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TG Therapeutics
TG Therapeutics (TGTX) investor relations material
TG Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Achieved $616.3 million in global revenue for 2025, with $594.1 million from U.S. BRIUMVI net sales and $183 million in Q4, reflecting 92% year-over-year and 20% sequential growth.
BRIUMVI demonstrated strong physician and patient confidence, supported by six-year open-label extension and ULTIMATE I & II trial data showing nearly 90% of patients free from 24-week confirmed disability progression.
Advanced R&D with completed enrollment in the phase III ENHANCE study and 75% enrollment in the subcutaneous BRIUMVI phase III trial, targeting pivotal data later this year or early next year.
Expanded BRIUMVI commercialization globally, with approvals in the EU, UK, Switzerland, Australia, Kuwait, and UAE.
Completed $100 million share repurchase program and authorized an additional $100 million buyback.
Financial highlights
U.S. BRIUMVI net product revenue was $182.7 million in Q4 and $594.1 million for the full year; total global revenue reached $616.3 million.
Operating income for 2025 was $123.3 million; net income was $447.2 million ($2.77 per diluted share), including a $339.8 million non-recurring income tax benefit.
Gross margin for Q4 was slightly below typical due to timing of ex-U.S. sales and a one-time inventory reserve.
Ended 2025 with $199.5 million in cash, cash equivalents, and investment securities.
R&D expenses were $160.2 million and SG&A expenses were $232 million for 2025.
Outlook and guidance
Reaffirmed 2026 U.S. BRIUMVI net revenue guidance of $825–$850 million and total global revenue of $875–$900 million.
Q1 2026 U.S. revenue expected to grow sequentially to $185–$190 million, with ex-U.S. revenue projected at $5–$10 million.
Full-year 2026 operating expenses expected to be ~$350 million, plus ~$100 million for subcutaneous BRIUMVI manufacturing and startup activities.
Continued positive cash flow anticipated in 2026 and beyond.
Impact of $100M sub-Q BRIUMVI costs on 2026?
BRIUMVI's differentiation vs. other anti-CD20s?
What non-MS indications for BRIUMVI are planned?
Subcu market share expansion potential
ENHANCE trial's impact on market share
Azer-cel's unmet need in progressive MS
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Next TG Therapeutics earnings date
Q1 20264 May, 2026
TG Therapeutics
Next TG Therapeutics earnings date
Q1 20264 May, 2026
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Frequently asked questions
TG Therapeutics, Inc., a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. The company's therapeutic product candidates include Ublituximab, an investigational glycoengineered monoclonal antibody for the treatment of B-cell non-hodgkin lymphoma (NHL), chronic lymphocytic leukemia (CLL), and relapsing forms of multiple sclerosis; Umbralisib, an oral inhibitor of PI3K delta and CK1 epsilon for the treatment of CLL and follicular lymphoma; Cosibelimab, a human monoclonal antibody that binds to programmed death ligand 1 (PD-L1) and blocks its interactions with PD-1 and B7.1 receptors; TG-1701 is an orally available Bruton's tyrosine kinase (BTK) inhibitor that exhibits selectivity to BTK over ibrutinib in in vitro kinase screening; TG-1801, a bispecific CD47/CD19 antibody generated by fusion technology platform across two distinct proteins each comprising single chain moieties from humanized IgG.
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