Investing in production capacity and capabilities • Building a next-generation network to benefit Telix and partners • Localized production for major markets • Deployment of ARTMS technology in-house and to partne
Slide 37: Guidance and outlook
Guidance and outlook Oy Telix
Slide 38: FY2025 Guidance
FY2025 Guidance Revenue (AU$’M) Guiding to revenue of up to $1.23B 1,230 Revenue: AU$1.18B to AU$1.23B (US$770M to US$800M) includes: 1,185 783 • Revenue from sales of Illuccix® in jurisdictions with a marketing authorization1 203 • 11 months of RLS revenue (and excluding RLS revenue 160 generated f
Slide 39: Multiple drivers of value creation
Multiple drivers of value creation Foundations in place for rapid and sustainable growth Commercial Pipeline Ensuring 2025 A transformative growth development patient access • Proven track • Multiple near-term • Industry-leading year for Telix record of delivery catalysts supply chain, production •
Slide 40: Delivering the plan: Catalysts
Delivering the plan Catalysts Deliver our late-stage Build the next Grow our industry- Expand our global therapeutic pipeline generation of leading precision infrastructure for radiopharmaceuticals medicine business product delivery H1 2025 H2 2025 ProstACT GLOBAL (TLX591) Zircaix2 anticipated FDA a
Slide 41: Contact
Contact: Kyahn Williamson SVP Investor Relations and Corporate Communications kyahn.williamson@telixpharma.com Illustration showing TLX250 binding to carbonic anhydrase IX and internalization