It is the second ASX-listed growth stock to flag intentions to list in New York, with Life360, the developer of family social media apps, to debut overnight.
Already a subscriber?Telix Pharmaceuticals, the developer of cancer treatments and a favourite of local fund managers, will raise $US200 million and list on the Nasdaq later this year as it searches for deeper capital markets to fund its product development.The cancer treatment developer will list on the US market later this year.Telix’s market capitalisation has grown rapidly. It listed on the ASX in late 2017 with a $128 million valuation.
“There’s a lot of money flowing into the space to help come up with the next-generation of radiotherapy,” she said. Since then, according to prospectus documents filed with the Securities and Exchange Commission ahead of the Nasdaq listing, Telix has generated revenues of $824.3 million from the sale of Illuccix since its commerce launch in April 2022.
Another $US40 million will be used to trial the expanded use of Illuccix for other cancers and some $US30 million to build out supply chains and manufacturing.
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