TG THERAPEUTICS, INC.
TGTX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for TGTX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TGTX
TG Therapeutics, Inc. is a biopharmaceutical company focused on the commercialization of BRIUMVI for relapsing multiple sclerosis and the development of a subcutaneous formulation of ublituximab, with a growing pipeline in autoimmune indications.
Key risk: Accumulated deficit and debt burden
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 8 pipeline candidates · 51 clinical trials · 7 catalysts · 1 FDA decision for TG THERAPEUTICS, INC..
TG Therapeutics, Inc. is a biopharmaceutical company focused on the commercialization of BRIUMVI for relapsing multiple sclerosis and the development of a subcutaneous formulation of ublituximab, with a growing pipeline in autoimmune indications.
- BRIUMVI (ublituximab) is the company's lead commercial product for relapsing forms of multiple sclerosis, generating $240.3M in total revenue as of 2026-06-30 [sec].
- As of 2026-06-30, the company reported cash & equivalents of $483.9M, shareholders' equity of $276.4M, and total debt of $745.4M [sec].
- The company achieved net income of $7.8M for the period ending 2026-06-30, though it carries an accumulated deficit of approximately $1.1B as of 2026-06-30 [sec].
- Pipeline efforts include a subcutaneous formulation of ublituximab and early-stage development of azer-cel for autoimmune diseases [sec_mda · as of 2026-02-27].
- Key upcoming catalysts include Phase 3 topline data for a modified ublituximab regimen (ENHANCE) expected in January 2027 and multiple later-stage readouts through 2033 [upcoming catalysts].
What works
- BRIUMVI is commercially launched in the U.S. (since Jan 2023) and ex-U.S. via partner Neuraxpharm (since Feb 2024), providing a recurring revenue stream [sec_mda · as of 2025-11-05].
- The company has sufficient liquidity — $483.9M in cash & equivalents as of 2026-06-30 — and expects existing resources plus projected revenues to fund operations for more than twelve months [sec_mda · as of 2026-08-05].
- A broad pipeline with multiple Phase 3 trials (subcutaneous ublituximab, azer-cel in autoimmune diseases) offers potential for label expansion and new indications [sec_mda · as of 2026-02-27].
What to weigh
- The company has an accumulated deficit of approximately $1.1B as of 2026-06-30 and will need to generate substantial revenues to sustain profitability and positive cash flow over the long term [sec_mda · as of 2026-08-05].
- BRIUMVI faces substantial competition, which could reduce or eliminate the company's commercial opportunity [sec_mda · as of 2026-08-05].
- The target patient populations for BRIUMVI and other candidates have not been established with precision; if market opportunities are smaller than estimated, revenue and profitability could be adversely affected [sec_mda · as of 2026-08-05].
- Total debt of $745.4M as of 2026-06-30 represents a significant financial obligation that could constrain future flexibility [sec].
From the filings
Quoted directly from source documents.
The company's accumulated deficit was approximately $1.1 billion as of June 30, 2026.
“As of June 30, 2026 , the Company's accumulated deficit was approximately $ 1.1 billion”
SEC MD&A · August 5, 2026
BRIUMVI was first commercially launched in the U.S. in January 2023 and ex-U.S. via Neuraxpharm in February 2024.
“BRIUMVI was first commercially launched in the United States in January of 2023, and ex-US through the Company's partner Neuraxpharm in February 2024.”
SEC MD&A · November 5, 2025
The company faces substantial competition that may reduce or eliminate its commercial opportunity.
“We face substantial competition, which may result in others commercializing drugs before or more successfully than we do, resulting in the reduction or elimination of our commercial opportunity.”
SEC MD&A · May 6, 2026
Catalyst timeline
- 2027-01-21 · Phase3_Topline — Phase 3 Topline: Evaluating Safety, Efficacy and Pharmacokinetics of a Modified Regimen of Ublituximab (ENHANCE) — Topline data from this study will assess the safety, efficacy, and pharmacokinetics of a modified ublituximab regimen.
- 2027-12-31 · Phase3_Topline — Phase 3 Topline: Multicenter, Double-Masked, Randomized, Vehicle-Controlled 12-Month Parallel Comparison of the Safet — Topline data from this vehicle-controlled study will evaluate safety and efficacy of the candidate.
- 2028-12-31 · Phase3_Topline — Phase 3 Topline: A Phase 3, Non-Inferiority, Randomized, Open-Label, Parallel Group, Multicenter Study to Evaluate th — Topline data from this non-inferiority study will compare the candidate against an active comparator.
