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Friday 6 November 2026
Export TGTX’s income statement to Excel — free account
TG Therapeutics, Inc.
TGTX Healthcare Biotechnology
TG Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $616.3 million, up 87.3% from fiscal 2024.
- Revenue
- +70.3%
- EPS
- −73.7%
- Free cash flow
- +427.1%
- Total debt
- +204.2%
Quarter to June 2026, against a year earlier
58.27
0.29
+0.50%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 0 | 0 | 0 | 0 | 0 | 7 | 3 | 234 | 329 | 616 | 800 | +151.7% | 960 | 1,319 | 1,626 | +38.2% | |
| Gross margin, % | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 88.19 | 90.48 | 93.95 | 88.30 | 83.66 | 82.37 | (16.3) pt | ||||||
| EBT | (78) | (118) | (173) | (173) | (279) | (348) | (224) | 13 | 26 | 107 | 102 | n/m | ||||||
| EBT margin, % | (51,482.24) | (77,944.74) | (114,132.89) | (113,730.92) | (183,803.29) | (5,204.08) | (8,036.34) | 5.59 | 7.78 | 17.43 | 12.71 | +51,499.7 pt | ||||||
| Net income | (78) | (118) | (173) | (173) | (279) | (348) | (224) | 13 | 23 | 447 | 441 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 | 0.02 | 1.65 | 2.26 | 4.27 | 5.64 | +123.2% | |||||
| Earnings | (1.60) | (1.91) | (2.15) | (1.96) | (2.42) | (2.63) | (1.65) | 0.09 | 0.16 | 3.10 | 3.04 | n/m | ||||||
| Cash flow | (1.26) | (1.51) | (1.71) | (1.50) | (1.86) | (2.24) | (1.30) | (0.22) | (0.28) | (0.17) | 0.13 | (19.8%) | ||||||
| Capex | (0.01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (15.7%) | ||||||
| Free cash flow | (1.26) | (1.51) | (1.71) | (1.50) | (1.86) | (2.24) | (1.30) | (0.22) | (0.28) | (0.17) | 0.12 | (19.8%) | ||||||
| Book value | 0.73 | 1.08 | 0.32 | 0.44 | 4.50 | 1.79 | 0.43 | 1.13 | 1.53 | 4.49 | 4.26 | +22.3% | ||||||
| Shares, m | 49 | 62 | 75 | 88 | 115 | 132 | 135 | 142 | 145 | 144 | 144 | +12.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 213.00 | 177.06 | 9.71 | 19.11 | 40.0 | |||||
| P/S | 1,435.74 | 3,573.11 | 2,035.62 | 6,453.26 | 39,471.54 | 375.58 | 562.55 | 10.35 | 13.29 | 6.98 | 10.30 | 5,393.8 | ||||||
| P/B | 6.08 | 8.11 | 12.87 | 25.40 | 11.55 | 10.59 | 26.74 | 15.07 | 19.67 | 6.64 | 13.64 | 14.3 | ||||||
| EV/Sales | 1,141.20 | 3,016.52 | 1,583.09 | 5,731.82 | 35,702.31 | 338.65 | 530.39 | 9.85 | 13.10 | 7.15 | 10.54 | 4,807.4 | ||||||
| EV/FCF | (2.80) | (4.89) | (1.87) | (6.55) | (25.26) | (7.65) | (8.38) | (73.26) | (106.20) | (176.37) | 484.96 | (41.3) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (62) | (94) | (129) | (133) | (215) | (296) | (176) | (31) | (41) | (25) | 18 | (9.6%) | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | (5.1%) | ||||||
| Free cash flow | (62) | (94) | (129) | (133) | (215) | (296) | (176) | (31) | (41) | (25) | 17 | (9.6%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 34 | 65 | 40 | 65 | 524 | 266 | 115 | 264 | 476 | 477 | 877 | +34.1% | |||||
| Net debt | (45) | (85) | (69) | (110) | (573) | (247) | (91) | (117) | (67) | 104 | 193 | n/m | ||||||
| Shareholders’ equity | 36 | 67 | 24 | 39 | 519 | 237 | 59 | 161 | 222 | 648 | 604 | +37.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (93.02) | (155.72) | (191.70) | (140.19) | (70.85) | (69.26) | (78.09) | 4.84 | 5.15 | 54.50 | 37.70 | +147.5 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 29.91 | 16.82 | 10.25 | 10.69 | +10.3 pt | ||||||
| ROE | (113.87) | (230.36) | (381.16) | (551.85) | (100.14) | (92.03) | (151.36) | 11.57 | 12.21 | 102.75 | 100.28 | +216.6 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 64 | 75 | 105 | 134 | 272 | 286 | 226 | 264 | 338 | 399 | — | +22.5% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.89 | 0.97 | 1.54 | — | +105.4% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
Business profile
Where the money comes from and where it goes Fiscal 2024
| Product | 314 | 95.36% |
|---|---|---|
| Milestone | 13 | 3.80% |
| Other Revenue | 2 | 0.55% |
| Royalty | 1 | 0.24% |
| License Revenue | 0 | 0.05% |
| Gross margin | 88.30% | |
| Operating margin | 12.74% | |
| Pre-tax margin | 7.78% |
