TG Therapeutics (NASDAQ: NASDAQ:TGTX) shares climbed 14% after the company reported fourth-quarter earnings that surpassed analyst expectations and showed significant revenue growth. The biopharmaceutical firm announced its financial results for the fourth quarter and full year ended December 31, 2024, which included a positive earnings per share (EPS) and a substantial increase in revenue.
The company reported a Q4 EPS of $0.15, which was $0.07 higher than the analyst estimate of $0.08. Revenue for the quarter came in at $108.19 million, outpacing the consensus estimate of $97.66 million. This performance is particularly notable when compared to the same quarter last year, representing approximately 250% growth YoY.
TG Therapeutics’ Chairman and Chief Executive Officer, Michael S. Weiss, commented on the results and the company’s progress. "2024 was a year of significant outperformance and growth for TG, highlighted by the strong adoption of BRIUMVI for adult patients with relapsing forms of multiple sclerosis, which surpassed our initial expectations," said Weiss.
The company’s net product revenue from BRIUMVI in the U.S. for the fourth quarter was $103.6 million, contributing to a full-year total of $310 million. Looking ahead, TG Therapeutics has set a target for approximately $540 million in total global revenue for 2025, with BRIUMVI U.S. net product revenue expected to be around $525 million.
The growth has been further supported by the expansion of BRIUMVI’s patent protection through 2042, the launch in Europe through a partnership with Neuraxpharm, and positive data presentations. The company has also made strides in its development pipeline, including launching new clinical trials and entering a global license agreement for a CAR T therapy program.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.