Renaissance Capital logo

Australian radiopharmaceutical biotech Telix Pharmaceuticals pulls $202 million US IPO

June 14, 2024

Telix Pharmaceuticals, a commercial-stage Australian biotech developing therapeutic and diagnostic radiopharmaceuticals, has decided not to move forward with its US IPO, citing market conditions. It had filed to raise $202 million by offering 17 million ADSs at $11.87, the as-converted June 4 close of its shares on the ASX (TLX).

The North Melbourne, Australia-based company was founded in 2017 and booked $383 million in revenue for the 12 months ended March 31, 2024. It had planned to list on the Nasdaq under the symbol TLX. Jefferies, Morgan Stanley, Truist Securities, and William Blair were set to be the joint bookrunners on the deal.