TG Therapeutics, Inc. (NASDAQ:TGTX) Q3 2023 Earnings Call Transcript

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So again, we do think there’s a market opportunity. We think there’s something there. When you look at the 2 products that are available — sorry, one product is available and one product that we expect will be available at some point, we think there is room for a more tolerable, more convenient product opportunity. So not sure that we’ll get there but we think there’s an opening. We’ll just have to see if we can fit the gap.

Operator: Our last question is from Mike DiFiore with Evercore ISI.

Mike DiFiore: Congrats on the great quarter. Two for me, and I may have missed this, but regarding the J-Code, now that it’s fully established at most intuitions, can we expect more of a gradual ramp? Or have we hit like a maximal establishment as far as the J-Code goes? And then I have a follow-up.

Michael Weiss: Adam, do you want to go ahead with that one?

Adam Waldman: Yes. I mean I think the J-Code is a positive thing. I think we’re going to continue to see a steady growth and continued adds. But in general, it’s a good thing, provides confidence in reimbursement. And it’s a positive milestone to reach and now it has been fully sort of loaded into payer systems and ASP has been established. So we’re in good shape there, and we would expect to see continued steady growth.

Mike DiFiore: Got it. Got it. And then just to go back to the whole BTK competitiveness question. I thought your comments were interesting on how based on your research so far, physicians, they seem like they view BTKs as just another oral option for relapsing remitting MS but if the first — if Phase III data pans out and their efficacy is really good, either equal or on par to the anti-CD20 therapies. Why wouldn’t KOLs use these oral BTKs options instead? I mean, any color would be helpful there.

Michael Weiss: Yes. I mean, look, I think they will give them as options for patients. I think what we’ve heard and seen in the research is that patients do resonate toward an every 6-month treatment option. When I’ve talked to clinicians about our BTK in particular, and I’ve said, look, let’s say It’s just as good as the CD20 basis. So what, then they have to take a pill every day or twice a day? That’s not as attractive as an every 6-month infusion. The other thing is compliance, right? Orals have historically poor compliance. So in terms of real-world experience at BTKs, even if they look phenomenal in clinical trials, compliance will be a problem. It’s been for every oral drug. There’s some research that’s kind of [inaudible] at UT Southwestern with Dr. Darin Okuda, who collects unused oral meds for MS, and I think it’s collected.

I’m going to make up a number and I could be wrong but anywhere from 25 million to 50 million of unused oral meds. So it is a major issue, compliance. So again, I just don’t see it’s going to go in the oral class, I assume. Again, I could be wrong but based on the conversations that I’ve had with folks, unless it’s dramatically better than the CD20 even comparable activity to CD20 will just drop it into the oral bucket because for most of them, there’s nothing more convenient and nothing more assured than a 6-month IV infusion. So I believe that was the last question. Is that correct, operator?

Operator: Yes. There are no further questions at this time.

Michael Weiss: Excellent. Well, we’ve got two minutes to the market open. So I think we should bring this call to a conclusion. I just want to thank everyone again for joining us today. We feel really great about the launch and what we’ve done so far. Our team is really working super hard. They’re sincere about really helping folks with MS. I would say the feedback we’ve gotten from the patients has been really heartwarming, and also really provides the fuel for everyone at TG to do what we do every day. I think it’s also important that we recognize the HCPs who put their trust in TG and Briumvi. We really do believe it’s a best-in-class medicine and can offer real benefit to patients. As we close out the year, we’ll continue to work hard to drive adoption. We need the revenue targets we have set and build value in TG for our shareholders and our employees. With that, I’d like to conclude the call. Have a great day, everybody. Thank you.

Operator: This concludes today’s call. You may disconnect your lines at this time. Thank you for your participation.

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