“Could the next financial crisis already be sitting inside your superannuation account?” Wealth Within chief analyst and founder Dale Gillham posited over the weekend.

“It sounds alarmist, but regulators are increasingly asking it as Australia’s private credit market has grown to around $250 billion,” he added.

That compares to Australia’s total super assets of around $4.4 trillion.

What new crisis is brewing for superannuation accounts?

The crisis Gillham is talking about is the recent collapse of residential property developer Bathla Group.

Amid slumping property sales, high interest rates, and rising labour and material costs, Bathla entered into voluntary administration in August. The company has around $3.4 billion in liabilities, which are largely held by private credit lenders.

Gillham said the collapse has exposed dangerous cracks in Australia’s private credit market, putting millions of superannuation accounts at risk amid ongoing elevated interest rates.

The level of that risk will depend, to some extent, on how soon you plan to retire, and in which asset classes you’ve invested your superannuation.

“ASIC has repeatedly highlighted the growing connection between private credit and the super sector, warning investors to better understand the risks involved,” Gillham said.

He noted:

What was once a niche corner of finance has become one of the country’s fastest-growing sources of funding. Most Australians have probably never heard of private credit. Yet many could already have exposure through their superannuation.

The bigger picture

Gillham said that Bathla’s collapse wasn’t the real story behind the growing risk to millions of superannuation accounts. However, the property developer’s insolvency had “thrust those risks into the spotlight”.

He said, “The real issue is that many of the conditions that could place pressure on private credit are already emerging.”

Gillham explained:

Interest rates remain elevated, inflation has proven more persistent than many expected, construction costs remain significantly higher than before the pandemic and parts of the property market are beginning to soften.

At the same time, developers who borrowed heavily during years of ultra-low interest rates are being forced to refinance at much higher borrowing costs.

Which would seem to make Bathla a bit of a canary in a coal mine situation.

Indeed, Gillham noted, “Pressure then begins to build across the entire system, and that is where the risk to superannuation begins.”

He added:

If several major developers fail within a short period, fund managers may be forced to write down the value of their loans. Those write-downs could then trigger redemption requests from investors seeking to reduce their exposure.

Gillham concluded, “The real risk is that Bathla won’t be remembered as an isolated collapse, but as the first domino to fall.”

The post Did this $3.4 billion Black Swan event just put your superannuation at risk? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Telix Pharmaceuticals Ltd (ASX: TLX) share price is in focus today after the company announced its brain cancer imaging drug, Pixclara, has won approval from the US FDA—making it the first FET-PET imaging drug cleared for use in glioma and expanding Telix’s precision medicine portfolio.

What did Telix Pharmaceuticals report?

• FDA approved Pixclara® (floretyrosine F 18), for imaging gliomas (brain cancer) in adult and paediatric patients
• Pixclara is the first FDA-approved FET-PET imaging drug for glioma
• Pixclara’s approval addresses a significant unmet need in US brain cancer diagnostics
• Product expansion reinforces Telix’s position in precision diagnostics and targeted radiopharmaceutical “theranostics”

What else do investors need to know?

Pixclara is the only FDA-approved radiopharmaceutical imaging drug specifically for glioma, a difficult-to-treat brain cancer representing around 24,000 new cases annually in the US. The new drug is indicated for adults and children as young as one month old and is expected to support better treatment decision-making for both clinicians and patients.

The approval also makes Pixclara eligible for widespread clinical use. FET-PET imaging has been recommended in various international guidelines, but until now, there was no FDA-approved product available in the United States. Telix already has other FDA-approved imaging offerings and is working on advancing late-stage therapies across multiple cancers.

What did Telix Pharmaceuticals management say?

Kevin Richardson, Chief Executive Officer, Telix Precision Medicine, said:

FDA approval of Pixclara will enable broad access in the U.S. to FET-PET imaging, which is already recognized in international clinical practice guidelines. As the first FDA-approved PET imaging drug for glioma, Pixclara will provide physicians in the U.S. with more certainty in their diagnoses and greater confidence in their treatment planning for patients.

What’s next for Telix Pharmaceuticals?

Telix says Pixclara is already the subject of a Phase 3 trial for diagnosis in additional brain conditions, with potential expansion to brain metastases. The company continues to leverage its global diagnostics platform and late-stage radiopharmaceutical pipeline to target market leadership in both imaging and treatment for several high-need cancers.

Telix’s broader pipeline includes late-stage assets in prostate, kidney, and glioblastoma cancers, with a focus on bringing further precision medicine products to both existing and new markets worldwide.

Telix Pharmaceuticals share price snapshot

Over the past 12 months, Telix shares have risen 12%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

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The post Telix Pharmaceuticals shares: FDA approves Pixclara brain cancer drug appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Cleanaway Waste Management Ltd (ASX: CWY) share price is in focus following its latest update on the proposed EQT Infrastructure acquisition. EQT has restated its intent to proceed without any negative changes to its initial indicative price, giving shareholders renewed confidence in the ongoing scheme discussions.

What did Cleanaway Waste Management report?

• EQT Infrastructure confirmed nothing in its due diligence would cause it to withdraw or reduce its indicative proposal.
• No less favourable terms are proposed for Cleanaway shareholders.
• The offer consideration remains at least at the previously indicated level.
• The hard exclusivity period under the Transaction Process Deed has ended as planned.
• Both parties are working toward an implementation deed but no binding agreement has been reached yet.

What else do investors need to know?

EQT Infrastructure has finished its agreed exclusivity period for reviewing Cleanaway, but remains engaged and positive about progressing the transaction. The proposal is still indicative and non-binding, meaning there is no guarantee it will result in a formal offer.

Shareholders are not required to take any action currently. Cleanaway’s board has assured investors that they will provide further updates as developments occur. The Board’s proactive communication helps keep everyone in the loop on this potential change in ownership.

What’s next for Cleanaway Waste Management?

The next key step will be finalising due diligence and entering into an implementation deed—if terms can be agreed—so shareholders can consider a definitive proposal. Cleanaway continues operating as usual, maintaining its commitment to service, sustainability, and shareholder value.

With the deal still unconfirmed, investors should watch future announcements closely for any advances, revised offers, or changes in EQT’s intentions.

Cleanaway Waste Management share price snapshot

Over the past 12 months, Cleanaway shares have declined 9%, trailing the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

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The post Cleanaway Waste Management provides EQT bid update appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.