TGTX Down as Q2 Earnings Miss Mark, Briumvi Sales Drive Top Line

Core Insights - TG Therapeutics (TGTX) reported Q2 2025 earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.32, compared to $0.04 per share in the same quarter last year [1][6] - Revenues for Q2 reached $141.1 million, a nearly 92% increase year over year, driven by strong demand for Briumvi, surpassing the Zacks Consensus Estimate of $136 million [1][6] Revenue and Sales Performance - Briumvi's net product sales in the U.S. were $138.8 million in Q2, reflecting a 91% year-over-year increase and a 16% sequential increase [4][6] - License, milestone, royalty, and other revenues amounted to $2.3 million in the reported quarter, up from $0.9 million in the year-ago quarter [4] Financial Guidance - TG Therapeutics raised its 2025 revenue guidance to approximately $585 million, up from the previous expectation of $575 million, with Briumvi net product sales projected between $570 million and $575 million in the U.S. [9] - Operating expenses for 2025 are expected to remain around $300 million, unchanged from previous guidance [10] Research and Development - Ongoing studies for Briumvi are targeting other autoimmune diseases, with plans to begin patient enrollment for a phase III pivotal program for subcutaneous Briumvi in RMS later in 2025 [11] - The company is also developing azer-cel, an allogeneic CD19-directed CAR T cell therapy, currently in a phase I study for primary progressive multiple sclerosis [12] Market Reaction - Shares of TG Therapeutics fell 18% on August 4, likely due to the mixed earnings announcement [2] - The stock has declined 4.6% year to date, contrasting with a 0.2% increase in the industry [3]