TG Therapeutics stock skyrocketed Monday after the biotech company handily beat Wall Street's fourth-quarter sales expectations and issued a bullish outlook for 2025.
The company is well known for its multiple sclerosis treatment, Briumvi. During the fourth quarter and 2024, Briumvi brought in a respective $103.6 million and $310 million in sales. Sales soared roughly 250% year over year, TG said in a news release.
Both measures easily topped expectations. Analysts polled by FactSet called for $99.5 million in fourth-quarter sales and $305.9 million for the year.
For the current year, TG expects Briumvi to generate $540 million in sales, ahead of forecasts for $534.4 million.
TG Therapeutics stock rocketed 14.4% to 34.42. Shares bounded off their 50-day moving average and are closing in on a buy point at 36.84 out of a consolidation, according to MarketSurge. Shares also just landed on IBD's Leaderboard.
TG Therapeutics Stock: Taking On Roche, Novartis
Briumvi treats relapsing forms of multiple sclerosis. In this condition, patients experience episodes of numbness or tingling, muscle weakness, balance problems and fatigue. Relapsing MS includes periods of worsening symptoms followed by periods of recovery.
It competes against Roche's Ocrevus and Novartis' Kesimpta. Patients start with two loading doses of Briumvi two weeks apart. From there, they receive hourlong infusions every six months. Ocrevus infusions, on the other hand, can take two hours or longer to complete.
TG is also working on a subcutaneous — or under-the-skin — shot of Briumvi. Kesimpta is given as a once-a-month subcutaneous injection. But TG is angling to get that down to every other month. Roche is also testing an under-the-skin shot of Ocrevus.
Briumvi is still the smallest of the three, but it's growing rapidly. In the fourth quarter, Ocrevus brought in $1.86 billion in sales. But sales fell roughly 1%, excluding the impact of exchange rates. Kesimpta generated $950 million, up more than 48% year over year.
2025 Guidance Appears Conservative
Notably, TG Therapeutics also guided to $115 million in first-quarter U.S. sales of Briumvi.
"As we write this note, the stock is up +15%, likely due to the very positive commentary/body language on future sales growth," Evercore ISI analyst Michael DiFiore said in a report.
TG announced in January and February it had enrolled the highest-ever number of new patients for Briumvi. This puts the drug on track to meet or exceed their full-year 2025 guidance. But DiFiore says this is likely conservative "given the degree to which TGTX beat their initial FY'24 guidance (by ~$70M)."
He reiterated his outperform rating on TG Therapeutics stock.
Follow Allison Gatlin on X/Twitter at @AGatlin_IBD.
