7 Best ASX Stocks to Buy Right Now

3. Telix Pharmaceuticals Limited (NASDAQ:TLX)

Number of Hedge Fund Holdings: 2

Telix Pharmaceuticals Limited (NASDAQ:TLX) is a biotechnology company developing treatments for ailments such as prostate and kidney cancer. The firm’s prostate cancer therapy candidate TLX591 is currently in a phase three study. On this front, Telix Pharmaceuticals Limited (NASDAQ:TLX) shared important news on December 8th when it announced that it had dosed the first patient in the study’s part two. The phase three study is called ProstACT, and according to Telix Pharmaceuticals Limited (NASDAQ:TLX), part two will enroll roughly 490 patients. The firm will also share part one’s results with the Food and Drug Administration (FDA) as part of its bid to bring the part two study to the US.

Telix Pharmaceuticals Limited (NASDAQ:TLX) also made additional inroads to the US in September when it announced on the 23rd that it had received Medicare and Medicaid’s Transitional Pass-Through payment status for its prostate cancer imaging agent Gozellix. This status means that hospitals will get a separate reimbursement for using the imaging agent. Telix Pharmaceuticals Limited (NASDAQ:TLX)’s third-quarter financial report, released on October 14th, saw it report $206 million in revenue to mark 53% annual growth. It also increased its fiscal 2025 revenue guidance to $820 million from $800 million and shared that revenue from imaging products such as Gozellix accounted for the bulk of its sales.