TGTX - Earnings call transcript Q2 2024

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Operator

Greetings. Welcome to TG Therapeutics' Second Quarter 2024 Earnings Call. [Operator Instructions] Please note this conference is being recorded. I'll now turn the conference over to Jenna Bosco. Jenna, you may now begin.

Jenna Bosco

you. Thank thanks this and joining for everyone, morning. us Welcome, Waldman, me discuss are Sean the Jenna Officer; Weiss, Bosco, quarter Power, to with and Adam Executive Officer. Chief results I'm our second Chief Officer; today XXXX Chairman and Chief Financial our Commercialization our and Michael financial

results will of harbor Sean session. turning on of our begin before efforts, an and our our share recent to Following our to provide will update safe corporate give an overview an will financial statement, Mike over operator call overview developments. Adam the commercialization the Q&A the

cause Before statements to statements risk the differ SEC milestones, will these guidance, meaning to may begin, our can risks development cautions Factors and operating about These various indicated. Therapeutics' Reform product. TG including everyone plans within affect be may Private the that in found be that that actual XXXX. Securities Litigation filings. marketed anticipated performance, clinical that future we and we or I'd TG for operations subject performance, are projected like regulatory of Act from our those revenue financial our include statements include making sales statements forward-looking of results factors remind forward-looking expectations that our materially to forward-looking

for turn Weiss, over XX forward-looking specifically that, We or CEO. relied forward-looking as Mike date. audio be representing upon www.tgtherapeutics.com, recorded obligation it any rebroadcast call next represent for as This our on today days. With is be available not any our any on website, call later to revise where addition, to the being statements In this to of like any TG's our will made should views only and I'd call statements. conference as disclaim the of update views

Michael Weiss

I'm launch with about performance of business, which drug our been The outperformance was morning, for another the ago good marked initial has patients all forms you aspects continued of that to sales relapsing quarterly for multiple and us has our our and for our flagship earnings exceeded across Jenna, sclerosis. approved had successful quarter thank and of projections. joining our pleased everyone, positive call. response report BRIUMVI, of you, overwhelmingly XX Thank we months by market

me achievements quarter Let some by XXXX. highlighting the key second start of for

to First, million on our I'm last United in million the $XXX full the already net of we us $XX.X up the quarter, of our provided from the raised raise at exceeding of to target approximately commercial leading BRIUMVI our to front, million that $XXX $XXX pleased was in year achieved to share to $XXX $XX million. guidance States, $XXX million, to million $XXX from approximately beginning which million from That's preliminary year. guidance million sales

and on market in outstanding in of potential BRIUMVI's has goal multiple share done of for Our launch initial sclerosis forms the reinforces leading This early success strategy strong job long-term becoming an treatment to our relapsing resulting a commercial team adoption. our executing basis. our dynamic confidence reach

front, we a had On very quarter. the R&D also productive

upon the our to our for remains opportunities allogeneic off-the-shelf acquired focus, to potentially continue newly BRIUMVI improve expand for of we of CAR-T indications delivery diseases. While advance core evaluate time, explore our and continue ways new commercialization autoimmune CDXX BRIUMVI to to we At the explore BRIUMVI, same pipeline.

can evaluating present look able with safely dose data for for months. ] to in study into sharing the We enter highlights counts. low over to BRIUMVI to additional those ] switch streamline that in X without ENHANCE that which from study, is to of trial the [ coming We'll conference study transitioned BRIUMVI included continued R&D first hours also the ways Specifically our were robust at preliminary from use the [ anti-CDXXs, patients other the some showing XXX be from enrollment. data to the the ENHANCE quarter anti-CDXX ACTRIMS from forward B the other cell the milligram patients

our a to that assess with newly to was Another and study subcutaneous MS we I first their BRIUMVI. subcu of study in quickly. a priority Phase BRIUMVI for treated launched patients bio-equivalents IV this proud versus initiated high I'm get the highlight team was This of efforts

are high for trial has We we past, next believe a position finally, the that we As subcu the FDA cleared will a believe autoimmune IND data this this by targeting are study for be and a were additional our or share and mentioned we BRIUMVI early program, in pivotal application subcutaneous priority mid-XXXX. And of cell excited markets treatment diseases. BRIUMVI believe CDXX to drug azer-cel distinct new the year, and we investigational therapy CAR-T significant could CDXX allogeneic U.S. another franchise. starting R&D report related and for off-the-shelf to for the still represent to IV in the opportunity from

