TG Therapeutics' Q1 Profit Surge and BRIUMVI's Growth Signal Strong 2025 Outlook

TG Therapeutics (NASDAQ: TGTX) has delivered a pivotal quarter, reporting its first net income since 2023 and significantly raising its full-year revenue guidance for its multiple sclerosis (MS) drug BRIUMVI. The Q1 2025 results, marked by a $5.1 million net income versus a $10.7 million loss in the prior-year period, underscore a transformative shift in the company’s financial trajectory. BRIUMVI’s U.S. revenue surged to $119.7 million in the quarter—a 137% year-over-year jump—driving confidence in its potential to become a cornerstone of the MS treatment market.

BRIUMVI’s Clinical and Commercial Momentum
The drug’s performance is bolstered by robust clinical data. TG Therapeutics highlighted five-year trial results showing 92% of BRIUMVI-treated MS patients remained free from disability progression, with an annualized relapse rate of just 0.02 in year five. This durability positions BRIUMVI as a leading therapy for long-term disease management, a critical advantage in a market where adherence and sustained efficacy are paramount.

The company has capitalized on this momentum by revising its 2025 revenue guidance upward. Global revenue is now projected to reach $575 million, up from the prior estimate of $540 million, with U.S. BRIUMVI sales expected to hit $560 million (from $525 million). These increases reflect not only strong demand but also strategic investments in expanding its footprint.

Balancing Growth and Costs
Despite the revenue gains, TG Therapeutics faces rising expenses. R&D costs climbed to $46.4 million in Q1 2025, up from $32.7 million in Q1 2024, while selling, general, and administrative expenses rose to $50.3 million from $34.6 million. These increases reflect investments in advancing BRIUMVI’s subcutaneous formulation—a more patient-friendly delivery method—and bolstering commercial infrastructure.

However, the company’s financial flexibility remains intact. With $276.2 million in cash as of March 31, 2025, TG Therapeutics can sustain these initiatives while pursuing international partnerships. Notably, its collaboration with Neuraxpharm aims to secure EU regulatory approval for BRIUMVI, opening a market of over 1.3 million MS patients.

Why This Matters for Investors
The Q1 results and updated guidance paint a compelling picture of a company transitioning from survival mode to growth mode. BRIUMVI’s combination of strong clinical outcomes and rapid adoption in the U.S. market suggests it could capture a significant share of the $20 billion global MS drug market. The five-year data further reduces long-term risk for patients and payers, a key factor in sustaining demand.

While rising expenses are a near-term concern, they are strategically allocated to initiatives with high upside potential. The subcutaneous formulation, if approved, could eliminate the need for infusion centers, expanding BRIUMVI’s accessibility. Meanwhile, the EU partnership could add hundreds of millions in revenue by the late 2020s.

Conclusion
TG Therapeutics’ Q1 results and revised guidance mark a critical inflection point. With BRIUMVI’s proven efficacy, a growing revenue stream, and a cash position that supports its ambitious plans, the company is well-positioned to capitalize on its leading-edge MS therapy. While operational expenses remain elevated, the 137% year-over-year revenue growth and the revised $575 million global guidance suggest that BRIUMVI’s best days lie ahead.

For investors, the stock’s upward trajectory—bolstered by strong fundamentals and a pipeline of strategic moves—is a vote of confidence in TG’s ability to deliver sustained growth. As BRIUMVI’s five-year data reinforces its long-term value, the path to long-term profitability for TG Therapeutics appears clearer than ever.