By Katherine Hamilton
Shares of TG Therapeutics shares rose after it swung to a profit in the fourth quarter.
The stock climbed 17% to $35.27 in midday trading on Monday. Shares have almost doubled in the past year.
The biopharmaceutical posted a profit of $23.3 million, or 15 cents a share, compared with a loss of $14.4 million, or 10 cents a share, the prior year.
Revenue more than doubled to $108.2 million. Analysts polled by FactSet expected $100.7 million.
Annual revenue from its Briumvi product, a B-cell therapy for people with multiple sclerosis, more than tripled year over year.
In 2025, TG expects global revenue to be $540 million, ahead of analysts' expectations of $534.4 million.
TG also said Monday that new data from Phase 3 trials of Briumvi showed 92% of patients did not have MS progression after five years of treatment.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 03, 2025 12:13 ET (17:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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