TLX is a $1.5bn biotech which has been under significant pressure since it reported for the December quarter primarily because cash reserves had more than halved to just over $22m. The news that it had received regulatory approval for its lead prostate cancer imaging product illuccix is clearly now regarded as old news and its all about commercialisation – the co-founders selling over 8% of their holding in the business hasn’t helped market confidence.
MM is neutral TLX
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