NEW YORK - TG Therapeutics, Inc. (NASDAQ:TGTX), a biopharmaceutical company with impressive gross profit margins of 88%, disclosed preliminary net product revenue for its drug BRIUMVI® in the U.S. for the fourth quarter and the entire year of 2024, which amounted to $103.6 million and $310 million, respectively. This represents significant growth, with the company's revenue increasing by nearly 40% over the last twelve months. The announcement was made during a presentation at the 43rd Annual J.P. Morgan Healthcare Conference.
The company's end-of-year cash position stood at approximately $310 million, supporting a strong liquidity position with current assets exceeding short-term obligations by more than 4.5 times. These figures are based on unaudited financial information and are subject to adjustment following the completion of financial closing procedures. According to InvestingPro analysis, TG Therapeutics is currently trading at Fair Value, with 11 additional exclusive insights available to subscribers.
Looking ahead, TG Therapeutics has set a target total global revenue for the full year 2025 at approximately $540 million, with U.S. net product revenue for BRIUMVI expected to contribute about $525 million. The anticipated operating expense for the same period is around $300 million. With a market capitalization of approximately $4 billion and analyst price targets ranging from $10 to $55, investors can access detailed valuation analysis and growth projections through InvestingPro's comprehensive research reports, available for over 1,400 US stocks.
The development pipeline for 2025 includes several milestones, such as the commencement of a pivotal program for a subcutaneous version of BRIUMVI and the launch of pivotal trials to optimize the intravenous administration of the drug for patients with relapsing forms of multiple sclerosis (RMS). Additionally, the company plans to enroll patients in ongoing trials for autoimmune diseases beyond MS and a Phase 1 trial of their allogeneic CD19-directed CAR-T therapy, azer-cel, for progressive MS.
BRIUMVI is a monoclonal antibody designed for the management of autoimmune disorders like RMS. The drug functions by targeting CD20-expressing B-cells and is engineered to deplete these cells at low doses efficiently.
The safety profile of BRIUMVI includes warnings about potential infusion reactions, infections, and reactivation of Hepatitis B Virus (HBV). The drug is contraindicated in patients with active HBV infection or those who have experienced life-threatening infusion reactions to BRIUMVI.
TG Therapeutics is a commercial-stage biopharmaceutical company focusing on B-cell diseases. The company has received FDA approval for BRIUMVI in the U.S. and approvals in Europe and the United Kingdom (TADAWUL:4280) for the treatment of adult patients with RMS.
The information presented in this article is based on a press release statement from TG Therapeutics, Inc.
In other recent news, TG Therapeutics reported a noteworthy increase in third-quarter revenues, reaching $83.9 million and surpassing analyst expectations. The company's GAAP earnings per share (EPS) for the quarter were $0.02, while the non-GAAP EPS was $0.10. H.C. Wainwright, in response to these results, raised its TG Therapeutics price target from $49.00 to $55.00, maintaining a Buy rating.
Research and development expenses for the same period increased to $17.1 million, while selling, general, and administrative expenses rose to $33.2 million. In other developments, TG Therapeutics' flagship product, BRIUMVI, reported US net sales of $83.3 million, reflecting a significant 230% year-over-year growth. As a result, the company has increased its full-year sales guidance for BRIUMVI to between $300 million and $305 million.
Other recent developments include the exploration of a 30-minute infusion method for BRIUMVI, the development of a subcutaneous version, and an expansion of commercialization efforts. H.C. Wainwright expects TG Therapeutics' full-year 2024 revenues to be $317.1 million with a GAAP EPS of $0.07 and a non-GAAP EPS of $0.34. Lastly, long-term follow-up from ULTIMATE I & II and ENHANCE trials showed 92% of patients free from disability progression after five years.
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