As progressive end into a are reminder, a a we acquire an for outside believe this to I track on cancer. with launch license year. azer-cel in Precision of to autoimmune year, Biosciences active initially this entered MS partnership indications With now IND we earlier diseases a by to hand, we patients of Phase the in with worldwide in

accrued used X-year established essentially Owl proceeds refinance The $XXX BRIUMVI wanted Blue XXXX. join facility mid-XXXX operationally results, announced January to be financial and program this first Capital. we touch I'd our share launch The Power, position more our impacted of will CFO, performance like leading to positively highlight to cash our on owed approximately to Partners, including was discuss and in of and flow credit million positive tranches to of interest our our strong discuss first to Capital quarter. Sean our repurchase mature indebtedness will newly set has repay, shortly with Royalty $XXX but in from Next, to to financial morning. the million I financial Hercules HealthCare our which detail,

to excited as repurchase operational repurchase to flows establish plan, share a providing repurchase We about facility, credit us simply This growth with first and million buyback a fund the recently of we're the us which accelerate been proceeds future, Another share step for story setting to we're in the publicly in authorized a talking is cash to TG $XXX which our see flexibility. We've will allows allocated capital, for shares. significant was with process. ability The Directors. to just this of our million additional working Board that has $XXX been potential committed value our to program up by be to up shareholders. and remainder sharing that possible added

and detail. walk a and making to Officer, us repurchase thank shares this utilizing Adam, our continuing their to please. over performance creating value hard the infrastructure for dedication our to investing we're footprint, shareholders. With our commercial work enables to we're hand initiatives build team commercial Commercialization through for success. TG in facility and in I'll efforts, credit entire to I about go which is growing direct patients' that, current excited without and to cash, the our We're new including our to lives this finally marketing more Waldman, quarter you in impact Importantly, the in ahead, our Chief our the making want positive Adam R&D call dedicated patient our programs. In out growing closing,

Adam Waldman

of Building progress forms to we bringing the for everyone. strong the share our the patients and second with Mike, continuing metrics, BRIUMVI XXXX. momentum morning, commercial thrilled first all again our once relapsing performance good to I'm on commitment of delivered MS. you, across have quarter Thank from quarter, key to

million As Mike over mentioned, growth net enrollments year. new the million, we the growth through reflecting growth with of XX% and previous TG achieved sales scripts $XX quarter of X,XXX processed $XX.X patient quarter-over-quarter second same and quarter last target from in increase the a our hub, XXX% XX% approximately marking saw strong patient exceeding We from quarter.

across patient new over X,XXX centers written from approximately to prescriptions launched XXX hub had now have to prescribers date. XXX our We

We patient all our numbers are prescriptions also but rate hub, go new with new the adoption, TG pleased total that to scripts very for not underestimate the these BRIUMVI. since remember of

RMS. will that $X billion share represents centers captured estimate XX% we with significant market For BRIUMVI, rate U.S. the IV only as continue less would We new to hub services. BRIUMVI and about approximately the class likely in adopt to and to is academic to as growth forward the going class in TG hub utilize gain within expect a it. the Strong continue now class capture approximately total in share The further overall hub independent this therapies centers growth that. scripts, patient our down the revenue to grow continues XX% XX% more that and large CDXX second centers and to leading more and of and adherence grow opportunity quarter, go will BRIUMVI an quarterly of the for year-over-year. are revenue of these types rapidly-growing capturing could anti-CDXX infusion

seen the to We new academic centers, treatment have prescriber X. expand, establishing our base quarter over these prescribers in new XX from MS new adding leading presence of accounts are and approximately further Many continue coming prescribers BRIUMVI's XXX in landscape.

started from to also VA. come have Some the

the our our new partnership As contributing BRIUMVI's BRIUMVI previously appointments treating which also patient are Veteran believe force BRIUMVI we announced, we overall MS believe veterans. cases field creates continue forms not relapsing and Affairs We in also value Department not by returns, in effect yielding investments base, strong only strategies the anti-CDXX and reinforces This our reach physicians to making to priority. dual a excellence. but market of preferred remains commercial at marketing and went of contract XXth, many for a trajectory. Patient partnership, operational our securing see treatment among into our our to with successfully growth top group We access patient effective that have June broadens high patient on strategic but new academia. Overall, strategic VA only access in initiatives to this expanded proposition. expansion accumulations, reflecting patients, of the

