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Jun 30, 2024
TG Therapeutics Q2 2024 Earnings Report
TG Therapeutics' Q2 2024 financial results were reported, with U.S. BRIUMVI net revenue exceeding expectations and full-year guidance raised.
Key Takeaways
TG Therapeutics reported a strong second quarter in 2024, marked by exceeding expectations in U.S. BRIUMVI net revenue, leading to an increased full-year revenue guidance. The company also established a $250 million credit facility to manage debt and initiate a share repurchase program. R&D progress included the initiation of a phase 1 study for subcutaneous ublituximab and FDA IND clearance for azer-cel.
BRIUMVI U.S. net product revenue reached $72.6 million in Q2 2024, showing over 350% growth compared to Q2 2023.
Full year 2024 U.S. BRIUMVI net revenue target raised to approximately $290 - $300 million.
A new $250 million credit facility was established to repay debt and fund a share repurchase program of up to $100 million.
Phase 1 study initiated for subcutaneous ublituximab in RMS patients, and FDA IND clearance received for azer-cel in progressive MS patients.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
TG Therapeutics updated their BRIUMVI U.S. net product revenue target to approximately $290 to $300 million for the full year 2024 and anticipates several development milestones.
Positive Outlook
- Study BRIUMVI in an additional autoimmune disease outside of MS.
- Commence a clinical trial evaluating azer-cel in autoimmune diseases, starting with progressive MS.
- Present additional data from the ENHANCE Phase 3b CD20 switch trial.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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