Why the Telix (ASX:TLX) share price is surging 8%

Telix Pharmaceuticals Ltd (ASX: TLX) shares are rocketing higher this morning after the company announced the United States Food and Drug Administration (FDA) approved its new drug application (NDA) for a prostate cancer imaging product. In early morning trade, the Telix share price is trading 8.1% higher at $3.07.

NDA approval

Investors are driving up the Telix share price today after news that the FDA has accepted the company’s NDA for TLX591-CDx (kit for the preparation of Ga-PSMA-11). The prostate cancer imaging product is a radiopharmaceutical targeting Prostate-Specific Membrane Antigen (PSMA). It uses a Positron Emission Tomography (PET) to scan for the disease.

Telix’s NDA submission for its prostate cancer imaging…