H.C. Wainwright reiterates Buy on BridgeBio stock on trial data

Telix Pharmaceuticals' stock experienced a significant 5.2% rally in pre-market trading today due to the company's announcement of completing patient enrollment in its Phase 3 BiPASS study. This study is evaluating Telix's commercial PSMA-PET imaging agents, Illuccix and Gozellix, when combined with MRI, as a potential alternative to standard care for detecting prostate cancer in the pre-biopsy setting.

The completion of patient enrollment provides crucial reassurance to investors, as it removes execution risk from this key pipeline milestone.

The announcement was filed with the SEC as a Form 6-K on September 2, 2026. Telix has officially aligned with the FDA on a New Drug Application (NDA) pathway for BiPASS. If approved, this would allow Telix to seek reimbursement for BiPASS as a distinct new product and expand patient access beyond the current label. This development, combined with the completion of patient enrollment, has generated considerable excitement among investors.

Following the news of enrollment completion, H.C. Wainwright reaffirmed its Buy rating and set a price target of $20.00 per share for Telix's stock. This analyst reaffirmation further bolstered investor conviction and contributed to the stock's outsized pre-market gain. The company's strong financial performance in the first half of 2026 also bolstered confidence in Telix's potential to capitalize on a potential BiPASS approval. In August, Telix reported a 22% revenue increase and EBITDA up 146% year-over-year.

The broader market conditions did not significantly impact Telix's stock movement today. While the S&P 500 remained essentially flat and the NASDAQ was modestly down, the company-specific catalysts surrounding the BiPASS study completion and FDA pathway endorsement proved to be the driving force behind the stock's impressive rally. As a result, Telix's stock surged towards $11.42, bringing it closer to its 52-week high of $12.48.