By Robb M. Stewart
TG Therapeutics Is targeting a further jump in revenue this year after swinging to a profit in the latest quarter with higher sales of its flagship treatment for relapsing forms of multiple sclerosis.
The commercial-stage biopharmaceutical company swung to a profit of $23.3 million, or 15 cents a share, from a year-earlier loss of $14.4 million, or 10 cents a share. Analysts polled by FactSet had penciled in per-share earnings of 16 cents for the quarter.
Revenue more than doubled to $108.2 million from $44 million in the same period last year.
Product revenue for the quarter totaled $107.3 million, primarily reflecting $103.6 million in sales of Briumvi, a monoclonal antibody used as a multiple sclerosis treatment.
A monoclonal antibody is a type of protein that can bind to certain targets in the body. Multiple sclerosis is a long-lasting disease of the central nervous system.
TG Therapeutics is targeting global revenue in 2025 of about $540 million, including Briumvi U.S. product revenue of roughly $525 million. Analysts were expected revenue this year of $534.4 million, after the company recorded 2024 revenue of $329 million.
Full-year operating expense is expected to be about $300 million, excluding non-cash compensation, the company said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
March 03, 2025 07:47 ET (12:47 GMT)
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