TG Therapeutics Awarded National Contract by the Department of Veterans Affairs for BRIUMVI as the Preferred Anti-CD20 for Relapsing Forms of Multiple Sclerosis

Rhea-AI Summary

TG Therapeutics, Inc. (NASDAQ: TGTX) has been awarded a national contract by the Department of Veterans Affairs for BRIUMVI as the preferred anti-CD20 therapy for patients with relapsing forms of multiple sclerosis. The contract, with a potential value of $186,776,520, signifies a significant milestone for the company in providing access to BRIUMVI to Veterans across the country.

Positive

• TG Therapeutics awarded a national contract by the Department of Veterans Affairs for BRIUMVI as the preferred anti-CD20 therapy for patients with relapsing forms of multiple sclerosis.
• The contract has a potential value of $186,776,520 and includes a base year ordering period from June 17, 2024, to June 16, 2025, with four one-year option periods.
• BRIUMVI offers a one-hour twice a year therapy for patients with relapsing forms of multiple sclerosis.
• Patients currently prescribed other anti-CD20 therapies may be switched to BRIUMVI at the discretion of their doctor.
• The contract signifies a vote of confidence in the value that BRIUMVI brings to patients with relapsing forms of multiple sclerosis.

Negative

• None.

Insights

Financial Analyst

The contract award to TG Therapeutics by the VA is a strong endorsement for BRIUMVI. Financially, it could translate into $186.8 million> in revenue over a five-year term, assuming complete uptake within the VA system. This represents a significant injection of predictable revenue, enhancing earnings visibility for investors. However, investor enthusiasm should be tempered by the realization that the full value is contingent on uptake rates and patient transition from other treatments. This deal may also provide competitive advantages by positioning BRIUMVI as a preferred treatment option within a captive market, possibly influencing non-VA prescribers. Over the longer term, the discount offered to the VA may establish a pricing benchmark that could impact profitability.

Healthcare Market Analyst

From a market standpoint, TG Therapeutics' contract stipulates BRIUMVI as a preferred option, which is likely to increase its market share in the anti-CD20 segment. This decision by the VA, a major healthcare provider, not only boosts the drug’s credibility but potentially catalyzes its adoption in the broader healthcare market. However, the full market impact depends on how healthcare providers outside the VA perceive this validation. The potential shift of current patients to BRIUMVI and the one-hour administration feature might influence patient and provider choices. This could disrupt the market dynamics, possibly leading competing products to reevaluate their strategies.

Pharmaceutical Industry Analyst

The unique selling proposition of BRIUMVI being the only one-hour, twice-yearly therapy post-initial dose could resonate well with both patients and providers, focusing on convenience and compliance. In addition, being the preferred treatment within the VA system might increase the likelihood of off-label use, expanding potential market segments. However, investors should monitor TG Therapeutics' capacity to meet the increased demand and maintain the quality and supply chain integrity, especially considering the scale and scope of the VA system.

NEW YORK, April 18, 2024 (GLOBE NEWSWIRE) -- TG Therapeutics, Inc. (NASDAQ: TGTX), announced that it has been awarded a national contract with the Department of Veterans Affairs (VA) for BRIUMVI® (ublituximab-xiiy) to be the preferred agent listed on the VA National Formulary for Anti-CD20 Antibody indications for patients with relapsing forms of multiple sclerosis (RMS).

Michael S. Weiss, Chief Executive Officer and Chairman of TG Therapeutics stated, “We are immensely proud to collaborate with the National VA Health System in bringing BRIUMVI to Veterans across the country afflicted with RMS at a significant discount. We believe this contract signifies a vote of confidence in the value that BRIUMVI brings to patients with RMS and are pleased that Veterans with MS will now have access to the only anti-CD20 therapy that offers a one-hour twice a year therapy, following the first dose.”

The contract period includes the base year ordering period of June 17, 2024 to June 16, 2025, as well as four one-year option periods that may be exercised unilaterally by the U.S. Government. Pursuant to the contract, BRIUMVI will be required for new patient starts unless clinically contraindicated. While not required, patients currently prescribed other agents in the anti-CD20 class may be switched over to BRIUMVI at the discretion of their doctor. The total award amount of the contract has a potential value of $186,776,520. This potential value assumes all MS patients estimated to be treated with anti-CD20 therapies by the VA annually, are treated with BRIUMVI each year for a five-year period at the contract price.

