Core Viewpoint - Telix Pharmaceuticals Ltd. is facing a securities class action lawsuit due to regulatory setbacks and significant stock declines, particularly following critical disclosures regarding its manufacturing and supply chain processes [1][4]. Allegations and Events - The lawsuit alleges that Telix and its executives made false and misleading statements about the company's business, inflating its valuation before the truth was revealed [2][3]. - Key allegations include overstated therapeutic progress for prostate cancer candidates TLX591 and TLX592, and misrepresentation of the stability and regulatory compliance of its third-party supply chain [5]. - The lawsuit identifies two major events that led to a sharp decline in Telix's stock price: 1. A subpoena from the SEC on July 22, 2025, which caused a more than 13% drop in stock price over two trading sessions [5]. 2. A Complete Response Letter from the FDA on August 28, 2025, rejecting the Biologics License Application for TLX250-CDx, leading to a further decline of over 21% in stock price [5][4]. Investigation - Hagens Berman is investigating the claims against Telix, focusing on discrepancies between the company's assurances and the regulatory revelations that followed [6].
Telix Pharmaceuticals (TLX) Sued After Alleged Misstatements on Prostate Cancer Drug Progress and Supply Chain Reliability-- Hagens Berman