TG Therapeutics, Inc.
tgtherapeutics.comWhat Do They Do?
Sells BRIUMVI, a treatment for adults with relapsing multiple sclerosis, to healthcare providers, and develops other treatments for B-cell diseases.
10-K for FY2025, filed Feb 27, 2026
How Do They Make Money?
The company sells BRIUMVI, with sales tied to delivery to customers. Pharmaceutical partners can pay upfront, at milestones, and through royalties on product sales.
10-K for FY2025, filed Feb 27, 2026
-
10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service ↗
$616.3M
-
10-K for FY2025, filed Feb 27, 2026
$616.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Feb 27, 2026 |
98%
FY2022: 95%
|
Product, FY2025
$606.9M Sources
|
Sold outright |
|
License Revenue
Licensed
|
<0.1%
FY2022: 5.5%
|
License Revenue, FY2025
$152K Sources
|
Licensed |
|
Milestone
|
0.0% |
Milestone, FY2025
$0 Sources
|
|
|
Royalty
Licensed
|
0.9% |
Royalty, FY2025
$5.6M Sources
|
Licensed |
|
Other Revenue
|
0.6% |
Other Revenue, FY2025
$3.6M Sources
|
Who Are Their Customers?
TG sells BRIUMVI primarily through specialty distributors and supplies its licensing partner Neuraxpharm, which commercializes the medicine in certain territories outside the United States.
10-K for FY2025, filed Feb 27, 2026The Company primarily sells BRIUMVI through specialty distributors. The following table summarizes customers that represented 10% or more…View ↗
The Company began shipping BRIUMVI to its U.S. customers in January 2023, and BRIUMVI to its ex-U.S. licensing partner, Neuraxpharm, in…View ↗
In August 2023, we entered into a Commercialization Agreement with Neuraxpharm, a leading European specialty pharmaceutical company focused…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 73 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$25M.
10-K for FY2025, filed Feb 27, 2026
$123.3MView ↗
10-K for FY2025, filed Feb 27, 2026
$447.2MView ↗
10-K for FY2025, filed Feb 27, 2026
−$25MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 92.1x in 4 years, from $6.7M in FY2021 to $616.3M in FY2025, about 210% a year.
From oncology to an MS focus
The older report discussed UKONIQ and a cancer program combining it with ublituximab, then said UKONIQ was withdrawn and related studies were closed. The latest report centers on BRIUMVI and multiple sclerosis, while developing other B-cell disease treatments.
10-K for FY2022, filed Mar 1, 2023On February 5, 2021, we announced that the FDA granted accelerated approval of umbralisib, the Company’s PI3K delta inhibitor, then…View ↗
To further expand the use of UKONIQ and to obtain the approval of ublituximab, our anti-CD20 monoclonal antibody under development, we…View ↗
On April 15, 2022, we also announced the voluntary withdrawal of UKONIQ from sale for its approved indications. Our decision to withdraw…View ↗
As a result of these withdrawals, we closed or are in the process of closing all studies related to umbralisib +/- ublituximab in oncology.View ↗
Who Do They Compete With?
Competes with Roche Holdings and Novartis
10-K for FY2025, filed Feb 27, 2026Currently, BRIUMVI directly competes with ocrelizumab, the only other approved intravenously administered anti-CD20 monoclonal antibody…View ↗
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