TG Therapeutics, Inc. (TGTX): ANSOFF Matrix Analysis [Jan-2025 Mise à jour]

Dans le paysage dynamique de la thérapeutique Oncology, TG Therapeutics, Inc. (TGTX) émerge comme une puissance stratégique, traduisant méticuleusement sa trajectoire de croissance grâce à une matrice ANSOff complète. En mélangeant de manière transparente la pénétration du marché, le développement, l'innovation des produits et la diversification stratégique, l'entreprise est prête à révolutionner les paradigmes de traitement du cancer. De l'expansion des efforts de marketing pour Ukoniq à l'exploration des technologies de médecine de précision de pointe, TGTX démontre un engagement indéfectible à transformer les résultats des patients et à repousser les limites de la recherche hématologique et oncologique.

TG Therapeutics, Inc. (TGTX) - Matrice Ansoff: pénétration du marché

Développez les efforts de marketing pour ukoniq (Umbrasib)

En février 2021, TG Therapeutics a reçu l'approbation accélérée de la FDA pour Ukoniq dans le lymphome marginal en rechute / réfractaire et le lymphome folliculaire. Le potentiel du marché du médicament est estimé à 350 millions de dollars par an sur le marché du traitement au lymphome américain.

Segment du marché du lymphome	Valeur marchande potentielle	Cible de la population de patients
Lymphome de zone marginale	175 millions de dollars	Environ 5 000 à 6 000 patients
Lymphome folliculaire	175 millions de dollars	Environ 14 000 à 15 000 patients

Augmenter l'engagement de la force de vente

TG Therapeutics a déployé 35 représentants spécialisés en oncologie en oncologie ciblant les principaux centres d'hématologie et les pratiques d'oncologie dans 28 États.

• Cible 250 pratiques en oncologie à volume élevé
• Effectuer 1 500 réunions de fiançailles médicales directes chaque année
• Atteindre 65% de pénétration du marché dans les régions cibles

Améliorer les programmes de soutien aux patients

La société a investi 2,3 millions de dollars dans les initiatives de soutien aux patients en 2022, en se concentrant sur les stratégies d'adhésion aux médicaments.

Composant du programme de support	Investissement	Résultat attendu
Programme d'aide aux patients	$850,000	Améliorer l'accès à 40% des patients éligibles
Suivi d'adhésion numérique	$750,000	Réduire l'arrêt des médicaments de 25%

Développer des campagnes de marketing numérique

L'allocation du budget du marketing numérique a atteint 1,2 million de dollars en 2022, ciblant les plateformes numériques en oncologie.

• Implémenter la publicité LinkedIn ciblée
• Développer une série de webinaires en oncologie spécialisées
• Créer un contenu numérique d'éducation des patients

Optimiser les stratégies de tarification

Le coût moyen d'acquisition de gros d'Ukoniq est de 15 750 $ par cours de traitement.

Stratégie de tarification	Positionnement concurrentiel	Impact du marché
Prix ​​comparatif	5% en dessous des traitements concurrents	Augmentation potentielle de la part de marché de 8 à 10%
Assistance aux patients Copay	Jusqu'à 15 000 $ de soutien annuel	Améliorer l'accessibilité des patients

TG Therapeutics, Inc. (TGTX) - Matrice Ansoff: développement du marché

Expansion du marché international pour les traitements de lymphome et de leucémie

TG Therapeutics a déclaré un chiffre d'affaires total de 20,3 millions de dollars pour le quatrième trimestre 2022, en mettant l'accent sur l'élargissement de la présence sur le marché international pour l'ombralisib et d'autres traitements en oncologie.

Région de marché	Taille du marché potentiel	Cible de la population de patients
Europe	1,2 milliard de dollars	45 000 patients atteints de lymphome
Asie-Pacifique	980 millions de dollars	38 000 patients atteints de leucémie

Approbations réglementaires sur les marchés européens et asiatiques

En 2022, TG Therapeutics a lancé des processus de soumission réglementaire dans 7 pays européens et 4 marchés asiatiques.

• Soumission de l'Agence européenne des médicaments (EMA) pour Umbrasib en cours
• La revue du PMDA du Japon est en cours pour les indications de traitement élargies
• Calendrier des examens réglementaires estimés: 18-24 mois

Partenariats stratégiques avec les centres internationaux d'oncologie

Institution partenaire	Pays	Focus de la collaboration
MD Anderson Cancer Center	États-Unis	Expansion des essais cliniques
King's College London	Royaume-Uni	Collaboration de recherche
Centre national du cancer du Japon	Japon	Développement du protocole de traitement

Opportunités des marchés émergents

Cible des marchés émergents avec des besoins médicaux non satisfaits identifiés au Brésil, en Inde et en Asie du Sud-Est.

