MELBOURNE, Australia, Oct. 18, 2024 /PRNewswire/ -- Telix Pharmaceuticals Limited (ASX: TLX, Telix, the Company) announces that it has publicly filed a Form 20-F registration statement (Registration Statement) with the United States (U.S.) Securities and Exchange Commission (SEC) relating to a proposed listing of American Depository Shares (ADS), representing the Company's ordinary shares, on the Nasdaq Stock Market (Nasdaq).
(PRNewsfoto/Telix Pharmaceuticals Limited)
The proposed Nasdaq listing is expected to be established as a Level II American Depositary Receipt (ADR) program, enabling streamlined and simplified access to Telix shares by the U.S. market. The Company believes this decision will further facilitate significant interest in the Company from U.S. and global investors, as well as simplify access to Telix's securities and equity-related incentives for U.S. domiciled employees. Telix is not proposing to raise capital or issue any new shares under the Registration Statement or as part of the proposed Nasdaq listing.
Telix's commercial and operational presence in North America is expanding through both organic growth and acquisitions, with the majority of Telix's employees now based in the U.S. Telix believes that a Nasdaq listing aligns with its strategic goals to broaden its global investor base and to attract and retain the highest calibre of talent, while increasing visibility in the most dynamic securities market for global biopharmaceutical firms.
The Company expects to retain its primary listing for its ordinary shares on the Australian Securities Exchange (ASX) for the foreseeable future, alongside the proposed Nasdaq listing. Each ADS will represent one fully paid ordinary share of the Company and will trade on Nasdaq under the ticker symbol "TLX".
The commencement of trading on Nasdaq is expected to take place after the SEC and Nasdaq have completed their review process and following effectiveness of the Registration Statement. There can be no assurance as to the occurrence, timing and/or completion of the proposed listing.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialisation of therapeutic and diagnostic radiopharmaceuticals and associated medical devices. Telix is headquartered in Melbourne, Australia, with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).
Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn.
This announcement has been authorised for release by the Telix Pharmaceuticals Limited Board of Directors.
Legal Notices
You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX) or on our website.
The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.
This announcement may contain forward-looking statements that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as "may", "expect", "intend", "plan", "estimate", "anticipate", "believe", "outlook", "forecast" and "guidance", or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix's business, forward-looking statements may include, but are not limited to, statements about: Telix's plans to establish a Level II ADR program in the United States, including the review and approval by Nasdaq of the proposed listing of Telix ADS and the subsequent commencement of trading of the ADS on Nasdaq, which may not occur on a timely basis, if at all, and the anticipated benefits of such listing; the timing for effectiveness of Telix's Registration Statement on Form 20-F, including review by the SEC; the initiation, timing, progress and results of Telix's preclinical and clinical trials, and Telix's research and development programs; Telix's ability to advance product candidates into, enrol and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix's product candidates, manufacturing activities and product marketing activities; Telix's sales, marketing and distribution and manufacturing capabilities and strategies; the commercialisation of Telix's product candidates, if or when they have been approved; Telix's ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix's expenses, future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; and the pricing and reimbursement of Telix's product candidates, if and after they have been approved. Telix's actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.