ABOUT BRIUMVI® (ublituximab-xiiy) 150 mg/6 mL Injection for IV
BRIUMVI is a novel monoclonal antibody that targets a unique epitope on CD20-expressing B-cells. Targeting CD20 using monoclonal antibodies has proven to be an important therapeutic approach for the management of autoimmune disorders, such as RMS. BRIUMVI is uniquely designed to lack certain sugar molecules normally expressed on the antibody. Removal of these sugar molecules, a process called glycoengineering, allows for efficient B-cell depletion at low doses.

BRIUMVI is indicated for the treatment of adults with relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

A list of authorized specialty distributors can be found at www.briumvi.com.

IMPORTANT SAFETY INFORMATION

Contraindications: BRIUMVI is contraindicated in patients with:

• Active Hepatitis B Virus infection
• A history of life-threatening infusion reaction to BRIUMVI

WARNINGS AND PRECAUTIONS

Infusion Reactions: BRIUMVI can cause infusion reactions, which can include pyrexia, chills, headache, influenza-like illness, tachycardia, nausea, throat irritation, erythema, and an anaphylactic reaction. In MS clinical trials, the incidence of infusion reactions in BRIUMVI-treated patients who received infusion reaction-limiting premedication prior to each infusion was 48%, with the highest incidence within 24 hours of the first infusion. 0.6% of BRIUMVI-treated patients experienced infusion reactions that were serious, some requiring hospitalization.

Observe treated patients for infusion reactions during the infusion and for at least one hour after the completion of the first two infusions unless infusion reaction and/or hypersensitivity has been observed in association with the current or any prior infusion. Inform patients that infusion reactions can occur up to 24 hours after the infusion. Administer the recommended pre-medication to reduce the frequency and severity of infusion reactions. If life-threatening, stop the infusion immediately, permanently discontinue BRIUMVI, and administer appropriate supportive treatment. Less severe infusion reactions may involve temporarily stopping the infusion, reducing the infusion rate, and/or administering symptomatic treatment.

Infections: Serious, life-threatening or fatal, bacterial and viral infections have been reported in BRIUMVI-treated patients. In MS clinical trials, the overall rate of infections in BRIUMVI-treated patients was 56% compared to 54% in teriflunomide-treated patients. The rate of serious infections was 5% compared to 3% respectively. There were 3 infection-related deaths in BRIUMVI-treated patients. The most common infections in BRIUMVI-treated patients included upper respiratory tract infection (45%) and urinary tract infection (10%). Delay BRIUMVI administration in patients with an active infection until the infection is resolved.

Consider the potential for increased immunosuppressive effects when initiating BRIUMVI after immunosuppressive therapy or initiating an immunosuppressive therapy after BRIUMVI.

Hepatitis B Virus (HBV) Reactivation: HBV reactivation occurred in an MS patient treated with BRIUMVI in clinical trials. Fulminant hepatitis, hepatic failure, and death caused by HBV reactivation have occurred in patients treated with anti-CD20 antibodies. Perform HBV screening in all patients before initiation of treatment with BRIUMVI. Do not start treatment with BRIUMVI in patients with active HBV confirmed by positive results for HBsAg and anti-HB tests. For patients who are negative for surface premedantigen [HBsAg] and positive for HB core antibody [HBcAb+] or are carriers of HBV [HBsAg+], consult a liver disease expert before starting and during treatment.

Progressive Multifocal Leukoencephalopathy (PML): Although no cases of PML have occurred in BRIUMVI-treated MS patients, JCV infection resulting in PML has been observed in patients treated with other anti-CD20 antibodies and other MS therapies.

If PML is suspected, withhold BRIUMVI and perform an appropriate diagnostic evaluation. Typical symptoms associated with PML are diverse, progress over days to weeks, and include progressive weakness on one side of the body or clumsiness of limbs, disturbance of vision, and changes in thinking, memory, and orientation leading to confusion and personality changes.