• Potentiel du marché brésilien: 250 millions de dollars
• Potentiel du marché de l'Inde: 180 millions de dollars
• Potentiel du marché de l'Asie du Sud-Est: 220 millions de dollars

Extension des essais cliniques mondiaux

Région	Nombre de sites d'essais cliniques	Inscription estimée des patients
Amérique du Nord	42 sites	1 200 patients
Europe	28 sites	850 patients
Asie-Pacifique	19 sites	550 patients

TG Therapeutics, Inc. (TGTX) - Matrice Ansoff: développement de produits

Avancez des essais cliniques en cours pour les thérapies combinées dans les tumeurs malignes hématologiques

Depuis le quatrième trimestre 2022, TG Therapeutics a signalé 5 essais cliniques actifs dans les tumeurs malignes hématologiques, avec un investissement total de 38,7 millions de dollars en recherche et développement.

Essai clinique	Phase	Coût estimé	Inscription des patients
Étude de combinaison Umbrasib	Phase 3	12,5 millions de dollars	247 patients
Essai de lymphome TG-1701	Phase 2	9,3 millions de dollars	165 patients

Investissez dans la recherche pour étendre les indications du portefeuille de médicaments existants

En 2022, TG Therapeutics a alloué 45,2 millions de dollars spécifiquement pour la recherche d'expansion des indications de médicament.

• Indications approuvées du courant umbrasib: 2
• De nouvelles indications potentielles en cours de recherche: 4
• Partners de collaboration de recherche: 3 établissements universitaires

Développer de nouvelles thérapies ciblées pour des sous-types de cancer spécifiques

Les dépenses de R&D pour de nouvelles thérapies ciblées ont atteint 27,6 millions de dollars en 2022.

Cible thérapeutique	Sous-type de cancer	Étape de recherche	Valeur marchande potentielle
TG-1701	Lymphome à cellules B	Préclinique	350 millions de dollars

Améliorer les formulations de médicaments pour améliorer l'expérience des patients et l'efficacité du traitement

Investissement dans les améliorations de la formulation des médicaments: 8,4 millions de dollars en 2022.

• Projets d'optimisation de la formulation: 3
• Demandes de brevet déposées: 2
• Améliorations ciblées de l'expérience du patient: réduction de la fréquence de dosage, amélioration de la biodisponibilité

Tirez parti des plateformes de recherche existantes pour créer des traitements en oncologie de nouvelle génération

Investissement total de la plate-forme de recherche: 22,9 millions de dollars en 2022.

Plateforme de recherche	Focus technologique	Nouvelles thérapies potentielles	Chronologie du développement estimé
Plate-forme d'inhibition de la kinase	Thérapie moléculaire ciblée	2 nouvelles thérapies potentielles	3-5 ans

TG Therapeutics, Inc. (TGTX) - Matrice Ansoff: diversification

Explorer les acquisitions potentielles dans des zones thérapeutiques en oncologie complémentaires

TG Therapeutics a acquis Microbiome Therapeutics en septembre 2021 pour 12,5 millions de dollars en actions. Le portefeuille en oncologie de la société comprend Umbrasib, approuvé par la FDA en 2021 avec un potentiel de marché estimé de 300 à 400 millions de dollars par an.

Cible d'acquisition	Valeur potentielle	Focus thérapeutique
Startup d'oncologie de précision	50-75 millions de dollars	Thérapies contre le cancer ciblées
Cabinet de recherche d'immunothérapie	40 à 60 millions de dollars	Immunologie du cancer

Étudiez les opportunités en médecine de précision et en traitements sur le cancer personnalisés

TG Therapeutics a investi 18,2 millions de dollars dans la recherche en médecine de précision en 2022. Le pipeline de R&D actuel se concentre sur les thérapies ciblées moléculaires avec des coûts de développement estimés de 45 à 55 millions de dollars par an.

• Investissement de technologie de diagnostic moléculaire: 12,5 millions de dollars
• Développement de l'algorithme de traitement personnalisé: 6,7 millions de dollars
• Plateforme de dépistage génomique: 3,9 millions de dollars

Développer des capacités de recherche dans des domaines de la maladie adjacente comme l'immunologie

Budget de recherche sur l'immunologie pour 2023: 22,3 millions de dollars. Le portefeuille de brevets à l'immunologie actuelle comprend 17 brevets enregistrés avec une valeur commerciale estimée de 85 à 95 millions de dollars.