receive support patient with they accessing ensure have BRIUMVI instrumental treatment in comprehensive to working programs Our the need. they assisting been and patients

both and to get patient the patient diversity received and patients resources therapy, of our being have started treated feedback very positive and remains from remains providers at consistent. We strong. The about adherence week patients healthcare available on BRIUMVI with XX support types

adoption mix therapies. a treatment BRIUMVI's are compelling marketplace. to those who its broad patients to those profile is the other testament see therapies differentiation from in and switching CDXX from This a continue balance non-CDXX clinical of naive, and We switching

new year. about for growth current of and potential to guidance, million ahead, $XXX both which and $XXX to our persistence, trends in on year was BRIUMVI. we million we million Looking Based optimistic $XXX the are full continued patient raising accumulations and the $XXX million are

I for helping on and our Together lives. stronger with mission quarters QX. we're BRIUMVI more patients, our CFO. last QX saw results. would Therapeutics. modest living I We're conclusion, the the providers Sean healthcare been trust we making continue to also for growth want the seasonality achieving to with in from MS. better these improving them significant my want live QX you. And QX. In to in expect commitment considered in remarkable remain for of and Thank the thank bring TG the dedicated gratitude focused outcomes with from and their individuals expect Their to to their hard relentless year Sean? future efforts I'll work BRIUMVI. call have team therefore excited to driving the our QX We in hand over growth to that, to build in has to about extend Power, We success patients and strides more to crucial

Sean Power

joining Thank on website. thanks, the Investors quarter which Earlier our we this us. everyone, results, of for you, and be second can our Media morning, financial detailed Adam, viewed reported and XXXX section

for get briefly morning. to quarter, Before this results we X-K by described accounting earlier the the I'd I discussing the in into begin filed matter like

be the other we an restricted from subsequent was to to in or was second recognition single a period. not expense operations XXXX. impact to XXXX our results which During any of quarter error of isolated does error This identified stock and deemed XXXX grant review, related immaterial and

our was will it over error financial was to to immaterial to quarter material filed internal later XX-K stock statements, control and which controls relevant the an this week. this reporting amendment some require to represented Although XXXX in that will awards, company's all weakness this be determined related in around the non-routine disclosure be our that XX-Q determined financial

be year. updating process this the to relative XXst are the grants weakness internal in will these and of We before equity controls December expect already remediated our material fully of

let's results quarter. to Now, the turn for financial the

more $XXX 'XX. We We securities, flat the $XX.X of were made equivalents million are of report pleased with in U.S. positive quarter of from and we 'XX. both This BRIUMVI net end. product XXX% with up BRIUMVI flow and revenue, course ended over $X to year of and by quarter possible that cash, cash net was in strong quarter approximately comparable which investment quarter than the income second QX the from generated up million million in is cash the

Our QX came ranges OpEx one-time seen quarter during 'XX second in excluding the with non-cash below items charges $XX QX during million, at the approximately line roughly excluding XXXX. in when guided

the first range. for XXXX $XXX averaging quarter, OpEx just We're guided Our months $XX again million is million. X over of approximately below per our

by briefly briefly When the non-cash discussed ended GAAP with our and touching to to was per diluted our Capital. $XX.X debt of or income net existing with close a on $X.XX was facility for period $X.X X for finally, today's a income share. net to the As million were months approximately and million I'll facility earlier, million. And excluding We attractive duration financial $XXX be pleased Royalty Healthcare able Owl debt longer term a terms. announcement Blue new items, refinance

provide BRIUMVI the commercial to program the announced also Mike today resources discussed, operator as that, invest Q&A. over I turn to this the us As sufficient continue the execute to as opportunity. With share with to will our in conference on begin repurchase well now call back will

Operator

comes from line Song question first with Our Jefferies. Instructions] of [Operator Roger the

Jiale Song

this comment XX%, #X the also share? understanding dynamic we dynamic market you about ] been Maybe the And want on near recall, for As share seeing getting then you're the Mike, the first the around we term the quarter? you curious share what's in to have one, goal current become [ just market can market future? dynamic

Michael Weiss

will that get at We're working Yes, position. it. a We we're don't to going approx I therapy. so know, with new mean, XX,XXX X,XXX of to at again, got I course, to look, we're hard remember Yes, -- start XX,XXX driving assume using about of numbers, is to mean, keep our patients we goal, goal I approximate #X out have again, but it. a

quarter. the sort The had there is take. But going range not our toward they're XX%, we toward represents to of per tracking again, Adam share great. mean, hub, probably goal. dynamic XX% working as But X,XXX which only total the If XX%-ish hustling, we're I into or that's well push to give into prescriptions, about So we are the enrollments said, of that it's yes, is performing I doing baked. think we're fully team hard. out the drug and continue

