The most recent business update and financial results announcement from TG Therapeutics, Inc. (NASDAQ: TGTX) is driving the share price higher on the charts. As of the most recent check today, TGTX stock was trading at $34.79, with a 15.62% rise.
Strong Revenue Growth
TG Therapeutics reported net product revenue of approximately $313.7 million for the full year, ending on December 31, 2024, and $107.3 million for the fourth quarter. Sales of BRIUMVI in the US were the primary driver of this revenue, which was $103.6 million in the fourth quarter and $310.0 million for the whole year—a remarkable 250% year-over-year rise.
Growth and Enhanced Patent Portfolio
The high level of acceptability of BRIUMVI among adult patients with relapsing forms of multiple sclerosis has been credited with TG Therapeutics’ remarkable performance over the past 12 months. By launching BRIUMVI in a number of EU and UK nations, TG Therapeutics expanded its worldwide market reach in partnership with Neuraxpharm. The company’s strategy goal to improve accessibility and spur further growth is in line with the expansion.
Research and Clinical Developments
Clinical research has advanced significantly thanks to TG Therapeutics, especially with the continued development of BRIUMVI. The release of five-year results from the open-label extension study of the ULTIMATE I & II Phase 3 trials marked a significant turning point. With an annualized relapse rate of 0.02 in year five, the results showed that 92% of patients were still free from disability progression after five years of therapy.
Additionally, the study verified that no new unfavorable signals appeared with extended therapy, and the safety profile was stable. The business also recruited patients with Myasthenia Gravis in another Phase 1 research and started a Phase 1 trial assessing subcutaneous ublituximab for relapse multiple sclerosis.
Strategic Collaboration and Prospects
In an attempt to broaden its therapeutic offerings, TG Therapeutics and Precision BioSciences, Inc. inked a global licensing agreement for the development and marketing of Precision’s allogeneic CD19 CAR T therapy product, azercabtagene zapreleucel (azer-cel). With a strong pipeline, important partnerships, and strong financial results, TG Therapeutics is well-positioned for continued success as it works toward developing innovative treatments for autoimmune diseases.