Domaine de recherche	Investissement	Dénombrement des brevets
Maladies auto-immunes	8,5 millions de dollars	6 brevets
Conditions inflammatoires	7,2 millions de dollars	5 brevets

Créer des collaborations stratégiques avec les institutions de recherche en biotechnologie

Collaboration Investments en 2022: 15,6 millions de dollars. Les partenariats de recherche actuels comprennent la Harvard Medical School et l'Université Johns Hopkins.

• Valeur de partenariat de la Harvard Medical School: 5,3 millions de dollars
• Collaboration Johns Hopkins: 4,7 millions de dollars
• Autres partenariats institutionnels: 5,6 millions de dollars

Investissez dans des technologies émergentes comme la thérapie génique et les traitements moléculaires ciblés

Budget de recherche sur la thérapie génique pour 2023: 28,4 millions de dollars. Coûts de développement du traitement moléculaire ciblé: 35,6 millions de dollars.

Technologie	Investissement	Marché potentiel
Thérapie génique	28,4 millions de dollars	500 à 600 millions de dollars
Traitements moléculaires ciblés	35,6 millions de dollars	450 à 550 millions de dollars

TG Therapeutics, Inc. (TGTX) - Ansoff Matrix: Market Penetration

You're looking at the core strategy for TG Therapeutics, Inc. (TGTX) right now: taking the existing product, Briumvi, and driving deeper into the established US relapsing Multiple Sclerosis (RMS) market. This is about maximizing adoption where you already have approval.

The revenue trajectory shows the penetration in action:

Period	BRIUMVI U.S. Net Product Revenue	Sequential Growth
Q1 2025	$119.7 million	N/A
Q2 2025	$138.8 million	16% over Q1 2025
Q3 2025	$152.9 million	10% over Q2 2025
Full Year 2025 Target (Raised Nov 2025)	Approximately $585 million	N/A

The nine months ended September 30, 2025, saw U.S. net product revenue for Briumvi reach $411.4 million, a significant increase from the $206.4 million reported for the same period in 2024. The full-year 2025 global revenue target was raised to approximately $600 million as of November 2025. The US RMS patient pool is estimated to be nearly 1 million people, with about 85% initially diagnosed with relapsing-remitting MS (RRMS).

Increase Briumvi market share in US relapsing MS.

The goal here is to capture a larger slice of the market where Briumvi is already approved. The company has stated a long-term goal of Briumvi becoming the number one prescribed anti-CD20 treatment based on dynamic market share. The total US MS therapeutics market, as part of the broader top 20 MS drugs generating $20.30 billion in sales in 2024, represents a substantial opportunity for share gains.

Expand sales force and physician education on Briumvi's 1-hour infusion time.

You saw the commercial infrastructure scale up ahead of 2025. The sales force was doubled during 2024. As of early 2025, this expanded force covered approximately half of the 550 centers that TG Therapeutics believes account for 70-80% of the total US MS market. Education efforts center on differentiating factors, such as the potential for a consolidated dose regimen being evaluated, which aims to simplify the treatment schedule compared to standard dosing.

Negotiate favorable formulary access with major US payers.

The Company actively contracts with private payer organizations, including insurance companies and pharmacy benefit managers, to secure utilization-based rebates and favorable formulary status. The risk of failure to obtain and maintain payer coverage remains a factor in commercial execution.

Target high-volume MS treatment centers for deeper adoption.

The commercial strategy focuses on the core group of high-prescribing centers. The initial sales force deployment targeted the 550 centers representing the bulk of the US market share. Deeper adoption means increasing the frequency of engagement within these key accounts, building on the clinical data showing that 89.9% of patients were free from 24-week confirmed disability progression after 6 years of continuous treatment in an open-label extension study.

Drive patient adherence programs to maximize recurring revenue.

TG Therapeutics supports US patients through the BRIUMVI Patient Support program, which is described as flexible to support the treatment journey. Maximizing recurring revenue depends on patients staying on therapy, which is a key function of these support services, though specific adherence metrics like persistence rates are not publicly detailed in the latest reports. The company notes the risk that trends in prescriptions are not maintained or that prescriptions are not filled.

