Why Is Multiple Sclerosis Focused TG Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
TG Therapeutics reported Q3 FY23 Briumvi sales of $25.1 million, up from $16 million in Q2 FY23. Total net product revenue since launch is approximately $48.9 million. Overall revenues reached $165.8 million, including a license revenue of $140 million from Neuraxpharm. The company reported a Q3 EPS of 73 cents compared to a loss of 26 cents a year ago. The FDA approved Briumvi in January 2023 for relapsing forms of multiple sclerosis. The company's cash position stood at $229.2 million. TGTX shares were up 31.5% at $10.16.
November 01, 2023 | 6:11 pm
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POSITIVE IMPACT
TG Therapeutics reported strong Q3 FY23 results with increased Briumvi sales and overall revenues. The FDA approval for Briumvi for multiple sclerosis also adds to the positive outlook. The company's stock was up 31.5%.
The strong Q3 FY23 results, increased Briumvi sales, and FDA approval for Briumvi for multiple sclerosis are positive news for TG Therapeutics. This has resulted in a significant increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100