TG Therapeutics, Inc. Q3 FY2025 earnings call

• BRIUMVI continues to outperform, with strong U.S. net sales and positive real-world data supporting its efficacy, safety, and convenience.
• Launched two pivotal studies: ENHANCE exploring simplified BRIUMVI dosing and a Phase III subcutaneous ublituximab study with potential to double the addressable market for BRIUMVI.
• Developed azer-cel, an allogeneic CAR T therapy for progressive MS.
• Completed initial $100 million share repurchase program and Board authorized another $100 million program.
• Expanded commercial field organization and initiated national television campaign to drive BRIUMVI awareness and engagement.

The main product segment is BRIUMVI for relapsing MS. In Q3 2025, U.S. net sales for BRIUMVI totaled approximately $153 million. Total revenue for the quarter was $161.7 million, with product revenue at $159.3 million, primarily driven by $152.9 million in U.S. BRIUMVI net sales. BRIUMVI's revenue contribution is significant to the overall product revenue.

• Adam Waldman raised the full year 2025 U.S. BRIUMVI net revenue guidance from $570 million to approximately $585 million, reflecting favorable demand trends and consistent execution by the commercial team.
• Confident in BRIUMVI’s long-term potential with growing prescriber base, patient engagement, and product life cycle investment.

Any forward-looking statements are subject to risks and uncertainties detailed in SEC filings, which could cause actual results to differ materially from indicated views. Risks include those related to clinical trial outcomes, commercialization of products, and market competition.

Q: Regarding guidance, thoughts on Q4 growth and tailwinds like DTC efforts?

A: Adam Waldman noted Q4 growth is good (14% quarter-over-quarter), driven by patient retention, field expansion, and media investments.

Q: Initial thoughts on 2026 trends and BD deals?

A: Adam Waldman mentioned continued new patient growth and patient persistence; Michael Weiss discussed high ROI standard for BD deals, passing on those not meeting threshold.

Q: Color on simplified dosing regimen expanding market share?

A: Michael Weiss stated it's within current addressable market, with customer excitement but challenging to put specific numbers on it