TG Therapeutics Inc
TGTXHealthcare|Biotechnology|USA
$57.12
-1.94 (-3.28%)
Tangible Book
$3.81
Graham Number
$15.81
Financials
Financial Snapshot
Market Cap
$8.74B
Enterprise Value
$-239.1M
Revenue (TTM)
$700.3M
Net Income (TTM)
$461.9M
Cash & Equivalents
—
Net Cash/Share
$-2.82
Free Cash Flow (TTM)
$-14.2M
Operating CF (TTM)
$-14.0M
Debt/Equity
1.29
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$3.5M
Monthly Burn
$1.2M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $44.9M | $84.7M | $68.9M | $140.4M | $605.4M | $314.8M | $161.7M | $217.5M | $311.0M | $142.0M | $514.4M | |
| Operating Cash Flow | $-61.6M | $-93.8M | $-128.9M | $-132.8M | $-214.5M | $-295.6M | $-176.2M | $-31.4M | $-40.5M | $-24.8M | $-14.0M | |
| Free Cash Flow | $-61.9M | $-93.8M | $-129.0M | $-132.9M | $-214.9M | $-296.0M | $-176.2M | $-31.4M | $-40.6M | $-25.0M | $-14.2M | |
| Capital Expenditure | $-344.0K | $-2.0K | $-90.0K | $-131.0K | $-357.0K | $-401.0K | $-14.0K | $0.00 | $-45.0K | $-214.0K | $-240.0K | |
| Financing Cash Flow | $5.0M | $133.7M | $113.6M | $204.2M | $679.8M | $41.4M | $-391.0K | $72.7M | $128.5M | $-89.7M | $307.2M |
R&D Spending
R&D (TTM)
$162.2M
R&D Intensity
23.2%
R&D Growth YoY
+1.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $152.0K | $152.0K | $152.0K | $152.0K | $152.0K | $6.7M | $2.8M | $233.7M | $329.0M | $616.3M | $700.3M | |
| R&D Expense | $69.2M | $102.5M | $159.4M | $154.2M | $165.9M | $222.6M | $125.4M | $76.2M | $94.3M | $160.2M | $162.2M | |
| R&D % of Revenue | 45547.4% | 67455.9% | 104862.5% | 101434.2% | 109142.1% | 3327.5% | 4501.0% | 32.6% | 28.7% | 26.0% | 23.2% | |
| SG&A | $9.9M | $16.3M | $15.2M | $15.0M | $107.8M | $128.1M | $95.5M | $122.7M | $154.3M | $232.0M | $269.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $152.0K | $152.0K | $152.0K | $152.0K | $152.0K | $6.7M | $2.8M | $233.7M | $329.0M | $616.3M | $700.3M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $790.0K | $265.0K | $14.1M | $38.5M | $100.7M | $118.7M | |
| Gross Profit | $152.0K | $152.0K | $152.0K | $152.0K | $152.0K | $5.9M | $2.5M | $219.5M | $290.5M | $515.6M | $581.7M | |
| R&D | $69.2M | $102.5M | $159.4M | $154.2M | $165.9M | $222.6M | $125.4M | $76.2M | $94.3M | $160.2M | $162.2M | |
| SG&A | $9.9M | $16.3M | $15.2M | $15.0M | $107.8M | $128.1M | $95.5M | $122.7M | $154.3M | $232.0M | $269.9M | |
| Operating Income | $-79.0M | $-118.7M | $-174.4M | $-169.1M | $-273.6M | $-344.8M | $-218.3M | $20.6M | $41.9M | $123.3M | $149.5M | |
| Interest Expense | $0.00 | $-845.0K | $-877.0K | $-5.3M | $-6.3M | $-5.6M | $-10.2M | $-12.6M | $-24.0M | $-26.7M | $-27.6M | |
| Pretax Income | $-78.3M | $-118.5M | $-173.5M | $-172.9M | $-279.4M | $-348.1M | $-223.8M | $13.1M | $25.6M | $107.4M | $122.3M | |
| Net Income | $-78.3M | $-118.5M | $-173.5M | $-172.9M | $-279.4M | $-348.1M | $-223.8M | $12.7M | $23.4M | $447.2M | $461.9M | |
| EPS (Diluted) | -1.60 | -1.91 | -2.30 | -1.96 | -2.42 | -2.63 | -1.65 | 0.09 | 0.15 | 2.77 | 2.86 | |
