Why Is Multiple Sclerosis-Focused TG Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
TG Therapeutics Inc (NASDAQ:TGTX) reported Q4 2023 revenues of $43.97 million, surpassing the consensus of $40.06 million, driven by strong Briumvi U.S. net product revenue of $39.9 million. The company received European Commission approval for Briumvi, partnering with Neuraxpharm for ex-U.S. commercialization. With the successful launch of Briumvi in Europe and additional patents extending protection through 2042, TG Therapeutics forecasts FY 2024 Briumvi U.S. net product revenue of $220 million to $260 million. Shares surged 26.4% to $17.58.
February 28, 2024 | 6:20 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
TG Therapeutics reported higher than expected Q4 2023 revenues, primarily due to Briumvi's performance. The company also announced a partnership for Briumvi's commercialization in Europe and provided a positive revenue forecast for FY 2024.
The positive earnings report, exceeding consensus estimates, and the successful launch and commercialization plans for Briumvi, both in the U.S. and Europe, significantly contribute to investor optimism. The additional patents extending Briumvi's protection and the projected revenue growth for FY 2024 further bolster the positive outlook for TGTX, leading to a substantial increase in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100