Jiale Song

progressive baseline terms comment of initial of certain CDXX for first start want population just MS? allo any also, then you what the do And the you this then you population the you severity in CAR, or the for of your trial, versus sub CDXX when how MS particular progressive targeted can the indication about And are the targeting are characteristics if CDXX on biologically, the MS, you to study? think

Michael Weiss

Roger. Thanks,

don't in I difference cells MS areas, in mean, CDXX in has pre-B that has coverage specifically. cells, I MS that disadvantageous separated significant disadvantage be in constantly that be time. one-time, this And if not others. amount a patients you if one-time think might treating a be treatment, it'll these given short-lived versus a mean, there's I which CDXX advantages plasma some some some CDXX, it's potentially broader of or So know huge and were yes, by will a we in

reset quite that one-time best-in-class of back. would system. course, again, ideal. Hopefully gaps, cells tissues long the I the treatment. they're that the treatment let create then hopefully a you be be B or potentially for good goal in B depletion have able the and CDXX a very be And within be robust think the cell then and very But would a you'd approach it is potentially non-immunogenic And between use this treatment. and And B a course, to of cells for deep release to come gaps long systemic central you would to treatment leave as MS. across

speaking, -- for a think probably better repeating be generally MS. if little going I CDXX treatments, probably you're bit So CDXX to

CDXX a have treatment, has looking some in may advantages that at one-time case. you're something If that

had that there Roger, a more to of the answer, I question, course, myself lost question? to that part is You which in second but

Jiale Song

Yes, target patient or you to progressive population trial? baseline about just initial specific baseline characteristics curious any in the want clinical MS, your

Michael Weiss

mean, we're I so No. think I now. unmet in really. Not MS progressive to open the patients, all is definitely medical that need right

So those yes, we're into patients. excited to get

inactive, to want secondary that progressive progressive, CNS penetration great patients that like active. deep hopefully, primary group. progressive, would So secondary are and could just be we're are for We it progressive it We're hitting to that and make I of progressive could be penetration said, sort agnostic sure secondary that tissue be disease.

Operator

of is Kaplan the from with question next The Ladenburg Matt line Thalmann.

Matthew Kaplan

I guess few a questions.

subcu in pipeline us profile started Can delivery from of the on you mentioned you point terms First a bit you potential little a that of give view? and the frequency sense program. more your subcu of

Michael Weiss

Yes.

in is market. one dosed patient once you month, the once currently a It's taken and that relatively be per format. deal getting a, to month to drug say, injector once on needs still there with it auto a have elegant still But I'd the month. subcu to So

that arise. issues there's definitely So logistical can

The bit could be is in subcu in September, version more but That of is is Ocrevus. yet clunky. market, other the that a here a potentially not one

attach cause swelling, to You provider need a format they some a either healthcare but will pump, pushed some over with by a XX have to bruising, some pump minutes or used it it XX reaction. minutes where

that's subcu more of elegance a the than think I clunky bit auto injector. So a

if Ocrevus subcu something will that's is than find and than Ocrevus. is volume approved. elegant middle, be and that's large than frequently the every something subcu somewhere month a seen goal less with the Our that in more goal have is ourselves months once X The the -- it's to to frequent less

And So and like ourselves less think just yes, injector of there, is I the a frequently look, to mean, subcu month. elegance to standard. we'd it auto gold get be we the than we'd once like

Matthew Kaplan

that? we going kind on guidance And third in along a congrats expect seasonality And about Is then underlying business. quarter think about to with quarter remarks, talk that your mentioned your you should third achieving fourth. guidance, bit should little also how you of between increased your forward? some expect we versus prepared something to Can in terms that, then profitability -- from to second your first of quarter

Michael Weiss

want take seasonality then profitability back and come you Adam, question that to Sure. we'll the question? to

Adam Waldman

we does the market [ and Sure, yes. the in Historically, summer physicians have taking both MS have seen ] down vacations. touching to tend patients slow months -- you

that and have expect year, see So saw this seen it last you we we historically, it year. would so to

see have attending added last little the You conference some year. has a last softening versus around lot being this quarter X ACTRIMS unique also physicians we bit year the into did that the moved And in of -- conference. a from X quarter with year with ACTRIMS U.S.