| EBITDA | $-78.9M | $-117.4M | $-172.4M | $-167.3M | $-272.7M | $-342.0M | $-213.1M | $26.1M | $49.9M | $134.4M | $150.2M | |
| Shares Out. (M) | 49.04 | 62.07 | 75.47 | 88.37 | 115.33 | 132.22 | 135.41 | 148.51 | 160.34 | 161.41 | 160.06 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.0M | $56.7M | $42.0M | $112.6M | $553.4M | $298.9M | $102.3M | $92.9M | $179.9M | $79.1M | $442.2M | |
| Marketable Securities | $19.9M | $28.0M | $26.9M | $27.8M | $52.0M | $15.9M | $59.4M | $124.6M | $131.1M | $62.8M | $72.2M | |
| Total Current Assets | $50.9M | $93.3M | $79.0M | $149.2M | $611.7M | $331.0M | $168.3M | $317.9M | $566.4M | $630.8M | $1.09B | |
| Total Assets | $54.8M | $97.4M | $83.6M | $163.0M | $625.6M | $379.6M | $193.6M | $329.6M | $577.7M | $1.06B | $1.53B | |
| Total Current Liabilities | $16.9M | $28.0M | $38.9M | $84.4M | $87.6M | $65.4M | $53.2M | $53.7M | $90.7M | $153.8M | $187.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $29.0M | $7.7M | $66.8M | $71.1M | $100.1M | $244.4M | $245.6M | $745.1M | |
| Total Liabilities | $18.9M | $30.4M | $59.6M | $124.4M | $106.3M | $142.5M | $135.0M | $169.1M | $355.3M | $415.2M | $945.7M | |
| Stockholders' Equity | $35.9M | $67.0M | $24.0M | $38.6M | $519.4M | $237.2M | $58.6M | $160.5M | $222.4M | $648.0M | $583.1M | |
| Retained Earnings | $-236.4M | $-354.9M | $-528.3M | $-701.2M | $-980.6M | $-1.33B | $-1.53B | $-1.55B | $-1.53B | $-1.08B | $-1.06B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-61.6M | $-93.8M | $-128.9M | $-132.8M | $-214.5M | $-295.6M | $-176.2M | $-31.4M | $-40.5M | $-24.8M | $-14.0M | |
| Capital Expenditure | $-344.0K | $-2.0K | $-90.0K | $-131.0K | $-357.0K | $-401.0K | $-14.0K | $0.00 | $-45.0K | $-214.0K | $-240.0K | |
| Free Cash Flow | $-61.9M | $-93.8M | $-129.0M | $-132.9M | $-214.9M | $-296.0M | $-176.2M | $-31.4M | $-40.6M | $-25.0M | $-14.2M | |
| Investing Cash Flow | $26.5M | $-8.2M | $1.2M | $-718.0K | $-24.5M | $-332.0K | $-20.0M | $-50.7M | $-1.0M | $13.8M | $16.9M | |
| Financing Cash Flow | $5.0M | $133.7M | $113.6M | $204.2M | $679.8M | $41.4M | $-391.0K | $72.7M | $128.5M | $-89.7M | $307.2M | |
| Issuance of Stock | $4.4M | $131.5M | $113.6M | $175.0M | $679.7M | $2.2M | $0.00 | $46.3M | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-8.8M | $-91.2M | $-185.1M | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $30.0M | $0.00 | $70.0M | $0.00 | $25.0M | $244.8M | $0.00 | $747.7M | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-30.0M | $-975.0K | $0.00 | $-107.6M | $0.00 | $-255.0M | |
| Stock Based Comp. | $7.5M | $15.9M | $12.9M | $11.3M | $80.3M | $61.3M | $44.7M | $37.9M | $42.5M | $64.7M | $69.6M | |
| Net Change in Cash | $-30.0M | $31.7M | $-14.1M | $70.7M | $440.8M | $-254.5M | $-196.6M | $-9.4M | $87.0M | $-100.7M | $310.1M |
Dilution Tracker
Shares outstanding grew 21.1% over 5 years — significant dilution
Shares Outstanding
160M
5-Year Share Growth
+21.1%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 49.04 | 62.07 | 75.47 | 88.37 | 115.33 | 132.22 | 135.41 | 148.51 | 160.34 | 161.41 | 160.06 | |
