Telix Pharmaceuticals Ltd (TLX, TLZ.AX), a commercial-stage biopharmaceutical company, announced on Wednesday that it has dosed the first patient in the pivotal Phase 3 IPAX BrIGHT trial evaluating TLX101-Tx for the treatment of recurrent glioblastoma, an aggressive type of brain cancer. The patient was dosed at Austin Health in Melbourne, Australia.
The Phase 3 IPAX BrIGHT trial is a global, multicenter, open-label study evaluating the safety and efficacy of TLX101-Tx in combination with chemotherapy (Lomustine).
TLX101-Tx is an experimental radiopharmaceutical therapy that was granted orphan drug status by the U.S. Food and Drug Administration (FDA) and in Europe for the treatment of Glioma. The small-molecule design enables TLX101-Tx to cross the blood-brain barrier.
In the earlier Phase 1 IPAX-1 trial, subjects had a median overall survival (OS) of 13 months from the first dose with TLX101-Tx, or 23 months from the time of initial diagnosis.
Also, the preliminary results from the ongoing IPAX-Linz trials show a median OS of 12.4 months from treatment initiation and 32.2 months from initial diagnosis.
In a parallel announcement, the firm priced and upsized its 1.50 per cent convertible notes due 2031 from $550 million to $600 million at an initial conversion price of $13.85 or approximately A$19.55 per ordinary share.
Under the announced reverse bookbuilding process, Telix will concurrently repurchase approximately A$637 million of its existing A$650 million convertible bonds due 2029.
Settlement of the offering and the concurrent repurchase is expected on 22 April 2026, subject to customary conditions.
TLX closed Tuesday at $10.70, down 4.80%. In the overnight market, shares are trading at $10.49, down 1.99%.
In the pre-market, TLX is down 1.99% at $10.49.
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