TG Therapeutics' Impressive Quarterly Results and Raised Guidance Spark Surge in Stock Price
Friday, 3 May 2024, 09:56
Bullish Sentiment on TG Therapeutics
The company raised its guidance for the full-year performance of Briumvi, anticipating net revenue of $290 million, exceeding its previous forecast of $270 million.
Key Financial Highlights
- First-quarter product revenue reached almost $50.5 million, solely contributed by Briumvi sales.
- Combined revenue from product, license, milestone, and royalty stood at just under $63.5 million.
- The biotech firm managed to narrow its net loss to $10.7 million compared to $39.2 million in the previous year.
Analyst Projections and Recommendations
On average, analysts expected $54.6 million in revenue and a net loss of $0.04 per share, making TG Therapeutics' revenue beat significant. However, Stock Advisor did not include TG Therapeutics in its top 10 stock picks for investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.