| YoY Change % | — | 26.6% | 21.6% | 17.1% | 30.5% | 14.6% | 2.4% | 9.7% | 8.0% | 0.7% | -0.8% | |
| Stock Issuance | $4.4M | $131.5M | $113.6M | $175.0M | $679.7M | $2.2M | $0.00 | $46.3M | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-8.8M | $-91.2M | $-185.1M | |
| Stock Based Comp. | $7.5M | $15.9M | $12.9M | $11.3M | $80.3M | $61.3M | $44.7M | $37.9M | $42.5M | $64.7M | $69.6M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 88.2% | 90.5% | 94.0% | 88.3% | 83.7% | 83.0% | |
| Operating Margin % | -51953.3% | -78100.0% | -114736.8% | -111220.4% | -179996.1% | -5154.3% | -7839.0% | 8.8% | 12.7% | 20.0% | 21.4% | |
| Net Margin % | -51482.2% | -77944.7% | -114132.9% | -113730.9% | -183803.3% | -5204.1% | -8036.3% | 5.4% | 7.1% | 72.6% | 66.0% | |
| EBITDA Margin % | -51911.8% | -77252.6% | -113409.2% | -110067.1% | -179393.4% | -5112.4% | -7651.9% | 11.2% | 15.2% | 21.8% | 21.4% | |
| FCF Margin % | -40744.1% | -61685.5% | -84878.3% | -87458.6% | -141357.9% | -4425.7% | -6326.2% | -13.4% | -12.3% | -4.1% | -2.0% | |
| ROE % | -113.9% | -230.4% | -381.2% | -551.9% | -100.1% | -92.0% | -151.4% | 11.6% | 12.2% | 102.8% | 98.2% | |
| ROA % | -93.0% | -155.7% | -191.7% | -140.2% | -70.8% | -69.3% | -78.1% | 4.8% | 5.2% | 54.5% | 46.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)19.97
Historical10.09 / 72.19 / 1965.00
Industry Med.27.41
P/S13.10
Historical5.42 / 1258.06 / 54300.00
Industry Med.9.51
P/B15.00
Historical3.43 / 14.39 / 250.23
Industry Med.2.93
EV/EBITDA59.81
Historical-72.90 / -3.81 / 932.29
Industry Med.13.14
EV/Revenue12.83
Historical4.87 / 1293.43 / 28638.18
Industry Med.8.71
P/FCF—
Historical42.92 / 96.63 / 179.70
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$3.81
Net Current Assets
$0.920
Graham Number
$15.81
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | 189.78 | 200.67 | 10.76 | 19.97 | |
| PS Ratio | 1550.00 | 4100.00 | 2050.00 | 5550.00 | 52020.00 | 372.55 | 563.33 | 10.86 | 14.67 | 7.81 | 13.10 | |
| PB Ratio | 7.36 | 8.95 | 14.29 | 31.44 | 14.08 | 11.47 | 29.58 | 16.11 | 21.09 | 7.14 | 15.00 | |
| EV/EBITDA | -2.78 | -4.39 | -1.60 | -6.66 | -24.75 | -7.27 | -7.76 | 95.00 | 92.85 | 35.29 | 59.81 | |
| EV/Revenue | 1442.15 | 3389.20 | 1809.01 | 7332.44 | 44403.38 | 371.66 | 593.58 | 10.61 | 14.08 | 7.69 | 12.83 |
Analyst Estimates & Quality
Altman Z-Score
6.06
Safe
Piotroski F-Score
5
Moderate
Beneish M-Score
13.85
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $940.6M | $1,242.1M | $1,572.7M |
| Net Income | $218.5M | $419.9M | $508.8M |
| EPS | 1.37 | 2.74 | 3.21 |
| Book Value per Share | 2.33 | 4.11 | 0.00 |
| Operating Cash Flow per Share | 1.25 | 3.63 | 0.00 |
| Operating CF | $200.08M | $580.23M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| BRIUMVI | $606.9M |
| License, milestone, royalty and other revenue | $9.4M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $594.1M |
| International | $12.8M |
| License Revenue | $152.0K |
| Other Revenue | $3.6M |
| Royalty Revenue | $5.6M |