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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.
Revenue by Segment
Revenue by Geographic Location
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.
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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