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TG Therapeutics(TGTX) - 2024 Q4 - Annual Results
TGTXTG Therapeutics(TGTX)2025-03-03 12:19

Revenue Growth - BRIUMVI U.S. net product revenue reached 103.6millioninQ42024and103.6 million in Q4 2024 and 310 million for the full year, representing approximately 250% year-over-year growth[5] - The company targets approximately 540millionintotalglobalrevenuefor2025,includinganestimated540 million in total global revenue for 2025, including an estimated 525 million from BRIUMVI U.S. net product revenue[5] - TG Therapeutics reported total revenue of 108.185millionforQ42024,asignificantincreaseof146.5108.185 million for Q4 2024, a significant increase of 146.5% compared to 43.971 million in Q4 2023[38] - Product revenue for Q4 2024 reached 107.347million,up148.5107.347 million, up 148.5% from 43.137 million in the same quarter last year[38] - For the full year 2024, total revenue was 329.004million,representinga40.6329.004 million, representing a 40.6% increase from 233.662 million in 2023[38] Financial Performance - The company reported a net income of 23.3millionforQ42024,comparedtoanetlossof23.3 million for Q4 2024, compared to a net loss of 14.4 million in Q4 2023[6] - The company achieved a net income of 23.330millioninQ42024,comparedtoanetlossof23.330 million in Q4 2024, compared to a net loss of 14.416 million in Q4 2023[38] - Cash, cash equivalents, and investment securities totaled 311.0millionasofDecember31,2024[6]−Cash,cashequivalents,andinvestmentsecuritiesincreasedto311.0 million as of December 31, 2024[6] - Cash, cash equivalents, and investment securities increased to 311.001 million as of December 31, 2024, up from 217.508millionayearearlier[39]−Totalassetsroseto217.508 million a year earlier[39] - Total assets rose to 577.690 million in 2024, compared to 329.587millionin2023[39]−Thecompany’stotalequityincreasedto329.587 million in 2023[39] - The company’s total equity increased to 222.364 million in 2024, up from 160.502millionin2023[39]Expenses−TotalresearchanddevelopmentexpensesforQ42024wereapproximately160.502 million in 2023[39] Expenses - Total research and development expenses for Q4 2024 were approximately 23.9 million, up from 17.4millioninQ42023[6]−ResearchanddevelopmentexpensesforQ42024were17.4 million in Q4 2023[6] - Research and development expenses for Q4 2024 were 23.874 million, compared to 17.449millioninQ42023,reflectinga36.517.449 million in Q4 2023, reflecting a 36.5% increase[38] - Selling, general and administrative expenses for Q4 2024 were approximately 39.0 million, compared to 31.2millioninQ42023[6]−Selling,generalandadministrativeexpensesforQ42024totaled31.2 million in Q4 2023[6] - Selling, general and administrative expenses for Q4 2024 totaled 38.963 million, an increase of 25.2% from $31.152 million in Q4 2023[38] Product Development - The company obtained three additional patents for BRIUMVI, extending patent protection through 2042[5] - Five-year data from Phase 3 trials showed that 92% of patients were free from disability progression after five years of BRIUMVI treatment[5] - The company launched a Phase 1 trial for subcutaneous ublituximab in patients with relapsing forms of multiple sclerosis[5] - The company entered into a global license agreement with Precision BioSciences for the development of an allogeneic CD19 CAR T therapy program[5] - TG Therapeutics has received regulatory approvals for BRIUMVI® in the U.S., EU, and UK for treating relapsing forms of multiple sclerosis, indicating strong market potential[30]