MRI findings may be apparent before clinical signs or symptoms; monitoring for signs consistent with PML may be useful. Further investigate suspicious findings to allow for an early diagnosis of PML, if present. Following discontinuation of another MS medication associated with PML, lower PML-related mortality and morbidity have been reported in patients who were initially asymptomatic at diagnosis compared to patients who had characteristic clinical signs and symptoms at diagnosis.

If PML is confirmed, treatment with BRIUMVI should be discontinued.

Vaccinations: Administer all immunizations according to immunization guidelines: for live or live-attenuated vaccines at least 4 weeks and, whenever possible at least 2 weeks prior to initiation of BRIUMVI for non-live vaccines. BRIUMVI may interfere with the effectiveness of non-live vaccines. The safety of immunization with live or live-attenuated vaccines during or following administration of BRIUMVI has not been studied. Vaccination with live virus vaccines is not recommended during treatment and until B-cell repletion.

Vaccination of Infants Born to Mothers Treated with BRIUMVI During Pregnancy: In infants of mothers exposed to BRIUMVI during pregnancy, assess B-cell counts prior to administration of live or live-attenuated vaccines as measured by CD19⁺ B-cells. Depletion of B-cells in these infants may increase the risks from live or live-attenuated vaccines. Inactivated or non-live vaccines may be administered prior to B-cell recovery. Assessment of vaccine immune responses, including consultation with a qualified specialist, should be considered to determine whether a protective immune response was mounted.

Fetal Risk: Based on data from animal studies, BRIUMVI may cause fetal harm when administered to a pregnant woman. Transient peripheral B-cell depletion and lymphocytopenia have been reported in infants born to mothers exposed to other anti-CD20 B-cell depleting antibodies during pregnancy. A pregnancy test is recommended in females of reproductive potential prior to each infusion. Advise females of reproductive potential to use effective contraception during BRIUMVI treatment and for 6 months after the last dose.

Reduction in Immunoglobulins: As expected with any B-cell depleting therapy, decreased immunoglobulin levels were observed. Decrease in immunoglobulin M (IgM) was reported in 0.6% of BRIUMVI-treated patients compared to none of the patients treated with teriflunomide in RMS clinical trials. Monitor the levels of quantitative serum immunoglobulins during treatment, especially in patients with opportunistic or recurrent infections, and after discontinuation of therapy until B-cell repletion. Consider discontinuing BRIUMVI therapy if a patient with low immunoglobulins develops a serious opportunistic infection or recurrent infections, or if prolonged hypogammaglobulinemia requires treatment with intravenous immunoglobulins.

Most Common Adverse Reactions: The most common adverse reactions in RMS trials (incidence of at least 10%) were infusion reactions and upper respiratory tract infections.

Physicians, pharmacists, or other healthcare professionals with questions about BRIUMVI should visit www.briumvi.com.

ABOUT BRIUMVI PATIENT SUPPORT
BRIUMVI Patient Support is a flexible program designed by TG Therapeutics to support U.S. patients through their treatment journey in a way that works best for them. More information about the BRIUMVI Patient Support program can be accessed at www.briumvipatientsupport.com.

ABOUT MULTIPLE SCLEROSIS
Relapsing multiple sclerosis (RMS) is a chronic demyelinating disease of the central nervous system (CNS) and includes people with relapsing-remitting multiple sclerosis (RRMS) and people with secondary progressive multiple sclerosis (SPMS) who continue to experience relapses. RRMS is the most common form of multiple sclerosis (MS) and is characterized by episodes of new or worsening signs or symptoms (relapses) followed by periods of recovery. It is estimated that nearly 1 million people are living with MS in the United States and approximately 85% are initially diagnosed with RRMS.^1,2 The majority of people who are diagnosed with RRMS will eventually transition to SPMS, in which they experience steadily worsening disability over time. Worldwide, more than 2.3 million people have a diagnosis of MS.¹

ABOUT TG THERAPEUTICS
TG Therapeutics is a fully integrated, commercial stage, biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline including several investigational medicines, TG has received U.S. Food and Drug Administration (FDA) approval for BRIUMVI® (ublituximab-xiiy), for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, as well as approval by the European Commission (EC) and the Medicines and Healthcare Products Regulatory Agency (MHRA) for BRIUMVI to treat adult patients with RMS who have active disease defined by clinical or imaging features in Europe and the United Kingdom, respectively. For more information, visit www.tgtherapeutics.com, and follow us on X (formerly Twitter) @TGTherapeutics and on LinkedIn.

