By Owen Tucker-Smith
Shares of TG Therapeutics rose after the company raised its guidance on better-than-expected sales of its multiple sclerosis drug.
Shares were up 7.7% Tuesday to $29.79. The stock is about 18% below its 52-week high of $36.84.
The company said Briumvi, its multiple sclerosis drug, brought in $103.6 million in the fourth quarter and $310 million in 2024. In November, the company said it expected between $300 million and $305 million from the drug for the year.
TG Therapeutics also said it expects total global revenue around $540 million in 2025. Briumvi will bring in $525 million in the U.S., a 69% jump from the drug's 2024 sales.
The company noted that in the coming year, it plans to enroll participants in an ongoing trial testing Briumvi in diseases outside of multiple sclerosis.
"We believe Briumvi is well positioned to continue to grow and provide value to patients and physicians," said Chief Executive Michael Weiss.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 14, 2025 15:51 ET (20:51 GMT)
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