TG THERAPEUTICS (TGTX) Company Report

TG Therapeutics reported $616 million in total global revenues for 2025, with $594 million from Briumvi U.S. net revenue, representing 90% year-over-year growth. The company projects 2026 global net revenue to be between $875 million and $900 million, with U.S. net revenue for Briumvi expected to be $825 million to $850 million.
Briumvi has achieved approximately one-third market share in the HCP-administered anti-CD20 portion of the MS market and an overall 20% total market share, driven by its "best-in-class" product, team, and competitive pricing as the lowest-priced branded MS treatment.
Key pipeline developments include a consolidated IV dosing for Briumvi with top-line data expected mid-2026 and a target launch in 2027, and a self-administered subcutaneous (subcu) Briumvi with top-line data expected late 2026/early 2027 and a target launch in 2028. The subcu formulation is expected to significantly expand the total addressable market.
The company holds patents for Briumvi into the mid-2040s, including a composition of matter patent through 2042/2043 and a subcu formulation patent through 2045, supporting long-term growth. TG Therapeutics also has $100 million in capacity under its stock repurchase plan and is likely to increase share repurchases.

6 days ago

Transcript

TG Therapeutics Highlights Strong BRIUMVI Performance and Outlines 2026 Growth Strategy

TGTX

Guidance Update

Revenue Acceleration/Inflection

Product Launch

TG Therapeutics reported ~$616 million in Total Global Revenue for FY 2025, with BRIUMVI U.S. Net Revenue reaching ~$594 million. The company projects FY 2026 Total Global Net Revenue of ~$875-900 million and BRIUMVI U.S. Net Revenue of ~$825-850 million.
The company is pursuing significant market expansion with planned launches of IV BRIUMVI consolidated dosing schedule in 2027 and SubQ BRIUMVI in 2028, aiming to address distinct patient segments.
Key R&D goals for 2026 include announcing pivotal topline data for the ENHANCE trial (mid-2026) and subcutaneous BRIUMVI (YE26/1Q27), along with presenting preliminary Phase 1 azer-cel data in Progressive MS (2H 2026).
BRIUMVI is the first and only anti-CD20 for Relapsing forms of Multiple Sclerosis (RMS) delivered in a 1-hour infusion every 6 months after the starting dose, and has been rapidly adopted by over 97% of top 200 MS Centers.

6 days ago

Presentation

TG Therapeutics Reports Strong 2025 Revenue and Provides 2026 Guidance with Key Pipeline Updates

TGTX

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

TG Therapeutics reported $616 million in total global revenues for 2025, including $594 million from Briumvi U.S. net revenue, marking approximately 90% year-over-year growth. Cumulative Briumvi revenues reached $992 million by the end of 2025 and exceeded $1 billion in early 2026.
The company provided 2026 guidance, targeting global net revenue of approximately $875 million to $900 million and Briumvi U.S. net revenue of $825 million to $850 million. Core operating expenses (R&D and SG&A) are projected around $350 million.
Significant pipeline milestones for 2026 include anticipated top-line data for consolidated IV dosing of Briumvi by mid-year (with a target launch in 2027) and for subcutaneous Briumvi by late 2026 or early 2027 (with a target launch in 2028). The subcutaneous formulation is expected to substantially increase Briumvi's total addressable market.
TG Therapeutics plans to initiate a registration-directed trial for Briumvi in a new indication outside of MS in 2026 and expects data from its Azer-cel progressive MS cohort this year. The company also has $100 million capacity under its share repurchase plan, with a potential for increase.

6 days ago

Transcript

TG Therapeutics Provides 2026 Revenue Guidance and Updates on Briumvi Performance and Pipeline

TGTX

Guidance Update

Product Launch

Revenue Acceleration/Inflection

TG Therapeutics reported $616 million in total global revenues for 2025, with $594 million from Briumvi U.S. net revenue, marking approximately 90% year-over-year growth.
The company provided 2026 guidance, targeting global net revenue of approximately $875 million to $900 million and Briumvi U.S. net revenue of $825 million to $850 million. Core operating expenses (R&D and SG&A) are projected around $350 million.
Briumvi, an anti-CD20 for multiple sclerosis, has achieved approximately one-third market share in the HCP-administered segment and about 20% total market share, with a goal to become the number one prescribed anti-CD20.
Upcoming product developments include a consolidated IV dosing for Briumvi, with top-line data expected mid-2026 and a target launch in 2027, and a self-administered subcutaneous (subcu) Briumvi, with top-line data expected late 2026/early 2027 and a target launch in 2028.
The pipeline also includes Azer-cel, a CD19 CAR-T product for progressive MS, with data expected in 2026. Briumvi's patent protection extends into the mid-2040s, including a subcu formulation patent through 2045.