contribute So raised We've seasonality guidance those provided. we But obviously that and of a to X very year more we overall, long-term. the our guidance think we're full confident, the in [indiscernible]. will things just that's

Michael Weiss

think basis, comp. like net GAAP this non-cash impacted, income impacted basis the should a crack take I'll will are operating be by then correct profitability will profitability we I be if I those an on get impacted -- that a here and Sean's to Again, things And wrong. help on me forward. maintain side going or But on and

flow profitability by will be cash impacted build. things like Our inventory

add into we're where get closer regardless maintain stuff, year, we'll in it, at certainly that? the we income get assume, as the of we're expenses, whether Sean the inventory an those that we positive that, and the spend But net operations affect. fringe regardless outpace we're will cash the we'll on budget, to or our will closer top or point. But both we're to growth to expected. lower we've buying anything to marketing increasing continuing of basis, than certainly non-GAAP -- this non-cash are see, even on do Sean, expenses can of area you revenue that mentioned, do things I further trying as So We're added flow. But don't our of and of continue that. to team, we both, sort expect could some as to

Sean Power

Mike. No, think nailed I you it,

think perfect. I that's

Operator

Michael Our next come from with of Evercore questions line DiFiore the ISI.

Michael DiFiore

initial one, balance hearing X the few have how the Number of Ocrevus from year? guidance, A me. of I And obviously boost you wondering mean, for launch questions account in subcu you've like penetration regard? this from the have follow was you're that I do helped but impacting perceive outlook your field the I if ups. may anything increased

Michael Weiss

want go the from about what Sure. launch Ocrevus? Adam, expecting subcu to and ahead a you talk little of we're

Adam Waldman

Sure.

ready a around administration Our Ocrevus. teams [ we extension side base. But be will product the this for honestly, there of heard enthusiasm and -- prepped our are complex lot launch with for obviously haven't of nurse customer potential concerns profile. the We've ] for product effect required, detected training

our here we will to think don't from view a sit market. we So many, U.S. today But have that's today many our talking customers. in significant that's it is and interpretation the impact

Michael DiFiore

is in on dynamics inventory The in as as any if the question could well gross-to-net year, update outlook the QX? balance you any second comment of dynamics on QX, any just, for

Michael Weiss

question? the you could Sorry, first of Mike, that part repeat

Michael DiFiore

of year, if wondering was noted on was in inventory well as -- clarify the outlook any dynamics gross-to-net XQ? for just the gross-to-net and there any whether or comment to on balance could I Yes, be you as QX in the dynamics

Adam Waldman

and to unexpected. and quarters to previous that material similar was no Yes. was note. nothing change, inventory, Nothing Gross-to-net

Michael DiFiore

BRIUMVI the question to academic in the launch? [ from there, ] centers rollout any have to I U.S.? the noticed compared you any and initial notable final My feedback on differences mean, update large of you, EU any

Adam Waldman

that you take want me Mike, one? Yes.

Michael Weiss

going. on Keep you're roll. a Adam,

Adam Waldman

is very launch, several X-hour also but you those from efficiency for particularly centers feedback feedback as Mike, gaining interestingly an it in for academic in the other been they on waiting Germany. momentum But reimbursement the getting So the the countries. standpoint. still infusion preparing launched attractive centers in [ that know well. has centers, ], They're as We're both in They positive. community the are

it's So overall, going well. been

as the or think is looking we're U.S. this year launch, good to and profile. to next forward year. see to As go for launch countries product they uptake early that and later more the enthusiasm I how the in far seeing And continue there we'll there comparison -- similar in

Operator

are Our from Joseph of next the line questions JPMorgan. Eric with

Eric Joseph

sort you secondly data enhanced on Mike, launch around I thinking that anticipate guess just I what does here. the I'm the of to pull How and to I contract, ultimately about long-term, should had how also on that? couple of then might I first the incremental terms be [ the where through margin, and visibility on guess, additional next trial? And expenditure then, CDXX build commented And sort go updated looking you of to from ] sort curious quarter guess BRIUMVI what can I the that in and of the think support how any with know this the I much quarters, kind to of [ guidance, you you should BRIUMVI? thinking the guess sort contributed franchise? additional of range BRIUMVI inter of we via ] guess, VA commercial guess, about kind uptake, of switching be also SG&A profitability the of put switches

