TG Therapeutics (NasdaqCM:TGTX) FY Conference Transcript

TG Therapeutics FY Conference Summary Company Overview - Company: TG Therapeutics (NasdaqCM:TGTX) - Product: Briumvi, an anti-CD20 therapy for multiple sclerosis (MS) - Market Presence: Briumvi has been on the market for approximately 2.75 years, with a revenue target of $585 million for the current year [4][4] Financial Performance - Revenue Target: $585 million for FY 2025, with expectations for significant growth in FY 2026 [4][4] - Future Guidance: No specific guidance provided for next year, but anticipated to be a larger number than the current year [4][4] Market Dynamics - CD20 Market Share: Briumvi captures approximately 20% share among the CD20 class and about 10% share among all new MS starts [11][12] - Patient Awareness: Patient awareness was around 35% previously, with plans to double this over the next one to two years [19][19] Sales Strategy - Sales Force Expansion: TG Therapeutics plans to expand its sales force strategically, focusing on underperforming areas rather than a broad geographical expansion [25][27] - Community vs. Hospital Practices: The company is currently the second most prescribed in community settings and aims to become the number one in that category [26][26] Product Development - Subcutaneous (Sub-Q) Program: The Sub-Q program is progressing well, with enrollment expected to complete in the first half of next year and data anticipated by the end of next year [5][38] - Formulation and Patents: The new Sub-Q formulation is highly concentrated, with provisional patents filed that could extend protection until 2045 [42][42] Competitive Landscape - Azer-cel and Cell Therapies: The company is optimistic about the potential of cell therapies but acknowledges that current advancements are not yet transformative for patients with progressive forms of MS [50][51] - Market Positioning: TG Therapeutics aims to achieve parity coverage with competitors upon the launch of the Sub-Q formulation, expected in 2028 [45][45] Challenges and Considerations - Gross-to-Net Spread: The gross-to-net spread may be affected by 340B discounts, particularly in the hospital segment [33][33] - Resource Management: The company believes it can manage the expansion of its commercial and R&D efforts without significant strain, utilizing outsourcing for R&D as needed [59][60] Key Takeaways - TG Therapeutics is focused on increasing market share and patient awareness for Briumvi while strategically expanding its sales force - The company is optimistic about the future growth of its Sub-Q program and the potential of cell therapies - Resource management strategies are in place to handle potential growth in both commercial and R&D sectors without compromising execution quality [59][60]