TG Therapeutics (TGTX) stock soared over 5% in the pre-market session on Tuesday, following the company's release of robust financial results for 2024 and promising updates regarding its lead product BRIUMVI and pipeline candidates.

TG Therapeutics reported strong revenue growth for its multiple sclerosis drug BRIUMVI, with U.S. net sales reaching $310 million for the full year 2024, exceeding the company's initial guidance. In the fourth quarter, BRIUMVI's U.S. net sales stood at $103.6 million, marking a 24% increase quarter-over-quarter and a 160% year-over-year growth.

The company's financial performance was further bolstered by the presentation of positive long-term data for BRIUMVI at recent medical conferences. The data showed that after five years of treatment, 92% of patients were free from disability progression, with an annualized relapse rate of just 0.02, highlighting the drug's sustained efficacy and safety profile.

Additionally, TG Therapeutics announced promising developments regarding a subcutaneous formulation of BRIUMVI, which could potentially expand the drug's market opportunity. Preliminary bioavailability studies suggested that the subcutaneous formulation might enable less frequent dosing, administered every two or three months, compared to the current monthly regimen for self-administered subcutaneous treatments. The company aims to commence a pivotal trial for the subcutaneous formulation around mid-2025.

TG Therapeutics also reported well-controlled operating expenses for 2024, coming in below the guided ranges. The company achieved profitability, reporting a GAAP net income of approximately $23 million, or $0.15 per diluted share, for both the fourth quarter and full year 2024. With a strong cash position of $311 million at the end of 2024, TG Therapeutics is well-positioned to support its commercial and research and development efforts.

Looking ahead to 2025, the company provided robust revenue guidance, estimating $525 million in U.S. BRIUMVI net sales, reflecting the continued momentum and growth prospects for its lead product.