TG Therapeutics up on prelim sales of multiple sclerosis drug, 2024 view

TG Therapeutics

10/01/2024 13:36

** Shares of drugmaker TG Therapeutics  TGTX.O  rise 11.14%
to $23.35 premarket
    ** Co says prelim Q4 sales of its multiple sclerosis drug,
Briumvi, at ~$40 million
    ** Analysts were expecting Q4 rev of $37.55 mln - LSEG data
    ** Co targets product revenue of $41-$46 mln for Q1 2024 and
$220-$260 mln for full year 2024
     ** In Dec 2022, the U.S. FDA  approved the monoclonal
antibody used for the treatment of patients with relapsing forms
of multiple sclerosis, a neurological disease in which the
immune system attacks the brain cells, causing motor
disabilities
    ** Stock rose ~44% in 2023

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))