ASX health stock Telix wields another big stick in prostate cancer fight

Telix has another big stick to wield against prostate cancer, after a successful study of its drug TLX592, involving patients with an advanced form of the disease.

Telix says TLX592 shows promise as a potent warrior in the prostate cancer battle. Picture Getty

Telix Pharmaceuticals (ASX:TLX) has on Tuesday announced the successful completion of CUPID, a first-in-human Phase I dose escalation study of TLX592 in patients with advanced prostate cancer.

The CUPID study is an investigation employing a “3+3 mass dose escalation design” across four patient cohorts.

Its aim is to assess the safety, tolerability, pharmacokinetics, biodistribution, and radiation dosimetry of its drug, TLX592.

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The study uses copper-64 (64Cu) – detectable via positron emission tomography (PET) – which serves as a surrogate for actinium-225 (225Ac).

Preliminary findings from the study, involving 11 assessable patients, have unveiled expedited blood kinetics compared to Telix’s lead radiopharma antibody-drug, TLX591.

Faster blood kinetics mean that the drug is absorbed and circulated more rapidly in the bloodstream. This efficiency can potentially lead to quicker onset of action and therapeutic effects.

Moreover, TLX592 demonstrates comparable on-target and off-target bio-distribution, alongside favourable hepatic clearance (the process by which drugs or substances are removed from the bloodstream by the liver).

Encouragingly, no serious adverse events have been reported during the course of the study.

Based on these results, Telix is planning to move forward with TLX592 into a Phase 1/2 study using 225Ac later in 2024, if it gets the thumbs-up from the regulators.

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Telix says TLX592 further deepens its PSMA2-targeting prostate cancer therapy portfolio, joining its main player, TLX591, which is already making good progress in the ProstACT GLOBAL Phase3 study.

“We are excited to progress TLX592 into therapeutic studies where our aim is to develop this agent for both early metastatic prostate cancer and late-stage patients who are no longer responding to lutetium therapy,” said Dr David N. Cade, group chief medical officer at Telix.

Sonic takes a tumble

Giant healthcare stock Sonic Healthcare (ASX:SHL) meanwhile tumbled by 8.5 per cent on Tuesday morning after downgrading its forecast.

By 1.30pm (AEST), that loss had shrunk somewhat, though SHL’s share price was still down more than 6.3 per cent for the day.

Sonic said it was now forecasting (with two months’ trading outstanding) EBITDA for FY24 of approximately $1.6 billion, on revenues of about $8.9 billion.

Guidance for FY25 will be updated at its full year results’ release in August.

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Although organic revenue growth has been holding strong at 6 per cent for the four months leading up to April 30, SHL’s profit growth hasn’t quite hit the mark.

Sponic said this was partially due to inflationary pressures impacting operations, compounded by unfavourable currency exchange rates.

Additionally, several initiatives aimed at improving margins in the second half of FY24 had encountered delays, impacting anticipated earnings growth until FY25.

Looking ahead however, Sonic anticipates a moderation of inflationary pressures, with headline inflation rates in Sonic’s key markets already showing signs of reduction to a range of 1.4 per cent to 3.6 per cent.

This content first appeared on stockhead.com.au

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Originally published as ASX health stock Telix wields another big stick in prostate cancer fight