Michael Weiss

] for [ the questionnaire. Thanks, X-part Sure. Eric,

Do think one you there? want was may to updated want, if the I maybe guidance, VA? be you how by the start Adam, first impacted it

Adam Waldman

Yes.

that be on think place. the would excellence have VA. material time, the since impact to the into VA, of mentioned VA, specifically guidance perhaps BRIUMVI. a contract but we at The patients. We're of utilized XX% new stages I would I call say this went It's I the the is say of centers been the contract XXXX. in the would the month in early about point, So not a -- launch includes the At VA It's for last XX%

CDXX. easier from ENHANCE expect patient -- although your we of our guidance of it's issues yes, switches don't CDXX. was it other are complain patients from Switches been seen the We've patients. And major overall includes, making then market, and on third since so CDXX. CDXX of And being the more question other launch trial second around guidance. don't patients And remain of our and switched it's switching from with tolerability I terms amount over there consistent it an in percentage consistent know overall And would And stay part. and I of crap-gap a the attractive nice driver in to switch that CDXXs. we from a then good to not expect that many see of We population it's quarter-to-quarter. believe data remember

Michael Weiss

that launch, got was me, of him, that the Yes, so I've Sean question one. we going. -- build and could probably. one help although was That you so SG&A on see and could directed at so the -- But then sort long-term where

when the The of baked strategy. total And we sized the we of OpEx team. revenues and million launch for the in $XXX we mean, the out So, team. grow look, a SG&A and had this to said that always we strategy growth a build and we team focused started the for very yes, team year that basically reinvest I will the

and the field in a grow. than every certainly like force certainly grown for twice or continues I like I field to force, that day, since or the the close we've get at of nearly core the XX% once hires field the said, themselves week. I Over the in course requests mean, least think our new more doubled, launch, management I year, versus think, field I level sort teams to of positions,

obviously of OpEx for a million is in again, the about I the exact, year say we've -- not so So we're $XXX growing, think $XXX the OpEx below just into bit still to I'm but going approximately it's and team little that that's, with year. again, all that million, going to stick been baked running far. But number for

into And on focus field-based do move our we're online already year, Phase we which to efforts. said, we bit, that again, II specific direct OpEx like Again, and we've certainly I launch, a and we talked But to continue that. team target already budget, in awareness, on growing marketing year's obviously was about our We're grow of to We're patient I'm we've the marketing is very as increased, budget. this get next out. this continue -- we that I to will we'll will the a grow year. Long-term, we maxed to going confident clinician and some we next point I higher, is team were can As continue that, the that to to as said, be going incrementally we're continue -- wanted probably at early again, HCP endeavor. higher. really awareness, the think to fully that see budget incrementally into

that and So up incremental marketing marketing gapping continue, that said, relatively over is budget like is our out well. and that spend the have incremental my in hope be hopefully a really we new as we grow time be appropriate. SG&A as But starts and every we nice I share and build expectation then OpEx think our out. The to cap whereas the and revenue continue will year, will build effect measured that accumulation will is the and budget should to market

keeping think flows I job few think done solid. amazing mean, could seen, the -- cash margins OpEx operating of But there. a I move top biotech I out there. that earlier be mean, margins that yes, I've their have potentially other out I've of is Regeneron forward. best why looked So significant as all companies in the I high. at we I of quoted I Vertex, There's itself on should an in long-term see some

so could of we OpEx margins. be leading revenue, position OpEx in terms think I in a to

Operator

Our Mamtani with B. of next the Securities. question line Riley is from Mayank

Mayank Mamtani

solid a quarter. Congrats on

commercial Adam, on talk new-to-class to the market then intra it quick be persistence I you if and update guys switch an on of metrics. rate you within qualitatively if class a you're can So seeing, follow quick sort And year-end segments? have up. target, share X-part could or

Adam Waldman

week laid continues to least saw before saw be And what Ocrevus at Yes, -- said the is we we what And in XXs. as we've XX that's persistence we're and expected, to be ] ballpark. what around it at [ solid. expected rate that high

there. strong very is range the So

to in continue grow therapy market the that's going hit to we're going the growing dynamic to going add is and to like a I think continue has to day of and on we of what MS to market. I'm care. prescribers every the focus we're to be said what by we'll year. more not and of that we continue #X focused goal we a Mike what And reiterate and getting our continue share, in going market we're to specific on we're the just said to more see call, think terms end give prescribed In to that. I traction said, And terms doing that in we're and share

