TG Therapeutics announced its third-quarter 2024 financial results, reporting U.S. net product revenue for BRIUMVI of $83.3 million. This figure represents a substantial 15% quarter-over-quarter growth and over 230% growth compared to the same period last year. The company's net income for the three months ended September 30, 2024, was $3.9 million.
In response to this strong performance, TG Therapeutics raised its full-year 2024 U.S. net product revenue target for BRIUMVI to $300-$305 million, an increase from its previous guidance of $290-$300 million. As of September 30, 2024, the company maintained a solid cash position with $341.0 million in cash, cash equivalents, and investment securities.
The company also provided updates on its pipeline and manufacturing, including new five-year data from the ULTIMATE I & II Phase 3 trials showing 92% of patients were free from disability progression. Data from the ENHANCE Phase 3b trial indicated that rapid 30-minute BRIUMVI infusions are well tolerated, and patients can safely switch from prior anti-CD20 therapies. Furthermore, TG Therapeutics initiated a Phase 1 clinical trial for subcutaneous ublituximab, received FDA clearance for an Investigational New Drug (IND) application for azer-cel in progressive MS, and secured FUJIFILM Diosynth Biotechnologies as a secondary U.S.-based manufacturer for BRIUMVI.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.