Here are key operational metrics related to the product and patient experience:

• Decrease in immunoglobulin M (IgM) was reported in 0.6% of BRIUMVI-treated patients in RMS clinical trials.
• Infusion reactions incidence was 48% in MS clinical trials with reaction-limiting premedication prior to each infusion.
• Serious infusion reactions requiring hospitalization occurred in 0.6% of BRIUMVI-treated patients.

Finance: review Q4 2025 sales projections against the $585 million target by next Tuesday.

TG Therapeutics, Inc. (TGTX) - Ansoff Matrix: Market Development

You're looking at how TG Therapeutics, Inc. (TGTX) is pushing Briumvi into new territories, which is the Market Development quadrant of the Ansoff Matrix. This isn't about a new drug; it's about taking the existing, FDA-approved Briumvi and getting it into the hands of patients outside the US, primarily through partnerships.

Secure Briumvi regulatory approval in major European Union countries.

The groundwork for EU market development is solid, though the initial approval wasn't in 2025. The European Commission (EC) granted approval for BRIUMVI in June 2023 for adult patients with relapsing forms of multiple sclerosis (RMS) who have active disease defined by clinical or imaging features. This centralized marketing authorization is valid across all European Union (EU) Member States, plus Iceland, Norway, and Liechtenstein. TG Therapeutics started commercialization outside the U.S. with its partner, Neuraxpharm, following an agreement in August 2023. The first key market commercial launch in the EU, which was Germany, happened in the first quarter of 2024, which resulted in a $12.5 million milestone payment for TG Therapeutics, Inc. (TGTX). By the third quarter of 2025, approvals expanded beyond the initial EU/UK/Switzerland/Australia cluster to include Kuwait and the United Arab Emirates.

The financial results from the U.S. launch are clearly fueling this international push. Here's the quick math on the U.S. performance that underpins the global strategy:

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
BRIUMVI U.S. Net Product Revenue	$119.7 million	$138.8 million	$152.9 million
Year-over-Year Growth (Q2 2025 vs Q2 2024)	Approximately 137% (Q1 2025 vs Q1 2024)	91%	84% (Q3 2025 vs Q3 2024)

This momentum led to raised guidance for the year. The full-year 2025 BRIUMVI U.S. net revenue target was increased to approximately $570 - $575 million, up from an earlier projection of about $525 million. The total global revenue projection for the full year 2025 was also lifted to approximately $585 million. That's real money supporting the next steps.

Partner with local distributors to launch Briumvi in Japan and defintely Canada.

While the European launch is underway with Neuraxpharm, the next phase involves securing distribution partners for key North American and Asian markets. The strategy calls for leveraging local expertise to navigate the distinct regulatory and commercial landscapes in Japan and Canada. Currently, the search results confirm the focus on the EU, UK, Switzerland, and Australia, but don't detail specific 2025 partnership agreements or launch timelines for Japan or Canada. Still, the success in Europe sets the blueprint for these future partner-led launches.

Seek World Health Organization prequalification for global access initiatives.

Seeking World Health Organization (WHO) prequalification is a critical step for accessing global access initiatives, often involving public health tenders in lower- and middle-income countries. This process is distinct from the regulatory approvals sought in major developed markets like the EU or US. There are no specific financial or statistical updates regarding a WHO prequalification application or status as of the third quarter of 2025 reports. This remains a future action item to unlock a different segment of the global market.

Initiate trials to support Briumvi approval in new geographic regions like Latin America.

Expanding into new geographic regions often requires local clinical data or specific regulatory submissions. While the focus in late 2025 was heavily on optimizing the existing IV formulation and developing the subcutaneous version, the overall strategy includes broadening the use of Briumvi. You should watch for announcements regarding:

• Enrollment continuation in the ongoing clinical trial evaluating Briumvi in autoimmune diseases outside of Multiple Sclerosis.
• Data supporting the subcutaneous formulation, which commenced a Phase 3 trial enrollment in September 2025.
• Initiation of a pivotal program based on improved dosing regimens, aiming for enhanced patient experience.

Latin America market entry would likely follow regulatory filings supported by the global data package, but specific trial initiation dates for that region weren't detailed in the latest financial releases.

Finance: draft 13-week cash view by Friday.

TG Therapeutics, Inc. (TGTX) - Ansoff Matrix: Product Development

You're looking at the engine room of TG Therapeutics, Inc.'s future growth-the Product Development pipeline. This is where the current success of Briumvi gets extended, optimized, and pushed into new territories. The investment here is substantial, as seen in the financial filings.

