TG Therapeutics Surpasses Revenue Guidance and Delivers Strong Q4 Results Amid Exciting Business Milestones
TG Therapeutics, a biotechnology company focused on developing and commercializing innovative therapies for diverse patient populations, has reported outstanding fourth-quarter (Q4) and full-year 2024 financial results, exceeding its targeted revenue guidance.
The company's full-year 2024 U.S. revenues of $310 million significantly outperformed its initial projections, demonstrating the substantial value that BRIUMVI, its marketed product, brings to patients living with multiple sclerosis (MS). This remarkable achievement underscores TG Therapeutics' dedication to providing high-quality treatments that make a meaningful difference in patient care.
During 2024, the company made significant progress across various business areas. Key highlights include launching and enrolling clinical trials aimed at enhancing the patient experience on BRIUMVI. These efforts led to the presentation of multiple data sets throughout the year, culminating in the update of the ENHANCE study at the prestigious ECTRIMS conference.
The updated data from the 30-minute cohort in the ENHANCE trial demonstrated a consistent safety and tolerability profile, with over 80 patients treated with this shorter infusion duration. Furthermore, an independent presentation by Dr. John Foley from the Rocky Mountain Multiple Sclerosis Clinic showcased real-world experience data from over 160 MS patients treated with BRIUMVI. Notably, in a subset of 19 patients previously treated with OCEVUS who experienced a wearing off effect between infusions, 16 (or 85%) did not report this issue while on BRIUMVI.
TG Therapeutics' commitment to delivering exceptional value to its stakeholders and patients is evident in its robust financial performance. As reported by Sean Power, the company's Chief Financial Officer, the full-year 2024 U.S. revenues of $310 million exceeded initial guidance, reflecting the significant impact BRIUMVI has on patient care.
In his address at the ECTRIMS conference, Michael Weiss, Chairman and Chief Executive Officer, expressed gratitude for the overwhelmingly positive feedback on BRIUMVI and the TG Therapeutics team. He emphasized that these interactions reinforce the company's mission to make a real difference in patient experiences, especially those with challenging MS cases.
The remarkable revenue growth, coupled with significant business milestones achieved during 2024, positions TG Therapeutics for continued success in the competitive biotech landscape. As the company continues to drive innovation and improvement in its marketed products, it remains committed to delivering exceptional value to patients and investors alike."
