Why TG Therapeutics Stock Was Tumbling Today

A near-doubling of revenue and a flip into profitability on the bottom line apparently weren't good enough for TG Therapeutics (NASDAQ: TGTX) shareholders on Monday.

The company, best known for its multiple sclerosis (MS) drug Briumvi, posted its first-quarter results that morning, and investors expressed their displeasure by trading out of the stock aggressively. In midafternoon action its price was down by more than 14%, comparing most unfavorably to the 0.2% dip of the S&P 500 index at that point.

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Sales boost from Briumvi

TG's revenue is comprised almost entirely of Briumvi sales, so when those sales improve so does the company's revenue line. This amounted to just under $121 million in the biotech company's first quarter, and was nearly double the $63.5 million it earned in the same period of 2024.

Image source: Getty Images.

The company's net profit was just over $5 million, or $0.03 per share. It posted an almost $11 million loss in the first quarter of 2024.

Yet analysts were expecting far better for that particular line item. The consensus prognosticator projection was $0.16 per share, although they underestimated revenue with a $117 million collective estimate.

TG also issued an update of its pipeline in the earnings report. It has a pair of phase 1 trials of Briumvi ongoing -- one for subcutaneous use of the drug on patients with relapsing MS, and the other on people suffering from muscular disorder myasthenia gravis. It is also developing a chimeric antigen receptor (CAR) T cell therapy, azercabtagene zapreleucel, that is in enrollment for a phase 1 trial.

Guidance raised

TG raised its guidance for domestic Briumvi sales for the entirety of 2025, and thus overall revenue. It expects that it will earn $560 million from U.S. sales of the drug, up from its previous projection of $525 million. Its overall top line should amount to $575 million, where its was formerly expecting $540 million.

It's clear that, like those analysts, investors were expecting a beefier bottom line given the climbing sales of Briumvi. The company is surely on the hook to deliver them, or face future stock sell-offs.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends TG Therapeutics. The Motley Fool has a disclosure policy.