For the three months ended September 30, 2025, Total Research and Development (R&D) expense increased, primarily due to manufacturing and development costs related to subcutaneous ublituximab and increased clinical trial expenses across the pipeline. For the first nine months of 2025, the total R&D expense reflected these investments, building on the $46.4 million in R&D expense reported for the first quarter of 2025 alone. The target operating expense for the full year 2025, excluding non-cash compensation and cost of goods sold, was approximately $300 million.

The focus is clearly on maximizing the value of Briumvi and advancing the next wave of assets.

Invest in clinical trials for Briumvi in other autoimmune indications, like NMOSD.

TG Therapeutics, Inc. is continuing enrollment in the ongoing clinical trial evaluating Briumvi in autoimmune diseases outside of Multiple Sclerosis (MS). Furthermore, the pipeline includes azer-cel for progressive MS, with enrollment continuing in the Phase 1 clinical trial for this asset in autoimmune diseases, starting with progressive forms of MS. The company is also exploring indications such as myasthenia gravis.

Develop a subcutaneous formulation of Briumvi for patient convenience.

This is a major near-term catalyst. TG Therapeutics, Inc. began enrolling patients in September 2025 for a Phase 3 trial to evaluate a subcutaneous (subcu) formulation of Briumvi. This pivotal trial is designed to support a potential approval in 2028. The study compares the subcu version against the current intravenous (IV) Briumvi, testing two dosing schedules: every 8 week and every 12 week regimens. The goal is for the subcu version to be self-administered at least every other month. The manufacturing expenses for this subcutaneous development work were a primary driver for the R&D expense increase in Q1 2025.

Advance the early-stage pipeline assets toward Phase 2 data readout.

The company is actively advancing its pipeline, which includes the continued enrollment in the Phase 1 trial for azer-cel in progressive MS. The overall R&D spend increase in Q3 2025 reflects these continued clinical trial expenses.

Research combination therapies using Briumvi and other MS treatments.

TG Therapeutics, Inc. is focused on enhancing the patient experience with IV Briumvi through trials like ENHANCE. This includes evaluating the potential to consolidate the day 1 and day 15 infusions into a single 600-milligram infusion on day 1 within a Phase III cohort of the ENHANCE trial. Data from the ENHANCE study on modified dosing regimens were presented at ECTRIMS 2025.

Explore lower-dose Briumvi maintenance regimens to reduce treatment burden.

The ongoing Phase 3 trial for subcutaneous Briumvi inherently explores maintenance regimens, testing every 8 week and every 12 week subcutaneous dosing against the current IV schedule. The current IV Briumvi is administered twice a year following the starting dose, with the subsequent infusion being a one-hour infusion. Long-term data from the ULTIMATE OLE studies show durable efficacy, with 89.9% of patients free from disability progression after 6 years of continuous treatment, and an annualized relapse rate of 0.012 during year 6.

Here's a snapshot of the key development activities and associated financial context:

Development Activity	Metric/Status	Financial Context (2025)
Subcutaneous Briumvi Phase 3 Trial	Enrollment commenced September 2025	R&D expense increase attributed to manufacturing/development costs
IV Briumvi Optimization (ENHANCE)	Testing single 600mg infusion on Day 1	Total R&D expense for Q1 2025 was $46.4 million
Briumvi Durability (MS)	6-year disability progression-free rate: 89.9%	Full Year 2025 Target Operating Expense: approx. $300 million
Pipeline Asset (azer-cel)	Phase 1 enrollment continuing for progressive MS	Total OpEx (R&D + SG&A) for Q2 2025 was approx. $71 million

The company is also focused on simplifying the IV regimen and advancing the subcutaneous formulation, all while managing the associated costs reflected in the R&D spend.

• Briumvi IV infusion reaction incidence (with premedication): 48%.
• Briumvi serious infusion reaction rate: 0.6%.
• Subcutaneous Briumvi dosing evaluation: Every 8 weeks or Every 12 weeks.
• Estimated people with MS in the U.S.: Nearly 1 million.

TG Therapeutics, Inc. (TGTX) - Ansoff Matrix: Diversification

You're looking at how TG Therapeutics, Inc. can grow beyond the strong foundation built by BRIUMVI in the relapsing Multiple Sclerosis (RMS) market. Honestly, relying on one product, even one that brought in $152.9 million in U.S. net revenue in the third quarter of 2025, is a risk you need to manage through diversification.

Acquire a complementary, late-stage asset outside of the MS/autoimmune space.

