TG THERAPEUTICS, INC. TGTX
TG Therapeutics is a fully integrated, commercial stage, biotechnology company focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline, TG Therapeutics has received approval from the U.S. Food and Drug Administration (FDA) for BRIUMVI (ublituximab-xiiy) to treat adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, as well as approval from several regulatory agencies outside of the U.S. for BRIUMVI to treat adult patients with RMS who have active disease defined by clinical or imaging features. We also actively evaluate complementary products, technologies and companies for in-licensing, partnership, acquisition and/or investment opportunities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $616.3M | $329.0M | $233.7M | $2.8M | $6.7M | $152.0K | $152.0K | $152.0K | $152.0K | $152.0K |
| Cost of revenue | $100.7M | $38.5M | $14.1M | $265.0K | $790.0K | — | — | — | — | — |
| Gross profit | $515.6M | $290.5M | $219.5M | $2.5M | $5.9M | — | — | — | — | — |
| R&D | $160.2M | $94.3M | $76.2M | $125.4M | $222.6M | $165.9M | $154.2M | $159.4M | $102.5M | $69.2M |
| SG&A | $232.0M | $154.3M | $122.7M | $95.5M | $128.1M | $107.8M | $15.0M | $15.2M | $16.3M | $9.9M |
| Total operating expenses | $493.0M | $287.1M | $213.0M | $221.1M | $351.5M | $273.7M | $169.2M | $174.6M | $118.9M | $79.1M |
| Operating income | $123.3M | $41.9M | $20.6M | -$218.3M | -$344.8M | -$273.6M | -$169.1M | -$174.4M | -$118.7M | -$79.0M |
| Interest expense | $26.7M | $24.0M | $12.6M | $10.2M | $5.6M | $6.3M | $5.3M | $877.0K | $845.0K | — |
| Pre-tax income | $107.4M | $25.6M | $13.1M | -$223.8M | -$348.1M | -$279.4K | -$172.9K | -$173.5K | -$118.5K | -$78.3M |
| Income tax | $339.8M | $2.2M | $390.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | $447.2M | $23.4M | $12.7M | -$198.3M | -$348.1M | -$279.4M | -$172.9M | -$173.5M | -$118.5M | -$78.3M |
| EPS, basic | 3.10 | 0.16 | 0.09 | -1.65 | -2.63 | -2.42 | — | — | — | — |
| EPS, diluted | 2.77 | 0.15 | 0.09 | -1.65 | -2.63 | -2.42 | -1.96 | -2.30 | -1.91 | -1.60 |
| Shares, diluted (wtd. avg.) | $161.4M | $160.3M | $148.5M | $135.4M | $132.2M | $115.3M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $79.1M | $179.9M | $92.9M | $102.3M | $298.9M | $553.4M | $113.9M | $43.2M | $57.3M | $25.6M |
| Short-term investments | $62.8M | $131.1M | $124.6M | $59.4M | $15.9M | $52.0M | $27.8M | $26.9M | $28.0M | $19.9M |
| Receivables | $305.6M | $129.2M | $51.1M | $0 | $1.4M | — | — | — | — | — |
| Inventory | $125.6M | $110.5M | $39.8M | $0 | — | — | — | — | — | — |
| Total current assets | $630.8M | $566.4M | $317.9M | $168.3M | $331.0M | $611.7M | $149.2M | $79.0M | $93.3M | $50.9M |
| Property, plant and equipment | — | — | $95.0K | $307.0K | $600.0K | $481.0K | $282.0K | $251.0K | $248.0K | $328.1K |
| Goodwill | — | — | $799.0K | $799.0K | $799.0K | $799.0K | $799.0K | $799.0K | $799.0K | $799.4K |
| Total assets | $1.06B | $577.7M | $329.6M | $193.6M | $379.6M | $625.6M | $163.0M | $83.6M | $97.4M | $54.8M |
| Accounts payable | $107.5M | $58.3M | $38.5M | $42.0M | $51.3M | $37.0M | $30.0M | $36.4M | $25.9M | $15.3M |
| Short-term debt | — | — | — | $0 | $975.0K | $22.2M | $0 | — | — | — |
| Total current liabilities | $153.8M | $90.7M | $53.7M | $53.2M | $65.4M | $87.6M | $84.4M | $38.9M | $28.0M | $16.9M |
| Long-term debt | $245.6M | $244.4M | $100.1M | $71.1M | $66.8M | $7.7M | $29.0M | $0 | — | — |
| Total liabilities | $415.2M | $355.3M | $169.1M | $135.0M | $142.5M | $106.3M | $124.4M | $59.6M | $30.4M | $18.9M |
| Retained earnings | -$1.08B | -$1.53B | -$1.55B | -$1.53B | -$1.33B | -$980.6M | -$701.2M | -$528.3M | -$354.9M | -$236.4M |
| Total equity | $648.0M | $222.4M | $160.5M | $58.6M | $237.2M | $519.4M | $38.6M | $24.0M | $67.0M | $35.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$24.8M | -$40.5M | -$31.4M | -$176.2M | -$295.6M | -$214.5M | -$132.8M | -$128.9M | -$93.8M | -$61.6M |
| Depreciation and amortisation | $59.0K | $68.0K | $211.0K | $303.0K | $282.0K | $158.0K | $100.0K | $88.0K | $82.0K | $63.0K |
| Stock-based compensation | $64.7M | $42.5M | $37.9M | $44.7M | $61.3M | $80.3M | $11.3M | $12.9M | $15.9M | $7.5M |
| Capital expenditure | $214.0K | $45.0K | $0 | $14.0K | $401.0K | $357.0K | $131.0K | $90.0K | $2.0K | $344.0K |
| Investing cash flow | $13.8M | -$1.0M | -$50.7M | -$20.0M | -$332.0K | -$24.5M | -$718.0K | $1.2M | -$8.2M | $26.5M |
| Financing cash flow | -$89.7M | $128.5M | $72.7M | -$391.0K | $41.4M | $679.8M | $204.2M | $113.6M | $133.7M | $5.0M |
| Buybacks | $91.2M | $8.8M | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-014233.
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