TG Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MDGL Madrigal Pharmaceuticals, Inc. | $9.3B | — (loss-making) | — (loss-making) | +50.13% (above 0%: growing) | n/m | +53.47% (above 0%: growing) | 91.23% | 12.98% | Compare |
| SYRE Spyre Therapeutics, Inc. | $9.2B | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −108.79% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| KRYS Krystal Biotech, Inc. | $8.9B | 39.2× | 45.7× | +30.21% (above 0%: growing) | −22.26% (below 0%: shrinking) | +137.79% (above 0%: growing) | 94.07% | 55.87% | Compare |
| TGTX TG Therapeutics, Inc. | $8.9B | 19.1× | 62.4× | +70.27% (above 0%: growing) | −73.68% (below 0%: shrinking) | +427.05% (above 0%: growing) | 82.86% | 9.02% | |
| PTGX Protagonist Therapeutics, Inc. | $8.8B | 111× | 31.2× | +3,749.17% (above 0%: growing) | n/m | +839.65% (above 0%: growing) | 100.00% | 74.37% | Compare |
| IBRX ImmunityBio, Inc. | $8.5B | — (loss-making) | — (loss-making) | +93.91% (above 0%: growing) | n/m | +13.38% (above 0%: growing) | 99.42% | (120.41%) | Compare |
| TWST Twist Bioscience Corporation | $7.9B | — (loss-making) | — (loss-making) | +23.24% (above 0%: growing) | n/m | −7.23% (below 0%: shrinking) | 52.76% | (30.65%) | Compare |
| CYTK Cytokinetics, Incorporated | $7.7B | — (loss-making) | — (loss-making) | +2,356.46% (above 0%: growing) | n/m | −6.73% (below 0%: shrinking) | 0.00% | (351.34%) | Compare |
| CAI Caris Life Sciences,�Inc. | $7.4B | 77.7× | 254× | +26.99% (above 0%: growing) | −40.33% (below 0%: shrinking) | −140.21% (below 0%: shrinking) | 0.00% | 7.01% | Compare |
| Median of peers | $8.6B | 77.7× | 45.7× | +40.17% | — | +3.33% | 72.00% | 3.51% |
From the latest earnings call
- CEO Michael Weiss said new BRIUMVI patient starts grew and physician adoption expanded, while a subcutaneous formulation could reach patients who prefer self-administered treatment.
- Chief Commercial Officer Adam Waldman said TG Therapeutics raised its annual guidance based on first-half performance and expects the fourth quarter to drive second-half growth.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
72.58%
Held by the ten largest
42.91%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 22.05m | 14.40% | −202.88k |
| Vanguard | 15.33m | 10.01% | −768.54k |
| State Street | 7.79m | 5.09% | −863.29k |
| Geode Capital Management | 3.64m | 2.38% | +142.30k |
| D. E. Shaw | 3.40m | 2.22% | +2.81m |
| Soleus Capital Management, L.P. | 2.93m | 1.91% | −1.10m |
| T. Rowe Price | 2.77m | 1.81% | +2.13m |
| Franklin Templeton | 2.72m | 1.78% | −576.07k |
| CONGRESS ASSET MANAGEMENT CO | 2.60m | 1.70% | +432.04k |
| Two Sigma | 2.47m | 1.61% | +926.66k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 25.57m | 28.30m | 57.00 |
| 2024 | 18.75m | 91.74m | 58.00 |
| 2023 | 18.47m | 41.18m | 33.00 |
| 2022 | 10.44m | (42.94m) | 23.00 |
| 2021 | 42.67m | (114.07m) | 37.00 |
Ownership
Directors and executive officers, together
8.87%
5% Stockholders Blackrock, Inc.
13.15%
Vanguard Group, Inc.
10.19%
Michael S. Weiss
7.54%
State Street Corporation
5.29%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
TG Therapeutics, Inc. (TGTX) Latest News
29 Oct
28 Oct
27 Oct
26 Oct
23 Oct
21 Oct
9 Oct
8 Oct
21 Aug
4 Aug
TGTX metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
TG Therapeutics is a biotechnology company that acquires, develops and sells treatments for diseases involving B cells, a type of immune cell. Its primary focus is multiple sclerosis (MS), a disease in which the immune system damages the central nervous system. The company was incorporated in Delaware in 1993. Its headquarters is listed in New York City, while its executive offices are in Morrisville, North Carolina. Michael Weiss is chairman and chief executive officer.
Its approved medicine, BRIUMVI, treats adults with relapsing forms of MS. It is an antibody that targets CD20, a protein on B cells. After the starting dose, BRIUMVI can be given as a one-hour intravenous infusion every 24 weeks. Physicians and patients can access it in the United States, and it is also available in several countries outside the U.S.