6 days ago

Transcript

TG Therapeutics Provides Preliminary Q4 and FY 2025 Revenue and 2026 Guidance

TGTX

Earnings

Guidance Update

Revenue Acceleration/Inflection

TG Therapeutics announced preliminary total global revenue of approximately $616 million for full year 2025, with U.S. BRIUMVI net product revenue reaching approximately $594 million for the same period and $182 million for Q4 2025.
The company provided full year 2026 guidance, targeting total global revenue of approximately $875-900 million, including U.S. BRIUMVI net product revenue of approximately $825-850 million.
Target operating expenses for full year 2026 are approximately $350 million (excluding non-cash compensation), with an additional $100 million for subcutaneous BRIUMVI inventory build and secondary manufacturer start-up costs.
Anticipated development milestones for 2026 include pivotal topline data for the ENHANCE trial (mid-2026), preliminary Phase 1 azer-cel data in Progressive MS (second half of 2026), and pivotal topline data for subcutaneous BRIUMVI (year-end 2026/1Q 2027).

6 days ago

8-K

TG Therapeutics Provides Preliminary 2025 Revenue and 2026 Guidance

TGTX

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

TG Therapeutics announced preliminary total global full year 2025 revenue of approximately $616 million.
Preliminary BRIUMVI U.S. net product revenue for the full year 2025 was approximately $594 million, with Q4 2025 net product revenue at approximately $182 million.
The company targets total global revenue of approximately $875-900 million for full year 2026, including BRIUMVI U.S. net product revenue of approximately $825-850 million.
Full year 2026 target operating expense is approximately $350 million excluding non-cash compensation, plus approximately $100 million for subcutaneous BRIUMVI inventory build and secondary manufacturer start-up costs.
Key development milestones for 2026 include announcing pivotal topline data for the ENHANCE trial mid-year, presenting preliminary Phase 1 azer-cel data in Progressive MS in the second half, and announcing pivotal topline data for subcutaneous BRIUMVI by year-end 2026/1Q 2027.

6 days ago

Press Release

TG Therapeutics Provides Briumvi Revenue Targets and Pipeline Updates

TGTX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

TG Therapeutics is targeting $585 million in Briumvi revenues for the current year (2025) and expects a significantly larger number for next year (2026), though specific guidance has not yet been provided.
The company anticipates data from its consolidated dosing study in the middle to early second half of 2026 and aims to complete enrollment for its sub-Q program in the first half of 2026, with data expected toward the end of 2026.
Briumvi currently captures approximately one out of three new IV anti-CD20 patients, representing about a 20% share within the CD20 class and a 10% share among all MS new starts. TG Therapeutics plans a strategic sales force expansion, likely in the 10-20% range, to be completed by mid-2026.
The proprietary sub-Q Briumvi formulation has provisional patents filed, which, if issued, could provide patent protection until 2045.

Dec 2, 2025, 5:30 PM

Transcript

TG Therapeutics Updates on Briumvi Performance and Pipeline Progress

TGTX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

TG Therapeutics is targeting $585 million in Briumvi revenues for 2025.
The Briumvi consolidated dosing study expects data in the middle to early second half of 2026, and the sub-Q program anticipates completing enrollment in the first half of 2026 with data by the end of 2026.
The proprietary sub-Q Briumvi formulation has provisional patents filed, potentially providing patent protection until 2045.
The company plans a strategic sales force expansion focusing on specific areas of weakness to optimize prescriber breadth and depth.

Dec 2, 2025, 5:30 PM

Transcript

TG Therapeutics Discusses Briumvi Market Performance, SubQ Development, and 2026 Growth Initiatives

TGTX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Briumvi IV is gaining market share, with physicians moving it into the first IV slot due to data, convenience, and generous patient support programs. The company notes a significant proportion of patients switching from other CD20 therapies and other non-CD20 therapies.
The Enhanced trial for Briumvi, which combines initial doses, has seen impressive enrollment and aims for non-inferiority in area under the curve, potentially speeding up patient initiation by simplifying scheduling.
TG Therapeutics is not observing a significant market impact from Ocrevus SubQ and anticipates that BTK inhibitors will primarily compete in the oral product category rather than against CD20 infusions, citing compliance issues and efficacy preferences.
For Q4 2025, the company expects better growth than Q3 and is confident in meeting or exceeding its stated guidance.
The pivotal trial for SubQ Briumvi is projected to complete enrollment in H1 2026, with data expected in late 2026 or early 2027, targeting filing in H2 2027 and approval in H2 2028. This product is considered a significant opportunity, potentially expanding the total addressable market by 35%-40%.

Nov 12, 2025, 3:00 PM

Transcript

TG Therapeutics Discusses Briumvi Performance and Future Growth Initiatives

TGTX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Briumvi has achieved a strong position as the number one IV treatment in some academic centers, driven by data, patient convenience, and generous patient support programs, with a stable mix of new and crossover patients.
TG Therapeutics anticipates the enhanced trial (one-dose switch) for Briumvi will simplify scheduling and accelerate patient onboarding, receiving positive clinician feedback.
Management is confident in meeting or exceeding Q4 guidance for Briumvi and plans to accelerate 2026 growth by expanding its direct-to-consumer (DTC) campaign and strategically growing its field team.
The subcutaneous (subQ) Briumvi trial aims for enrollment completion in H1 2026, data in late 2026/early 2027, and approval in H2 2028, potentially doubling the total addressable market by entering the self-injectable segment.
The company observes limited market impact from Ocrevus SubQ and expects BTK inhibitors to compete mainly with oral products, not CD20s, citing skepticism about their efficacy.