- 2032-05-31 · Phase3_Topline · ublituximab — Phase 3 Topline: An Open Label Extension Study of Ublituximab in Subjects With Relapsing Multiple Sclerosis — Long-term open-label extension data will provide additional safety and efficacy information for ublituximab in RMS.
- 2033-06-30 · Phase3_Topline — Phase 3 Topline: Ublituximab in Pediatric Participants With Relapsing Forms of Multiple Sclerosis (RMS) — Topline data from this pediatric study will evaluate ublituximab in children with RMS.
- 2035-07-16 · Patent_Expiry · ORBACTIV — Patent/Exclusivity Expiry: ORBACTIV — Patent/exclusivity expiry for ORBACTIV may open the market to generic competition.
- 2035-07-16 · Patent_Expiry · KIMYRSA — Patent/Exclusivity Expiry: KIMYRSA — Patent/exclusivity expiry for KIMYRSA may open the market to generic competition.
Risks & what to watch (4)›
Key risks
- Accumulated deficit and debt burden — Accumulated deficit of ~$1.1B and total debt of $745.4M as of 2026-06-30; sustained profitability requires substantial revenue growth [sec].
- Competitive pressure on BRIUMVI — Substantial competition could reduce or eliminate commercial opportunity for BRIUMVI [sec_mda · as of 2026-08-05].
- Uncertain market opportunity — Target patient populations not precisely established; smaller-than-expected markets could hurt revenue [sec_mda · as of 2026-08-05].
- Post-approval side effects — BRIUMVI or future candidates may cause undesirable side effects after approval, leading to negative commercial consequences [sec_mda · as of 2026-08-05].
What to watch
- Phase 3 topline data for modified ublituximab regimen (ENHANCE) expected January 2027 [upcoming catalysts].
- Phase 3 topline data for subcutaneous ublituximab in RMS expected December 2028 [upcoming catalysts].
- Patent/exclusivity expiries for ORBACTIV and KIMYRSA in July 2035, which could affect revenue streams [upcoming catalysts].
- Commercial execution of BRIUMVI revenue targets and payer access metrics as outlined in 2025 corporate goals [sec · filed 2026-04-30].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 1.71 · 11% dilution
Lead: Approved
8 candidates
7 upcoming, next in ~144d
No insider transactions in the last 180 days
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
362
Total value held
$3.64B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 22,252,930 | $739.2M |
| vanguard capital management llc | 13,206,516 | $438.7M |
| state street corp | 8,649,766 | $287.3M |
| vanguard portfolio management llc | 8,273,979 | $274.9M |
| geode capital management, llc | 3,499,916 | $116.3M |
| clearbridge investments, llc | 3,210,930 | $106.7M |
| jane street group, llc | 3,150,869 | $104.7M |
| goldman sachs group inc | 3,077,688 | $102.2M |
| citadel advisors llc | 2,443,889 | $81.2M |
| congress asset management co | 2,168,081 | $72.0M |
Showing top 10 of 362 institutional holders of TG THERAPEUTICS, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 24, 2026- % of float
- 23.7%
- Days to cover
- 13.6
- Shares short
- 28,943,524
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TGTX short interestGovernance
Frequently asked questions
What is the AI investment thesis for TG THERAPEUTICS, INC.?
TG Therapeutics, Inc. is a biopharmaceutical company focused on the commercialization of BRIUMVI for relapsing multiple sclerosis and the development of a subcutaneous formulation of ublituximab, with a growing pipeline in autoimmune indications.
What is TG THERAPEUTICS, INC.'s lead drug candidate?
TG THERAPEUTICS, INC.'s most advanced tracked candidate is Azer-cel (Phase 1) for B-cell Mediated Autoimmune Disorders.
What is TG THERAPEUTICS, INC.'s next catalyst?
TG THERAPEUTICS, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: Evaluating Safety, Efficacy and Pharmacokinetics of a Modified Regimen of Ublituximab (ENHANCE )" — expected January 21, 2027.
Who is the CEO of TG THERAPEUTICS, INC.?
Mr. Michael S. Weiss Esq., J.D. is the chief executive officer of TG THERAPEUTICS, INC. (TGTX).
Where is TG THERAPEUTICS, INC. headquartered?
TG THERAPEUTICS, INC. (TGTX) is headquartered in Morrisville, NC, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.