Telix agreed to buy ITM for $1.65 billion, largely paid in Telix shares. The deal brings $273 million in recent revenue and global manufacturing scale, but ITM-11 has an FDA CRL and the purchase includes large share issuance and contingent payouts.
The deal gives Telix immediate scale, manufacturing reach, and a late-stage therapeutic candidate. Those gains are balanced by an FDA Complete Response Letter for ITM-11 and a large share-funded purchase, so I read this as neutral.
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