TG Therapeutics
Commercializes BRIUMVI while developing B-cell therapies for immune-mediated diseases.
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Profile
Sells BRIUMVI, an infused anti-CD20 therapy for adults with relapsing multiple sclerosis, primarily through U.S. specialty distributors while earning supply, royalty, and support revenue from Neuraxpharm-led markets abroad. Revenue depends overwhelmingly on one product as development expands into new formulations, immune-mediated indications, and azer-cel cell therapy.
Commercializes BRIUMVI, an anti-CD20 antibody approved for adults with relapsing forms of multiple sclerosis. The commercial model combines direct U.S. marketing with sales through specialty distributors; Neuraxpharm commercializes the medicine in several markets outside the United States, generating supply, royalty, and regulatory-support revenue.
Lifecycle development covers a simplified intravenous initiation regimen and a subcutaneous formulation. Clinical programs also test BRIUMVI in myasthenia gravis and treatment-resistant schizophrenia, while azer-cel, an allogeneic CAR T therapy, is being studied in progressive multiple sclerosis and other B-cell disorders.
Revenue remains overwhelmingly tied to U.S. BRIUMVI sales. Manufacturing is outsourced, ublituximab carries licensing royalties, overseas commercialization depends on Neuraxpharm, and pipeline expansion depends on clinical evidence and regulatory approval.
Company facts
Key statistics
Year to date +84.1% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 4, 2026 | H.C. Wainwright | Reiterate | Buy | $70 | $78 |
| Jun 22, 2026 | Jefferies | Reiterate | Buy | $83 | |
| May 6, 2026 | H.C. Wainwright | Target | $60 | $70 | |
| Jan 14, 2026 | Goldman Sachs | Target | $20 | $39 | |
| Oct 6, 2025 | H.C. Wainwright | Target | $55 | $60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.31 | $0.05 | −83.6% | $229.8M | $240.3M | +4.6% | −11.26% |
| May 6, 2026Q1 FY26 | $0.23 | $0.17 | −26.1% | $200.3M | $204.9M | +2.3% | +2.53% |
| Feb 26, 2026Q4 FY25 | $0.35 | $0.14 | −60.0% | $191.8M | $192.6M | +0.4% | −2.62% |
| Nov 3, 2025Q3 FY25 | $0.24 | $2.43 | +912.5% | $193.8M | $161.7M | −16.6% | +0.36% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $120.9M | $141.1M | $161.7M | $192.6M | $204.9M | $240.3M | |
| Gross profit | $105.3M | $122.2M | $133.6M | $154.4M | $171.4M | $199.1M | |
| Operating income | $8.6M | $34.8M | $29.4M | $50.5M | $34.8M | $21.7M | |
| Net income | $5.1M | $28.2M | $390.9M | $23.0M | $19.8M | $7.8M | |
| Diluted EPS | $0.03 | $0.17 | $2.43 | $0.14 | $0.12 | $0.05 | |
| Gross margin | 87.1% | 86.6% | 82.6% | 80.2% | 83.6% | 82.9% | |
| Operating margin | 7.1% | 24.7% | 18.2% | 26.2% | 17.0% | 9.0% |
Fiscal years (4-quarter sums)FY21 $6.7M · FY22 $2.8M · FY23 $233.7M · FY24 $329.0M · FY25 $616.3M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $552.2M · Total debt $754.4M · Total assets $1.64B · Shareholders' equity $604.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 153.08M · Float 135.10M · 88.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 22.05M | 14.40% | 13F | Aug 7, 2026 |
| Michael S. Weiss · director, officer: CEO | 9.78M | 6.39% | Form 4 | Jan 9, 2026 |
| Vanguard Portfolio Management LLC | 7.96M | 5.20% | 13F | Aug 13, 2026 |
| State Street Corp | 7.79M | 5.09% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 6.15M | 4.02% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 24, 2025 | Yann Echelard | director | −5,000 | $32.57 |
| Sep 11, 2025 | Sagar Lonial | director | −20,852 | $32.24 |
Peers
- Novartis (ADR)
Direct self-administered anti-CD20 rival in relapsing MS
- Biogen
Established MS franchise with high-efficacy infusion alternatives
- Bristol-Myers Squibb
Oral S1P RMS alternative competing with infusion anti-CD20 therapy
- Sanofi (ADR)
Established RMS DMTs plus BTK pressure in progressive MS
- Johnson & Johnson
Oral ponesimod option in relapsing MS treatment selection
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TG Therapeutics | $53.93 | +0.04% | $8.26B | 19.7 | 28.4 | 10.3 | +70.3% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Biogen | $218.19 | −0.14% | $32.28B | 38.7 | 16.5 | 3.2 | +3.4% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Median | 31.1 | 16.5 | 3.2 | +5.7% |