Mayank Mamtani

hear study Maybe I then an I ENHANCE the healthcare and generated talk the just ACTRIMS, a incremental to you've provider there's presenting feedback at of sort And what update there to BTK recognizing also, your at to plan, data deliberative Would see results. are III have new the ACTRIMS. the range you noticed And Phase results to you're [ impact on what's and love date? -- long of program your relatively late class mixed on coming been to and sort how recently? Hercules latest thoughts ] data drug thinking -- also Gemini breaker,

Michael Weiss

the for questions. Thanks

notifications I can't about to released answer abstracts ACTRIMS. we The feedback And your say can't so feedback talk obviously, have second previously. of anything the part not anything has about HCP yet, extremely that. we question think results the positive. been about So have presented I can been and But your

so walks patient respects a we they through some CDXX milligrams or B depleted XXX relapse, whether that door I full the down de-bulking in some it's take there's dose have X feel well dose having X who's other think at can is milligram issue, crap-gap the some people to is cell they which a need a don't had B where -- dose, cells relatively intuitively, in but already if the XXX go we later hour. a weeks proper in give that

and happy to those not are can you that see that to that surprised people patients yes, So I the do think happy that. to transition safely -- see

thus in more coming we'd trial. I a said, So, far. data like think that's the to from positive yes, And I net months, like that present

are MS, point, the look, more or one folks be likely of BTKs anyone of it's gives BTKs of believe more not forms terms would to than convenient, whether forms in an several that that CDXX active, this BTK, at CDXX. think regardless relapsing side mean, relapsing successful I don't than be MS the believes inferior I -- effects think in profile they more of I will point. most to of this are less In at

of a Obviously, in studies some seen foregone way. So toxicity relapsing some the assuming we've again, that's had I forms are and been failures the conclusion, that's successful. think that MS along now probably

wait looks like. MS. and what sit think So I again, relatively for is these we'll see optimism drugs forms But and and of we relapsing low the we'll data

the of think drugs other I potential do there's forms MS. progressive these the that for for On lot in a excitement of side,

in well-treated and unmet if we're earlier, that progressive that I they and because at of theory, in medical MS need. As MS, progressive that right? think this That's work most is least forms is is at I be would the phenomenal, looking azer-cel would point. area mentioned concerning the

So I works potential. an amount need, you are enthusiasm think and enthusiastic about pessimism anytime will certainly again, I there's -- for fair have that a it. If But work. think the medical unmet there's people excitement it of it

if be So work -- forms we thing would these patients shall of see a in very again, progressive MS. nice for

it's I of think not forms in relapsing concern of MS, a ours.

Operator

Fitzgerald. from are of Prakhar the Agrawal questions next Cantor Our line with

Prakhar Agrawal

the on quarter. Congrats

follow academic to between your based uptake, split a do similar So IV expect market? of and Ocrevus centers? or up. CDXX you you be their conversations so prescribed do subcu the different following than who or uptake community on And versus the on the for the the And know have or the in subcu is I similar up field, X,XXX overall physicians different whether had BRIUMVI,

Michael Weiss

want start to do you Adam, Yes. on one? first the

Adam Waldman

Yes, for the so the -- first Prakhar. one Thanks question,

is us It's for to for picked infrastructure. detect I as guided, have go overall that do earlier, in places tough product. where a know, IV and which be right? just [ think the up. enthusiasm this we has tell don't ] point, exactly don't So said don't Roche the by The where pickup first will can at is lot we be, where I will subcu one we of this

I that And on question? subcu get So that. -- second then what about I could you asked the versus you want part it say of share sure tough the make to right. to just repeat IV

Prakhar Agrawal

Yes.

So subcu IV for the X,XXX physicians who share have prescribed versus BRIUMVI their CDXX? so far, of what's

Michael Weiss

don't significant but are Yes Prakhar, we focused I prescribers that IV share. on know that, have

prescribers subcu. don't higher a to share I exact but question, that know the have than IV our answer guess I your So

Prakhar Agrawal

up are And most maybe academic on these a uptake around follow starting segments uptake if provide more segments mixed just to for by BRIUMVI can which maybe community the moderate? the seeing now by right you which centers, as BRIUMVI and and and details and are growth segments

