TG Therapeutics Inc. (TGTX) has reported a decrease in losses for the first quarter compared to the previous year, despite not meeting Wall Street's estimates. The company's net loss amounted to $10.707 million, or $0.07 per share, a contrast to the loss of $39.232 million, or $0.28 per share, from the same quarter of the previous year.
Average analyst predictions had anticipated the company to record a lesser loss of $0.04 per share, according to data compiled by Thomson Reuters. It should be noted that these estimates usually do not consider exceptional items.
A significant uptick was seen in the company's revenue for the quarter, which surged 713.5% to $63.474 million from $7.803 million during the same quarter last year.
Looking at the company's earnings under Generally Accepted Accounting Principles (GAAP), the first quarter saw a net loss of $10.707 million, improved from a loss of $39.232 million from last year. Similarly, earnings per share (EPS) improved to $0.07 from last year's first quarter EPS of $0.28. Finally, marked growth in revenue was noted for the quarter, increasing from $7.803 million last year to $63.474 million.
