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TG Therapeutics - $TGTX - Earnings Analysis: Significant increase in BRIUMVI sales driving revenue growth.

By sagebytes in Health —

Business Model

TG Therapeutics generates revenue primarily through the sale of BRIUMVI in the U.S. and through licensing and milestone payments from its partner, Neuraxpharm, for commercialization outside of the U.S.

Revenue Sources

  • BRIUMVI U.S. net product sales
  • License, milestone, royalty, and other revenue from Neuraxpharm

Income Statement Analysis

  • Product revenue increased significantly due to strong BRIUMVI sales, with approximately 148.84% increase from Q4 2023
  • Operating income improved significantly, shifting from a loss in Q4 2023 to a profit in Q4 2024 due to increased revenue
  • Net income turned positive in Q4 2024 compared to a net loss in Q4 2023.

Balance Sheet Analysis

  • Increase in cash, cash equivalents and investment securities indicates improved financial stability.
  • Increase in total assets reflects overall growth and investment in the company.
  • Increase in Total liabilities : Total assets minus Total equity = Total liabilities for 2024 355326000; Total assets minus Total equity = Total liabilities for 2023 169085000. An increase of 110.14%

Capital Allocation

TG Therapeutics is focused on reinvesting in its business through R&D (ublituximab subcutaneous development work and Precision BioSciences license agreement), commercialization of BRIUMVI, potential strategic acquisitions, and share repurchases. Generated cash flow from operations in 2024, a trend which is expected to continue in 2025.

Management Commentary

2024 was a year of significant outperformance and growth for TG, highlighted by the strong adoption of BRIUMVI for adult patients with relapsing forms of multiple sclerosis, which surpassed our initial expectations.

Additionally, we made meaningful progress in strengthening our BRIUMVI patent portfolio through 2042, launching new clinical trials, including for subcutaneous BRIUMVI, and advancing our pipeline.

Overall Sentiment: Positive, reflecting confidence in BRIUMVI's continued growth and the company's strategic initiatives.

Disclaimer: This analysis is based on company filings and public information. It is for informational purposes only and not financial advice. Past performance does not guarantee future results.