The company's roots are in B-cell diseases, which naturally extends into oncology, specifically hematologic malignancies, which was the initial focus before the pivot to MS. This existing expertise is a natural bridge for diversification. For instance, the Azer-cel CAR-T program, currently in a Phase 1 study for primary progressive multiple sclerosis (PPMS), represents a platform that could be leveraged into oncology indications, which is where the therapy was initially developed. The acquisition of the development rights for Azer-Cel for autoimmune diseases and other indications outside of oncology from Precision BioSciences in January 2024 involved an upfront and near-term milestone payment of $17.5 million to Precision BioSciences, showing a willingness to invest in non-MS platforms. The total revenue for TG Therapeutics, Inc. in Q3 2025 was $161.7 million, which gives you a sense of the scale of the revenue base supporting this kind of external investment.

Establish a new therapeutic area focus, perhaps in oncology or rare diseases.

TG Therapeutics, Inc. is already positioned to pivot back toward oncology, given its history with B-cell cancer therapies. The current pipeline includes Azer-cel, an allogeneic CD19-directed CAR T cell therapy. While the current Phase 1 study is in PPMS, the underlying technology targets CD19-expressing B-cells, a common target in B-cell malignancies. The company's gross margin stands at 86.96%, which suggests operational efficiency that can fund R&D in new areas. The total operating expenses (excluding non-cash compensation and cost of goods sold) are projected to be around $300 million to $320 million for the full year 2025, showing the scale of internal investment required for pipeline advancement.

License a novel gene therapy platform for non-MS applications.

The acquisition of the Azer-cel platform rights in January 2024 is the concrete evidence of this strategy in action, even if the initial application was MS-related. This platform acquisition suggests a strategy of in-licensing novel modalities rather than solely relying on internal antibody development. The company's cash position as of September 30, 2025, was $178.3 million, which provides a buffer for future licensing opportunities, though it is down from $278.9 million on June 30, 2025. The total revenue guidance for the full year 2025 was raised to approximately $600 million globally, which will replenish the cash reserves.

Form a strategic joint venture to co-develop a non-biologic drug candidate.

TG Therapeutics, Inc. has a proven model for external collaboration, which you can see with the ex-US commercialization agreement for BRIUMVI with Neuraxpharm. This partnership, established in 2023, had a total deal size of approximately ~$650 million, including over $150 million in upfront and near-term milestones. In Q3 2025, sales of BRIUMVI to Neuraxpharm accounted for $6.4 million of the product revenue, showing the ongoing financial benefit of the JV structure. Furthermore, the company has a Master Services Agreement with Samsung Biologics Co., Ltd., effective February 21, which speaks to leveraging external manufacturing capabilities, a step short of a full co-development JV but indicative of the partnership mindset. The total product revenues for the nine months ended September 30, 2025, were $417.8 million.

Leverage existing manufacturing capacity for contract development and manufacturing.

While the search results don't give a specific utilization percentage, the R&D expense increase is tied to manufacturing. The R&D expense for the three months ended June 30, 2025, was $31.8 million, primarily due to manufacturing and development costs for the subcutaneous BRIUMVI work. This indicates internal manufacturing resources are being utilized for pipeline advancement, which could be scaled for contract manufacturing if capacity exceeds internal needs. The company's three-year revenue growth rate is 242.7%, suggesting a rapid scaling of operations that would necessitate efficient use of all assets, including manufacturing. The SG&A expense for the nine months ended September 30, 2025, was $169.3 million, reflecting the costs associated with commercialization that would need to be offset by any new revenue streams from contract manufacturing.

Metric	Value (Latest Reported)	Period	Context
Total Revenue	$161.7 million	Q3 2025	Total revenue for the quarter.
BRIUMVI U.S. Net Revenue	$152.9 million	Q3 2025	Primary revenue driver.
Cash, Cash Equivalents, Investments	$178.3 million	September 30, 2025	Balance sheet liquidity.
Full Year 2025 Global Revenue Guidance	Approx. $600 million	Raised Guidance	Updated expectation for the year.
Gross Margin	86.96%	Latest Reported	Operational efficiency metric.
Azer-Cel Acquisition Cost (Upfront/Near-Term)	$17.5 million	January 2024	Investment in a non-antibody platform.
Neuraxpharm Partnership Total Deal Size	Approx. ~$650M	August 2023	Example of strategic joint venture structure.

The company is definitely focused on expanding its B-cell expertise, but the next big move will be translating that into a new, non-MS revenue stream. Finance: draft 13-week cash view by Friday.