TG Therapeutics Inc (NASDAQ:TGTX) stock rose 4.56% (As on March 5, 11:22:38 AM UTC-4, Source: Google Finance) after the company reported strong financial results for the fourth quarter of 2024, surpassing analyst expectations. Product revenue, net consists primarily of net product sales of BRIUMVI in the United States, which totaled $103.6 million and $310.0 million during the three and twelve months ended December 31, 2024, respectively. Also included in product revenue, net during the three months ended December 31, 2023 and 2024 is approximately $3.2 million and $3.7 million, respectively, for product sold to our partner Neuraxpharm to support the Ex-US commercialization of BRIUMVI. Net income was $23.3 million and $23.4 million for the three and twelve months ended December 31, 2024, respectively, compared to a net loss of ($14.4) million for the three months ended December 31, 2023 and net income of $12.7 million for the twelve months ended December 31, 2023, respectively. Cash, cash equivalents and investment securities were $311.0 million as of December 31, 2024.

Meanwhile, the company has entered into a global license agreement with Precision BioSciences, Inc. (Precision) for the development and commercialization of Precision’s allogeneic CD19 CAR T therapy program, azercabtagene zapreleucel (azer-cel), for the treatment of autoimmune disorders and launched a Phase 1 trial in primary progressive multiple sclerosis

TGTX in the fourth quarter of FY 24 has reported the adjusted earnings per share of 15 cents, beating the analysts’ estimates for the adjusted earnings per share of 8 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 35.9 percent to $108.2 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $98.5 million.

For fiscal 2025, the company’s target for total global revenue is of approximately $540 million, including BRIUMVI U.S. net product revenue of approximately $525 million and full year 2025 target operating expense of approximately $300 million (excluding non-cash compensation).

Additionally, in fiscal 2025, the company will commence pivotal program of subcutaneous ublituximab. The company will commence a pivotal program based on data from the ENHANCE trial with the goal of enhancing the patient experience on intravenous BRIUMVI. The company will enroll participants into the ongoing trial evaluating BRIUMVI in autoimmune diseases outside of MS and enroll participants into the Phase 1 azer-cel trial in autoimmune disease, beginning with progressive forms of MS.