TG Therapeutics(TGTX) - 2024 Q4 - Annual Results

Revenue Growth - BRIUMVI U.S. net product revenue reached $103.6 million in Q4 2024 and $310 million for the full year, representing approximately 250% year-over-year growth[5] - The company targets approximately $540 million in total global revenue for 2025, including an estimated $525 million from BRIUMVI U.S. net product revenue[5] - TG Therapeutics reported total revenue of $108.185 million for Q4 2024, a significant increase of 146.5% compared to $43.971 million in Q4 2023[38] - Product revenue for Q4 2024 reached $107.347 million, up 148.5% from $43.137 million in the same quarter last year[38] - For the full year 2024, total revenue was $329.004 million, representing a 40.6% increase from $233.662 million in 2023[38] Financial Performance - The company reported a net income of $23.3 million for Q4 2024, compared to a net loss of $14.4 million in Q4 2023[6] - The company achieved a net income of $23.330 million in Q4 2024, compared to a net loss of $14.416 million in Q4 2023[38] - Cash, cash equivalents, and investment securities totaled $311.0 million as of December 31, 2024[6] - Cash, cash equivalents, and investment securities increased to $311.001 million as of December 31, 2024, up from $217.508 million a year earlier[39] - Total assets rose to $577.690 million in 2024, compared to $329.587 million in 2023[39] - The company’s total equity increased to $222.364 million in 2024, up from $160.502 million in 2023[39] Expenses - Total research and development expenses for Q4 2024 were approximately $23.9 million, up from $17.4 million in Q4 2023[6] - Research and development expenses for Q4 2024 were $23.874 million, compared to $17.449 million in Q4 2023, reflecting a 36.5% increase[38] - Selling, general and administrative expenses for Q4 2024 were approximately $39.0 million, compared to $31.2 million in Q4 2023[6] - Selling, general and administrative expenses for Q4 2024 totaled $38.963 million, an increase of 25.2% from $31.152 million in Q4 2023[38] Product Development - The company obtained three additional patents for BRIUMVI, extending patent protection through 2042[5] - Five-year data from Phase 3 trials showed that 92% of patients were free from disability progression after five years of BRIUMVI treatment[5] - The company launched a Phase 1 trial for subcutaneous ublituximab in patients with relapsing forms of multiple sclerosis[5] - The company entered into a global license agreement with Precision BioSciences for the development of an allogeneic CD19 CAR T therapy program[5] - TG Therapeutics has received regulatory approvals for BRIUMVI® in the U.S., EU, and UK for treating relapsing forms of multiple sclerosis, indicating strong market potential[30]