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TG Therapeutics
🇺🇸 NASDAQ:TGTX
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Mar 31, 2024

TG Therapeutics Q1 2024 Earnings Report

TG Therapeutics reported strong Q1 2024 results with significant revenue growth driven by BRIUMVI U.S. sales and a milestone payment.

Key Takeaways

TG Therapeutics announced its Q1 2024 financial results, featuring $50.5 million in BRIUMVI U.S. net revenue, representing over 25% quarter-over-quarter growth. Total revenue reached $63.5 million, including a $12.5 million milestone payment. The company updated its full-year BRIUMVI U.S. net revenue guidance to $270 to $290 million.

BRIUMVI U.S. net revenue reached $50.5 million, exceeding expectations with over 25% quarter-over-quarter growth.

Total revenue for Q1 2024 was $63.5 million, including a $12.5 million milestone payment for BRIUMVI's EU launch.

Over 1,250 new BRIUMVI prescriptions were received by the TG hub, indicating strong demand.

Full-year BRIUMVI U.S. net revenue guidance was updated to $270 to $290 million.

Total Revenue
$63.5M
Previous year: $7.8M
+713.5%
EPS
-$0.07
Previous year: -$0.28
-75.0%
R&D Expense
$32.7M
Previous year: $15.9M
+106.2%
SG&A Expense
$34.6M
Previous year: $28.1M
+23.2%
Gross Profit
$58M
Previous year: $6.95M
+735.5%
Cash and Equivalents
$210M
Previous year: $140M
+50.2%
Total Assets
$373M
Previous year: $197M
+89.2%

TG Therapeutics

TG Therapeutics

TG Therapeutics Revenue by Segment

TG Therapeutics Revenue by Geographic Location

Forward Guidance

TG Therapeutics anticipates continued growth for BRIUMVI and is focused on expanding its clinical development programs.

Positive Outlook

  • Targeting Q2 2024 BRIUMVI U.S. net product revenue of approximately $65 million.
  • Updating BRIUMVI U.S. net product revenue target to approximately $270 million to $290 million for the full year 2024.
  • Commencing clinical development of subcutaneous BRIUMVI.
  • Commencing a clinical trial evaluating BRIUMVI in an additional autoimmune disease outside of multiple sclerosis (MS).
  • Commencing a clinical trial evaluating azer-cel in autoimmune disease.

Challenges Ahead

  • Potential regulatory challenges to the Company’s plans to seek marketing approval for the product in jurisdictions outside of the U.S.
  • The uncertainties inherent in research and development.
  • The risk that any individual patient’s clinical experience in the post-marketing setting, or the aggregate patient experience in the post-marketing setting, may differ from that demonstrated in controlled clinical trials such as ULTIMATE I and II.
  • The risk that the Company does not achieve its 2024 development pipeline anticipated milestones in the timeframe projected or at all.
  • General political, economic and business conditions.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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