What's Going On With TG Therapeutics Stock Tuesday?

TG Therapeutics Inc TGTX shares are trading higher. The company on Tuesday provided guidance for the fourth quarter and full-year 2024.

What Happened: TG Therapeutics issued preliminary U.S. net product revenue for BRIUMVI, as well as financial guidance and development milestones for 2025 at the J.P Morgan Healthcare Conference on Monday. BRIUMVI is a novel monoclonal antibody that targets a unique epitope on CD20-expressing B-cells.

The company said it expects fourth-quarter BRIUMVI net product revenue in the U.S. to be $103.6 million, while full-year BRIUMVI revenue is expected to total $310 million. TG Therapeutics noted that it expects to report a 2024 year-end cash position of approximately $310 million.

“We believe BRIUMVI is well positioned to continue to grow and provide value to patients and physicians. On the development front we were excited to provide an update on our subcutaneous BRIUMVI work, which should allow us to commence a pivotal program in 2025 evaluating a self-administered subcutaneous product with an expected dosing frequency of least every other month, a product profile we believe will be attractive to patients and healthcare providers,” said Michael Weiss, chairman and CEO of TG Therapeutics.

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TG Therapeutics also introduced 2025 financial targets including full-year 2025 total global revenue of approximately $540 million, which includes BRIUMVI U.S. net product revenue of about $525 million. The company is targeting 2025 operating expenses of approximately $300 million.

TG Therapeutics noted that anticipated 2025 development milestones include the commencement of the pivotal program of subcutaneous BRIUMVI, the enrolling of participants into the ongoing trial evaluating BRIUMVI in autoimmune diseases outside of Multiple Sclerosis, the enrolling of participants into the Phase 1 azer-cel trial in autoimmune disease and a presentation of updated data at major medical conferences.

TGTX Price Action: TG Therapeutics shares were up 7.8% at $29.85 at the time of publication, according to Benzinga Pro.

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