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Jun 30, 2023
TG Therapeutics Q2 2023 Earnings Report
TG Therapeutics reported second quarter 2023 financial results, highlighted by BRIUMVI net sales of $16 million and a strengthened cash position.
Key Takeaways
TG Therapeutics reported its Q2 2023 results, marking the first full quarter of BRIUMVI sales which reached $16 million. The company also announced an agreement with Neuraxpharm for ex-U.S. commercialization of BRIUMVI and secured a pro-forma cash balance of approximately $285 million.
BRIUMVI net sales reached $16 million in the U.S. during the second quarter of 2023.
Over 1,200 BRIUMVI prescriptions have been written since launch from 340+ healthcare providers.
Payor coverage is secured for approximately 80% of covered lives for BRIUMVI.
An agreement with Neuraxpharm was established for ex-U.S. commercialization of BRIUMVI, strengthening the balance sheet.
Forward Guidance
TG Therapeutics anticipates that its cash, cash equivalents and investment securities as of June 30, 2023, combined with the upfront payment of $140.0 million received as part of their ex-U.S. commercialization agreement and projected revenues associated with the sale of BRIUMVI in the U.S. and ex-U.S., will be sufficient to fund their planned operations for the foreseeable future.
Positive Outlook
- Continue to build upon the U.S. commercial launch of BRIUMVI in RMS
- Continue to increase access to BRIUMVI
- Continue to generate and present additional clinical trial data for BRIUMVI in RMS
Historical Earnings Impact
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Avg. Return Before/After Earnings
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