Business
TG Therapeutics Provides Business Update and Reports Fourth Quarter and Year-End 2022 Financial Results
Conference call to be held today, Tuesday, February 28, 2023, at 8:30 AM ET NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- TG Therapeutics, Inc. (NASDAQ: TGTX)
About this update from Tg Therapeutics, Inc.
[{"type":"text","content":"Conference call to be held today, Tuesday, February 28, 2023, at 8:30 AM ET\nNEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- TG Therapeutics, Inc. (NASDAQ: TGTX) today announced its financial results for the fourth quarter and year ended December 31, 2022, and recent company developments. Michael S. Weiss, the Company's Chairman and Chief Executive Officer, stated, \"2022 was a pivotal year for TG with the approval of BRIUMVI for relapsing forms of Multiple Sclerosis, and 2023 is off to an exciting start with the commercial launch of BRIUMVI. Our teams are hard at work introducing BRIUMVI to the MS community and while we are only 4 weeks into the launch, we are encouraged by the early feedback from providers, payors and advocates.” Mr. Weiss continued, “Our highest priority is our commitment to patients and to ensure that patients who want BRIUMVI will have access to BRIUMVI. We look forward to building on the foundation we are developing in this early launch phase and extending it throughout 2023 and beyond.” 2022 Highlights & Recent Developments U.S. Food and Drug Administration (FDA) approved BRIUMVI™ (ublituximab-xiiy), for the treatment of relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults.Commercially launched BRIUMVI making it available for patients and physicians.Presented additional data, including new analyses, from the ULTIMATE I and II Phase 3 trials at the 2022 Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) and at the 2023 Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) annual forum. Key Objectives for 2023 Execute a strong commercial launch of BRIUMVI in RMSObtain broad payor coverage for BRIUMVIContinue to present additional data from the ULTIMATE I & II Phase 3 trials of BRIUMVI in RMS Financial Results for the Fourth Quarter and Full Year 2022 Product Revenue, net: Product revenue, net was approximately zero and $2.6 million for the three and twelve months ended December 31, 2022. Net product revenues during the year represent U.S. sales of UKONIQ, which received approval in February of 2021 and was withdrawn from the U.S. market effective May 31, 2022.R&D Expenses: Total research and development (R&D) expense was $29.6 millio...