TG Therapeutics, Inc. (NASDAQ:TGTX) Q1 2023 Earnings Call Transcript

Matt Kaplan: Hi. Good morning, guys, and congrats in the quarter. I guess just starting off a little bit, can you elaborate a little bit more on your ex-US plans, and how you’re thinking about partnering versus going it alone?

Mike Weiss: Yes. So, I mean, again, we are just continuing to do the analysis of what the ex-US market looks like. I mean, we’ve kind of narrowed it down that if we’re going alone, we’d probably focus primarily in Germany where we think the vast majority of the ex-US market resides. There’s obviously more global opportunity than that. But again, if it’s going to be a go it alone strategy, we’ll probably be more focused and at least start there. And obviously, there’s other European countries we could add on pretty easily. On the partnership side, look, we continue to evaluate potential partners. Obviously, one of the biggest concerns we have is doing a partnership when we recognize the value we can achieve for a partnership is going to be less than we probably get for the ex-US rights in a strategic relationship.

So, it’s important to us to manage that, make sure we have flexibility with the ex-US territory. So, I think, again, we’re looking into and we’re evaluating the opportunities available to us, both alone and with partners, and we’re getting close. Hopefully, we’re going to make that decision in the coming months, and again, like we said in the prepared remarks, hopefully to be prepared to launch later this year.

Matt Kaplan: Okay. And then in terms of maybe a question for Adam, how you’re messaging and specifically I guess the infusion times and the current label, the product, is initially resonating with the prescribers out there in the field. What type of feedback are you getting?

Adam Waldman: Yes, thanks, Matt. I think where we’re focused on is feedback that we’ve gotten from our customers is that it’s really the efficacy combined with the efficiency. So, the efficacy of the drug is important to all physicians that are taking care of patients. But what BRIUMVI adds is the efficiency of a faster infusion and overall infusion experience. So, that’s what’s resonating with customers. Of course, the overall experience that they have with the infusion itself, we’ll certainly be tracking and watching, as we noted before. And we think the consistency of being able to – in our trial, if you remember, 95% of the infusions were delivered without interruption. And that’s an important thing for us to continue to watch in the real world and make sure that that’s consistent with the trial results. But if that does play out, that will also be a very important thing to physicians and infusion centers going forward.

Matt Kaplan: Okay, that’s helpful. And then the last question in terms of IMS and Symphony databases, how should we think about the capture rate there kind of now and going forward and the usefulness of those sources?

Mike Weiss: Yes. I’ll jump in for a quick commentary, and then Adam, provide some more. I think in the early days, people should use those resources with severe caution. I don’t think they tracked very well early on. I assume at some point later on in the launch, probably closer to third, fourth quarter, into next year, there’ll be an established pattern and we can get a sense of what they’re actually capturing versus what’s actually happening. But I think personally, I would use those numbers with extreme caution. Adam, any thoughts?

Adam Waldman: Yes. I mean, the only thing I would add is that we do have a direct distribution program that is not captured in the Symphony data, which makes it even more difficult to interpret those numbers. So, I agree with Mike’s comments.

Matt Kaplan: Thanks, and congrats again.

Operator: Thank you. Our next questions come from the line of Mayank Mamtani with B. Riley. Please proceed with your questions.