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TG Therapeutics Skyrockets 28% as Quarterly Revenue, Outlook Beat Estimates

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Luzi Ann Santos wrote a column · Feb 28 10:06
$TG Therapeutics(TGTX.US)$ skyrocketed 28% after the biotech company reported better-than-expected net loss for fourth quarter and exceeded both the quarterly revenue and the outlook for 2024.
The company said fourth quarter loss narrowed to 9 cents a share from 39 cents a year earlier. That's smaller than the 11 cents expected by analysts polled by Capital IQ, according to MT Newswires.
Revenue for the three months ended Dec. 31 climbed to $43.1 million, from $42,000 a year earlier, boosted by sales of BRIUMVI, the company's treatment for adult patients with relapsing forms of multiple sclerosis. That surpassed the $40.1 million expected by analysts, according to the report.
For 2024, the company aims to boost U.S. net product revenue from BRIUMVI to $220 million to $260 million. The drug accounted for $89 million of TG Therapeutics's $92 million net product revenue reported for 2023. The total revenue reached $233.7 million for the year, according to its press release today.
On average, analysts polled by Capital IQ are looking for $262.6 million in total revenue this year, MT Newswires reported.
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