TG Therapeutics IncTGTX
▼ NegativeCapitalrelevance
Q2 EPS miss and higher costs despite revenue growth
Impact on stocks 1
Biotech & Genomic Medicine
TG Therapeutics IncTG Therapeutics falls 11% after second-quarter earnings miss
Earnings
TG Therapeutics shares dropped about 11 percent in Monday trading after the company reported second-quarter diluted earnings per share of $0.05, missing expectations and down from $0.17 a year earlier. Revenue rose 70 percent year-over-year to roughly $240.3 million, driven by a 64 percent increase in U.S. sales of its multiple sclerosis therapy Briumvi to $227.7 million, but the bottom line was pressured by a more than tripling of research and development costs to approximately $95.3 million and a 48 percent rise in selling, general and administrative expenses to about $82.1 million. Despite the earnings miss, the company raised its full-year revenue guidance to around $950 million and its U.S. Briumvi sales estimate to between $890 million and $905 million.
TG Therapeutics IncQ2 EPS miss and higher costs despite revenue growth