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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.
TG Therapeutics
TG Therapeutics
TG Therapeutics Revenue by Segment
TG Therapeutics Revenue by Geographic Location
Revenue by Segment
BRIUMVI Revenue
CapyFin.comLic./Milestone/Other Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com 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