Strategy Update: Switch 2% of Neuren Pharma (NEU) to Telix Phama(TLX)

Date: 29/11/2023

*** GENERAL AVICE ONLY***

Balanced Portfolio 

Neuren Pharma (NEU) – Current holding 2%

Telix Pharma (TLX) – Current holding 0%

Switch of 2% allocation in Neuren Pharma (NEU) to Telix Pharma (TLX)

Neuren Pharma (NEU)While we were hoping for further upside before their expected announcement of clinical trial results for NNZ-2591 in December, it is looking less likely. Neuren Pharma (NEU) has lingered at record highs for 2 weeks and failure to move higher is indicative of negative price action, particularly given there was speculation of a takeover bid on the 20^th of November.

We feel the risk of clinical trial results is not worth taking and taking profits is appropriate

This would see us make around a 28% profit on NEU since the 10^th of August and see Telix Pharma as a better opportunity in the space

Telix Pharmaceuticals (TLX) presents an exciting opportunity in our balanced portfolio, showcasing significant advancements in the biotech and cancer treatment sector. As a pioneering company, Telix is rolling out its first approved product, Illuccix, for prostate cancer imaging, while actively developing a robust pipeline of assets for both imaging and therapy. This includes the promising TLX250CDx for kidney cancer imaging and the advanced therapeutic asset TLX591. With Illuccix already approved in key markets like the USA, Australia, and Canada, and pending submissions in Europe and Asia, Telix is rapidly expanding its global footprint. The company’s innovative use of radioactive isotopes positions it at the forefront of a revolutionary approach in cancer care, promising to dramatically improve patient outcomes and reshape clinical practices. The potential market size for Telix’s products, particularly in the US, underscores significant financial growth opportunities.

Neuren Pharma (NEU) – Allocation after switch 0%

Telix Pharma (TLX) – Allocation after switch 2%