Telix Pharmaceuticals Ltd. (TLX) saw its stock surge 10% in after-hours trading on Tuesday, following the announcement that a research center in Miami has begun recruiting and dosing patients for the company's Phase 3 clinical trial of TLX591, an investigational treatment for advanced prostate cancer.

The ProstACT Global Phase 3 trial is evaluating TLX591, a radioantibody-drug conjugate (rADC) that targets prostate-specific membrane antigen (PSMA), in combination with standard-of-care therapies for metastatic castration-resistant prostate cancer (mCRPC). The trial aims to assess the safety and efficacy of TLX591 as a first-line or second-line treatment option for this patient population.

The Biogenix Molecular Research Center in Miami has successfully administered the first two doses of TLX591 to a local patient and continues to recruit eligible participants for the trial. According to the center's director, Dr. Frankis Almaguel, there is a significant unmet need for effective combination therapies in mCRPC, and TLX591 has shown promising results in earlier-stage trials.