TG Therapeutics' Q4 2024: Unraveling Contradictions in Trial Designs, Market Share, and Revenue Projections

These are the key contradictions discussed in TG Therapeutics' latest 2024 Q4 earnings call, specifically including: Subcutaneous Trial Design and Timelines, Market Share Expectations, BRIUMVI Market Share and Uptake Expectations, and VA Contract Revenue Impact:



Revenue Growth and Market Performance:
- TG Therapeutics reported full-year 2024 U.S. revenues of $310 million, far exceeding their target guidance, reflecting a 250% growth compared to 2023.
- The growth was primarily driven by the value BRIUMVI brings to patients, as well as significant progress in clinical trials and data presentations.

Product and Market Expansion:
- The company expanded its geographical reach internationally with BRIUMVI, launching in Germany and multiple EU countries through a partnership with Neuraxpharm.
- This expansion contributed to the increase in BRIUMVI's global impact and market penetration.

Clinical and Pipeline Progress:
- TG Therapeutics achieved several milestones, including the launch of a new cohort in the ENHANCE study and the commencement of a Phase I trial for azer-cel in progressive forms of MS.
- These advancements are part of the company's strategy to enhance BRIUMVI's label and explore new autoimmune disease treatment opportunities.

Financial Stability and Outlook:
- TG Therapeutics reported a GAAP net income of $23 million for both the third and fourth quarters of 2024, indicating strong financial health.
- The company ended the year with $311 million in cash and cash equivalents, providing a solid financial foundation for future investments.