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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.