TG Therapeutics (TGTX) Jefferies 2024 Global Healthcare Conference summary

Commercial performance and market dynamics

• Lead product Briumvi approved for relapsing forms of multiple sclerosis, launched in February 2023, with 2024 revenue guidance of $270–$290 million.

• Briumvi competes in the CD20 segment with Roche and Novartis, which now accounts for over 50% of new MS therapy starts and may grow to 60%.

• Key launch metrics tracked include new patient starts via the company hub and adoption rates at both community and academic centers, with an estimated 80–85% capture rate.

• Market share is distributed across patients new to CD20, naive to all treatment, and those switching from other CD20s, with the largest group being prior non-CD20 treated patients.

• Commercial team size has grown by 20% since launch, with a focus on expanding patient engagement and maintaining high coverage (about 95%).

Product differentiation and competitive landscape

• Briumvi's 1-hour IV infusion and low annualized relapse rates are key differentiators for both new and switching patients.

• Subcutaneous Ocrevus (Roche) is not yet self-administered and has not generated significant clinician interest; its administration profile is not seen as a major time-saver.

• Briumvi's subcutaneous version is in early development, targeting less frequent dosing via auto-injector, with pivotal trials expected to start in about a year.

Intellectual property and pipeline expansion

• Three new patents for Briumvi have been issued, including a composition of matter patent covering the full molecule and additional formulation/manufacturing patents, supporting exclusivity through 2042.

• Expanded patent protection enables exploration of new indications beyond MS, such as NMO, MG, RA, and Lupus, with decisions pending based on clinical and market research.

• The company is evaluating whether IV or subcutaneous administration is optimal for each new indication.