2024 Q1 Form 10-K Financial Statement

#000143774924006144 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $63.47M $43.97M $233.7M
YoY Change 713.46% 54863.75% 8290.02%
Cost Of Revenue $5.441M $7.855M $14.13M
YoY Change 534.89% 261733.33% 5232.45%
Gross Profit $58.03M $36.12M $219.5M
YoY Change 735.49% 46803.9% 8611.55%
Gross Profit Margin 91.43% 82.14% 93.95%
Selling, General & Admin $34.58M $31.15M $122.7M
YoY Change 23.2% 38.43% 75.28%
% of Gross Profit 59.59% 86.26% 55.89%
Research & Development $32.72M $17.45M $76.19M
YoY Change 106.19% -41.12% -39.22%
% of Gross Profit 56.39% 48.31% 34.71%
Depreciation & Amortization $29.00K $38.00K $211.0K
YoY Change -57.35% -47.95% -30.36%
% of Gross Profit 0.05% 0.11% 0.1%
Operating Expenses $67.30M $48.60M $198.9M
YoY Change 50.25% -6.79% 1.67%
Operating Profit -$9.270M -$12.49M $20.63M
YoY Change -74.94% -76.02% -110.7%
Interest Expense $2.288M -$2.432M $12.62M
YoY Change -19.55% -15.02% 23.79%
% of Operating Profit 61.14%
Other Income/Expense, Net -$1.408M $891.0K -$7.571M
YoY Change -37.14% -53.83% 37.75%
Pretax Income -$10.68M -$14.03M $13.06M
YoY Change -72.78% -73.53% -106.59%
Income Tax $29.00K $390.0K $390.0K
% Of Pretax Income 2.99%
Net Earnings -$10.71M -$14.42M $12.67M
YoY Change -72.71% -72.8% -106.39%
Net Earnings / Revenue -16.87% -32.79% 5.42%
Basic Earnings Per Share -$0.07 $0.09
Diluted Earnings Per Share -$0.07 -$0.10 $0.09
COMMON SHARES
Basic Shares Outstanding 154.4M 151.4M 142.0M
Diluted Shares Outstanding 148.5M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.8M $217.5M $217.5M
YoY Change 50.16% 34.53% 34.53%
Cash & Equivalents $75.48M $92.93M $92.93M
Short-Term Investments $134.3M $124.6M $124.6M
Other Short-Term Assets $8.095M $5.336M $9.519M
YoY Change 81.58% 126.2% 44.31%
Inventory $77.72M $39.82M $39.82M
Prepaid Expenses
Receivables $64.98M $51.09M $51.09M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $360.6M $317.9M $317.9M
YoY Change 95.14% 88.94% 88.94%
LONG-TERM ASSETS
Property, Plant & Equipment $66.00K $95.00K $9.560M
YoY Change -72.15% -69.06% -11.66%
Goodwill $799.0K $799.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.320M $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $1.289M $1.285M $1.285M
YoY Change 1.02% 0.94% 0.94%
Total Long-Term Assets $12.74M $11.64M $11.64M
YoY Change 1.33% -53.97% -53.97%
TOTAL ASSETS
Total Short-Term Assets $360.6M $317.9M $317.9M
Total Long-Term Assets $12.74M $11.64M $11.64M
Total Assets $373.3M $329.6M $329.6M
YoY Change 89.16% 70.27% 70.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.27M $38.47M $38.47M
YoY Change 52.85% -8.44% -8.44%
Accrued Expenses $4.981M $13.62M $13.62M
YoY Change 4.58% 36.0% 36.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $99.68M $53.72M $53.72M
YoY Change 58.04% 0.98% 0.98%
LONG-TERM LIABILITIES
Long-Term Debt $101.3M $100.1M $100.1M
YoY Change 5.0% 40.74% 40.74%
Other Long-Term Liabilities $12.20M $15.25M $15.25M
YoY Change 17.96% 43.18% 43.18%
Total Long-Term Liabilities $101.3M $100.1M $115.4M
YoY Change 5.0% 40.74% 41.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.68M $53.72M $53.72M
Total Long-Term Liabilities $101.3M $100.1M $115.4M
Total Liabilities $213.2M $169.1M $169.1M
YoY Change 25.48% 25.26% 25.26%
SHAREHOLDERS EQUITY
Retained Earnings -$1.500B -$1.514B
YoY Change -6.25% -0.83%
Common Stock $155.0K $151.0K
YoY Change 4.03% 3.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $160.1M $160.5M $160.5M
YoY Change
Total Liabilities & Shareholders Equity $373.3M $329.6M $329.6M
YoY Change 89.16% 70.27% 70.27%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$10.71M -$14.42M $12.67M
YoY Change -72.71% -72.8% -106.39%
Depreciation, Depletion And Amortization $29.00K $38.00K $211.0K
YoY Change -57.35% -47.95% -30.36%
Cash From Operating Activities -$8.207M -$13.21M -$31.41M
YoY Change -86.3% -44.66% -82.17%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$9.255M -$44.76M -$50.65M
YoY Change 50.05% -375.04% 153.27%
Cash From Investing Activities -$9.255M -$44.76M -$50.65M
YoY Change 50.05% -375.09% 153.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $46.30M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $10.00K -1.000K $72.71M
YoY Change -99.96% -102.04% -18694.63%
NET CHANGE
Cash From Operating Activities -$8.207M -13.21M -$31.41M
Cash From Investing Activities -$9.255M -44.76M -$50.65M
Cash From Financing Activities $10.00K -1.000K $72.71M
Net Change In Cash -$17.45M -57.97M -$9.359M
YoY Change -57.26% 667.56% -95.24%
FREE CASH FLOW
Cash From Operating Activities -$8.207M -$13.21M -$31.41M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$13.21M -$31.41M
YoY Change -44.67% -82.17%

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CY2023 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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CY2023 us-gaap Net Income Loss
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2023 us-gaap Share Based Compensation
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CY2022 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
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CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2023 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
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CY2022 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
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CY2021 us-gaap Investment Income Net Amortization Of Discount And Premium
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CY2022 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Amortization Of Financing Costs
