Telix Pharmaceuticals' shares advanced 5.25% in pre-market trading on Wednesday, lifting the stock to $11.42 from Tuesday's close of $10.85, as investors reacted to the completion of patient enrollment in the Phase 3 BiPASS study.
The trial evaluates Telix's commercial PSMA-PET imaging agents, Illuccix and Gozellix, combined with MRI, against standard-of-care procedures for prostate cancer detection in the pre-biopsy setting. The company also confirmed alignment with the U.S. Food and Drug Administration on a New Drug Application pathway for BiPASS, which, if approved, would support reimbursement as a distinct product and expand patient access beyond the current label.
The announcement was formally disclosed via an SEC Form 6-K filing on September 2, 2026. H.C. Wainwright reiterated its Buy rating and $20 price target on Telix Pharmaceuticals following the enrollment completion news.
Telix reported a 22% revenue increase and a 146% rise in EBITDA for the first half of 2026 in its August financial results. The stock's gain appears company-specific, as broader equity benchmarks showed little directional movement, with the S&P 500 flat and the NASDAQ modestly lower.
Telix Pharmaceuticals' shares have traded between $10.85 and $12.48 over the past 52 weeks.