BRIUMVI® is a registered trademark of TG Therapeutics, Inc.

Cautionary Statement
This press release contains forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. In addition to the risk factors identified from time to time in our reports filed with the U.S. Securities and Exchange Commission (SEC), factors that could cause our actual results to differ materially include the below.

Such forward looking statements include but are not limited to statements regarding expectations for the commercial launch of BRIUMVI® (ublituximab-xiiy) for RMS in the United States; anticipated healthcare professional (HCP) and patient acceptance and use of BRIUMVI for the approved indications; and the potential impact of the contract awarded by the Department of Veterans Affairs.

Additional factors that could cause our actual results to differ materially include the following: the Company’s ability to continue to maintain a commercial infrastructure for BRIUMVI, and to successfully market and sell BRIUMVI; the failure to maintain the contract with the VA; the risk that the VA does not exercise any or all of the option year periods; the risk that the total potential award amount from the contract with the VA is not realized due to a high degree of expected variability in the assumptions that underly the total contract amount, including but not limited to, the VA does not exercise their option to continue the contract beyond year one, the total number of estimated MS patients treated by the VA with an anti-CD20 therapy each year is less than estimated, that fewer than all patients new to anti-CD20 will go on BRIUMVI and fewer than all the patients currently treated with an anti-CD20 at the VA will be switched to BRIUMVI, and the projected vial count per patient per year is less than assumed by the VA; the risk that HCP or patient interest in BRIUMVI will not be sufficient; the risk that the Company’s BRIUMVI U.S. net revenue targets will not be achieved; the failure to obtain and maintain requisite regulatory approvals, including the risk that the Company fails to satisfy post-approval regulatory requirements, the potential for variation from the Company’s projections and estimates about the potential market for BRIUMVI due to a number of factors, including, further limitations that regulators may impose on the required labeling for BRIUMVI (such as modifications, resulting from safety signals that arise in the post-marketing setting or in the long-term extension study from the ULTIMATE I and II clinical trials); the Company’s ability to meet post-approval compliance obligations (on topics including but not limited to product quality, product distribution and supply chain, pharmacovigilance, and sales and marketing); the Company’s reliance on third parties for manufacturing, distribution and supply, and other support functions for its clinical and commercial products, including BRIUMVI, and the ability of the Company and its manufacturers and suppliers to produce and deliver BRIUMVI to meet the market demand for BRIUMVI; and general political, economic and business conditions. Further discussion about these and other risks and uncertainties can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in our other filings with the SEC.

Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at www.tgtherapeutics.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.

CONTACT:

Investor Relations

Email: ir@tgtxinc.com
Telephone: 1.877.575.TGTX (8489), Option 4

Media Relations:

Email: media@tgtxinc.com
Telephone: 1.877.575.TGTX (8489), Option 6

^{1. MS Prevalence. National Multiple Sclerosis Society website. https://www.nationalmssociety.org/About-the-Society/MS-Prevalence. Accessed October 26, 2020.
2. Multiple Sclerosis International Federation, 2013 via Datamonitor p. 236.}

FAQ

What contract has TG Therapeutics been awarded by the Department of Veterans Affairs?

TG Therapeutics has been awarded a national contract by the Department of Veterans Affairs for BRIUMVI as the preferred anti-CD20 therapy for patients with relapsing forms of multiple sclerosis.

What is the potential value of the contract awarded to TG Therapeutics by the Department of Veterans Affairs?

The potential value of the contract awarded to TG Therapeutics by the Department of Veterans Affairs is $186,776,520.

What therapy does BRIUMVI offer for patients with relapsing forms of multiple sclerosis?

BRIUMVI offers a one-hour twice a year therapy for patients with relapsing forms of multiple sclerosis.

Can patients currently prescribed other anti-CD20 therapies be switched to BRIUMVI?

Patients currently prescribed other anti-CD20 therapies may be switched to BRIUMVI at the discretion of their doctor.

What does the contract awarded by the Department of Veterans Affairs signify for TG Therapeutics?

The contract awarded by the Department of Veterans Affairs signifies a vote of confidence in the value that BRIUMVI brings to patients with relapsing forms of multiple sclerosis.