The shares of drug maker TG Therapeutics (TGTX) are climbing 9% today after the firm preannounced higher-than-expected 2024 revenue from its multiple sclerosis drug, Briumvi.

Briumvi's 2024 Revenue Exceeded TG's Guidance

The company estimated today that its 2024 revenue from the MS treatment had come in at $310 million. When TGTX reported its third-quarter results in November, it predicted that the drug would generate sales of $300 million to $305 million for all of 2024.

A scientist in the lab, researching the development of biopharmaceutical monoclonal antibody drugs.

The company noted that it had ended 2024 with $310 million in cash.

TG Therapeutics' 2025 Guidance and Comments

TG predicted that it would generate $540 million of revenue in 2025, of which $525 million will come from Briumvi. Analysts, on average, had expected the firm's top line to come in at $538 million this year.

"On the development front we were excited to provide an update on our subcutaneous (Briumvi) work, which should allow us to commence a pivotal program in 2025 evaluating a self-administered subcutaneous product with an expected dosing frequency of least every other month," CEO Michael Weiss said in a statement.

The Price Action of TG Stock

In the last month the shares have fallen 10%, despite today's rally. However, they have advanced 23% in the previous three months.

While we acknowledge the potential of TGTX, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TGTX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey