TG Therapeutics has built an elite business quality profile with 113% return on equity, 66% gross margins, and 70% revenue growth, but a complete 4-of-4 quarter earnings miss streak averaging -39.9% below consensus and 27% short interest create a fundamental tension between the operational quality of BRIUMVI and the company's ability to convert revenue into reported earnings.
Thesis pillars
- Exceptional Quality And Growth Metrics↓Deteriorating
- Briumvi Single Product Concentration↑Improving
- Perfect Earnings Miss Streak↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
TG Therapeutics, Inc. (TGTX) Stock Analysis
Healthcare · Biotechnology
Sell if holding. Momentum 2.7/10 is below the 5.0 floor at $48.50 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Product: BRIUMVI; Concentration risk — Supplier: sole-source CMO/API suppliers.
TG Therapeutics is a commercial-stage biotech focused on B-cell diseases, with BRIUMVI (ublituximab-xiiy) as its sole FDA-approved product, launched in the U.S. for relapsing forms of multiple sclerosis in January 2023. Revenue comes from U.S. net product sales and ex-U.S.... Read more
Sell if holding. Momentum 2.7/10 is below the 5.0 floor at $48.50 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Product: BRIUMVI; Concentration risk — Supplier: sole-source CMO/API suppliers. Chart setup: No clear chart pattern; technical signals are mixed. Score 6.3/10, moderate confidence.
Passes 7/8 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 79d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: speculative.
About TG Therapeutics, Inc.
About TG Therapeutics, Inc.
BRIUMVI (ublituximab-xiiy), TG Therapeutics' sole FDA-approved product, received clearance in December 2022 for adults with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease. The company commercially launched BRIUMVI in the U.S. in January 2023 and expanded internationally through an August 2023 commercialization agreement with Neuraxpharm Pharmaceuticals, S.L. for ex-U.S. territories, with Neuraxpharm first launching BRIUMVI in Germany in February 2024. Patent protection for BRIUMVI was extended through 2042 via three USPTO patents issued in February 2024.
BRIUMVI is an anti-CD20 monoclonal antibody administered via one-hour infusion every 24 weeks. TG Therapeutics generates U.S. net product revenue from infusion-based prescriptions in the RMS market, competing against other branded anti-CD20 therapies. Ex-U.S. revenues flow through the Neuraxpharm commercialization agreement as tiered double-digit royalties on net product sales up to 30 percent plus milestone payments, with the total deal valued at up to $645 million in upfront and milestone payments. The company contracts with third parties for all commercial and clinical manufacturing — the 10-K discloses that the third parties relied upon for supply of starting materials, intermediates, active pharmaceutical ingredient (API)/drug substance, drug product, and other materials are the company's sole source of supply. Pipeline assets include subcutaneous ublituximab in a Phase 3 program that was more than approximately 75 percent enrolled in February 2026, and azer-cel (an allogeneic CD19-directed CAR T cell therapy) in a Phase 1 trial for progressive MS initiated in August 2025.
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Manufacturing dependency exposes TG Therapeutics to meaningful supply-chain concentration. The company holds no internal manufacturing capacity; commercial BRIUMVI supply depends entirely on third-party contract manufacturers and API suppliers, each of which is the sole source for its respective materials. A disruption at any sole-source supplier could directly interrupt commercial supply, and the 10-K characterizes the loss of any such supplier as capable of significantly harming the business. The myasthenia gravis and subcutaneous ublituximab programs, if approved, would share the same sole-source supply infrastructure.
See also: Healthcare · Biotechnology
From TG Therapeutics, Inc.'s most recent 10-K filing, extracted June 16, 2026.
Recent developments
updated 2026-08-15Recent Developments — TG Therapeutics, Inc.
Latest news
- NEWS TGTX|TG Therapeutics Inc|Price:54.860|Chg%:-0.890 - TradingKey — TradingKey neutral
- NEWS TG Therapeutics Inc (TGTX) Earnings Forecast: Future EPS & Revenue Growth Estimates - TradingKey — TradingKey neutral
- NEWS TG Therapeutics Inc (TGTX) Earnings Forecast: Future EPS & Revenue Growth Estimates - tradingkey.com — tradingkey.com neutral
- NEWS TG Therapeutics (TGTX) Stock Momentum | Q4 2025: Earnings Fall Short - Margin Expansion - Newser — Newser neutral
- NEWS TG Therapeutics (TGTX) Q1 earnings lag estimates - MSN — MSN negative
Generated 2026-08-15T09:37:17Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductBRIUMVI10-K Item 1: 'TG Therapeutics has received approval from the U.S. Food and Drug Administration (FDA) for BRIUMVI (ublituximab-xiiy)'
- HIGHSuppliersole-source CMO/API suppliers10-K Item 1A: 'The third parties upon whom we rely for the supply of starting materials, intermediates, active pharmaceutical ingredient (API)/drug substance ... are our sole source of supply'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Momentum 2.7/10 is below the 5.0 floor at $48.50 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Product: BRIUMVI; Concentration risk — Supplier: sole-source CMO/API suppliers. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $45.33. Score 6.3/10, moderate confidence.
Take-profit target: $60.65 (+24.4% upside). Prior stop was $45.33. Stop-loss: $45.33.
Concentration risk — Product: BRIUMVI; Concentration risk — Supplier: sole-source CMO/API suppliers; Leverage penalty (D/E 1.2): -0.5.
TG Therapeutics, Inc. trades at a P/E of 18.1 (forward 16.2). TrendMatrix value score: 7.2/10. Verdict: Sell.
14 analysts cover TGTX with a consensus score of 4.0/5. Average price target: $70.
What does TG Therapeutics, Inc. do?TG Therapeutics is a commercial-stage biotech focused on B-cell diseases, with BRIUMVI (ublituximab-xiiy) as its sole...
TG Therapeutics is a commercial-stage biotech focused on B-cell diseases, with BRIUMVI (ublituximab-xiiy) as its sole FDA-approved product, launched in the U.S. for relapsing forms of multiple sclerosis in January 2023. Revenue comes from U.S. net product sales and ex-U.S. royalties and milestones under a 2023 commercialization agreement with Neuraxpharm valued at up to $645 million.