Australian pharmaceutical company Telix's stock price plummeted by 12% as the SEC is investigating its drug information disclosure.

On Wednesday morning, Eastern Time, Australian biopharmaceutical company Telix Pharmaceuticals saw its stock price plummet by 12% after the company disclosed that the U.S. Securities and Exchange Commission is investigating its disclosure of information regarding its prostate cancer treatment drug. Despite the company's 63% increase in second-quarter revenue, this investigation overshadowed its financial performance, leading Jefferies Group to lower its target stock price.