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Sep 30, 2024
TG Therapeutics Q3 2024 Earnings Report
TG Therapeutics reported Q3 2024 financial results, highlighting BRIUMVI's strong performance and raised full-year revenue guidance.
Key Takeaways
TG Therapeutics reported a successful third quarter in 2024, driven by strong U.S. BRIUMVI net revenue of $83.3 million. The company raised its full-year 2024 U.S. BRIUMVI net revenue target to $300 - $305 million and continues to advance its clinical programs.
BRIUMVI U.S. net product revenue reached $83.3 million in Q3 2024, reflecting approximately 15% quarter-over-quarter growth and over 230% growth from the same quarter last year.
The company raised its full-year 2024 U.S. BRIUMVI net revenue target to $300 to $305 million.
Updated data from the ULTIMATE I & II Phase 3 trials showed 92% of patients were free from disability progression after five years of BRIUMVI treatment.
A phase 1 clinical trial evaluating subcutaneous ublituximab in RMS was initiated.
TG Therapeutics
TG Therapeutics
Forward Guidance
TG Therapeutics raised its full year 2024 U.S. BRIUMVI net product revenue target to $300 to $305 million and anticipates several development pipeline milestones.
Positive Outlook
- Continued strong commercial launch of BRIUMVI.
- Potential for continued growth into the end of the year and into 2025.
- Focus on improving the treatment experience for individuals living with relapsing forms of multiple sclerosis.
- Advancement of clinical programs, including shortening infusion times and developing a subcutaneous BRIUMVI option.
- Development of novel treatments such as allogeneic CD19 CAR-T.
Challenges Ahead
- Risks associated with maintaining a commercial infrastructure for BRIUMVI.
- Potential failure to obtain and maintain payor coverage.
- Uncertainties inherent in research and development.
- Reliance on third parties for manufacturing, distribution, and supply.
- Potential regulatory challenges in seeking marketing approval outside of the U.S.