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CY2023 tgtx Amortization Of Leasehold Interest
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212000 usd
CY2022 tgtx Amortization Of Leasehold Interest
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CY2021 tgtx Amortization Of Leasehold Interest
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OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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CY2023 tgtx Change In Fair Value Of Notes Payable
ChangeInFairValueOfNotesPayable
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CY2022 tgtx Change In Fair Value Of Notes Payable
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116000 usd
CY2021 tgtx Change In Fair Value Of Notes Payable
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Other Current Assets
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CY2021 us-gaap Increase Decrease In Other Current Assets
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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1389000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
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CY2022 us-gaap Increase Decrease In Other Current Liabilities
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2023 us-gaap Increase Decrease In Deferred Revenue
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5711000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
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CY2021 us-gaap Increase Decrease In Deferred Revenue
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2022 us-gaap Payments To Acquire Held To Maturity Securities
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CY2021 us-gaap Payments To Acquire Held To Maturity Securities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Repayments Of Secured Debt
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2021 us-gaap Proceeds From Stock Options Exercised
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CY2023 us-gaap Proceeds From Issuance Of Debt
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CY2022 us-gaap Proceeds From Issuance Of Debt
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CY2021 us-gaap Payments Of Financing Costs
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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CY2021Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 tgtx Deferred Financing Costs Noncash
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1238000 usd
CY2022 tgtx Deferred Financing Costs Noncash
DeferredFinancingCostsNoncash
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CY2021 tgtx Deferred Financing Costs Noncash
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CY2023 tgtx Warrants Issued With Debt Financing Noncash
WarrantsIssuedWithDebtFinancingNoncash
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CY2022 tgtx Warrants Issued With Debt Financing Noncash
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CY2021 tgtx Warrants Issued With Debt Financing Noncash
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2023 us-gaap Use Of Estimates
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>USE OF ESTIMATES</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the applicable reporting period. On an ongoing basis, we evaluate our estimates and judgments, including those related to revenue, accrued clinical trial expenses and stock-based compensation. Actual results could differ from those estimates. Such differences could be material to the financial statements.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"></p>
CY2023Q4 us-gaap Restricted Cash And Investments
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CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>CREDIT RISK</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company maintains its cash and cash equivalents and short-term investments with high-credit quality financial institutions. At times, such amounts <em style="font: inherit;"> may </em>exceed federally-insured limits.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"></p>
CY2022Q4 tgtx Prepaid Research And Development
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CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Diluted
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CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2785000 usd
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CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2023Q4 us-gaap Inventory Work In Process
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CY2023Q4 us-gaap Inventory Finished Goods
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CY2023Q4 us-gaap Notes Payable Fair Value Disclosure
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CY2023Q4 us-gaap Liabilities Fair Value Disclosure
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357000 usd
CY2022Q4 us-gaap Notes Payable Fair Value Disclosure
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CY2022Q4 us-gaap Liabilities Fair Value Disclosure
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2023Q4 us-gaap Treasury Stock Common Shares
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CY2023Q4 us-gaap Treasury Stock Value
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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2975000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.1
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
164443
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.84
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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