Michael Weiss

segment now quarter-over-quarter that's BRIUMVI still hospital testament in see a perspective in terms segment And and I centers and from highest said we're segment And from was in is the to in the within we've both business as our in logistics. initial academic think took X In longer of But segment. absolute last of Yes, success today. significant more seeing. profile to seen private segments. we've the a more the add drug its the we we've the Sure. prescriber growth uptake as continue seen calls, the in seeing we're the largest the a ever in segments. growth adds hospital particularly But formulary perspective previous all that quarters of hospital QX, to practices -- saw growth academic the and recently centers, vials. And the

Operator

line Our H.C. the is next with Ed from Wainwright. White of question

Edward White

thoughts VA it I that going in So give question on the on to can opportunity XXXX. back wanted beyond? mentioned be just the really the just material represents not and had you in Adam was if wondering it's come to to XXXX contract. I us your

Adam Waldman

Yes, Sure. is was I for for question. new a we the grow mean patients. And -- said over what will is time. that the contract this Thanks

estimated $XXX for the the contract I million think overall X-year about value was contract.

I see. think we'll

physicians we're I lot think overall value that every business, don't a in and determined to continue of try think it's the new think huge percentage. available, mentioned, see our to over don't get time. Compared are a how that We as there is will we patient are is also to to there -- grow VA I academia. that -- in But work that the we'll

effect proposition the hope help overall also a that, Our have that to BRIUMVI academic brings. setting the overall and profile of that the in value and will is reinforce halo BRIUMVI

Edward White

years, couple gross-to-net? next that any as there the business of impact Adam, And is size of over grows the to

Adam Waldman

public given for it's Sure. sure, There'll be to offered an what gross-to-net, the at a we drug discount. that impact

Yes. gross-to-net. So affect that will

Edward White

and Do of on for you perhaps to timelines going that? program. $XXX is how And have get the just that question start you any my any repurchase program share are to long last continue expectations million? to will When the

Michael Weiss

Yes.

to expect we started So soon. get

we'll think be in measured I we how do it.

in open time the be we'll will I repurchase. which ] no fixed is like in $XXX style duration And XX there of in plan. think a a, the purchases, So we market sort [ of spend of million XXB

some in price share it probably so different at some levels. build And we'll of buy targets we can more

we're more shares, money many the time Obviously, I we that for we'll back try expect it can to with as about continues. to the buy just and revenues going buy cash to as and have shares reload we get think think So yes, the and as flow we over so moment.

soon the think I as So we're we the buying can for we'll going see as moment goes. start and it to just how

Operator

of question is Sachs. Goldman final the Corinne Our from with line Jenkins

Palak Garg

on This is Corinne. Palak [ ] for

for us one Just here. question

You upside touched business you the second into year, the could to revenue see for also the of potential your upon seasonality highlight guidance? for you half room where but

Michael Weiss

one? take Adam, can that you

Adam Waldman

QX. seasonality for -- sure. mentioned, was was Yes, as to Yes, I limited

affects MS so on vacation and historically market that forth. affects entire IV disproportionately given just mentioned, -- I is therapies and the so As and probably

as think we're and new back, would side upside. to going certainly repeat we as continue grow. seeing potential there's patients to And continue prescriptions if in think the both As confident I up new that the would the continued we've on we've pick noted which growth grows growth And year, year patient start the shows we're come also, full faster here. be raised guidance that upside the for and patients grow story overall than expect, to I

Operator

We've turn over end to I'll the remarks. Weiss reached call session. the of the now for question-and-answer closing Mike

Michael Weiss

discussed us on half today, we'll Thank the continuing of to look focused again forward Great. everyone, the on continue as today's second key thanks, into and to call. positive And joining you, XXXX. several be for We momentum priorities.

from eligible BRIUMVI's building medicine. footprint increasing expanding our can and efforts. That our ensure out benefit innovative reach patients this to all commercial on marketing First, includes spending

new our advancing development, expansion initiatives our and study indications switch Next, for our subcutaneous exploring BRIUMVI. through BRIUMVI ENHANCE

opportunities expand BRIUMVI by Finally, and commencing for TG the clinicians once I'd progressive I patients shareholders support again, and looking in the thanking to pipeline. Have whole like Phase making their MS, and at put close it TG our that their our team for as that, well and our loyal day. as trust to and azer-cel nice With for a happen.

Operator

conference. This will today's conclude

your me Let your time. you this at Thank participation. lines disconnect for

TG Therapeutics (TGTX) 6 Aug 242024 Q2 Earnings call transcript