$TGTX
TG THERAPEUTICS, INC.

2023 Q2 Form 10-Q Financial Statement

#000155837023008385 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $16.07M $7.803M
YoY Change 2606.06% 287.05%
Cost Of Revenue $1.911M $857.0K
YoY Change 8208.7% 261.6%
Gross Profit $14.16M $6.946M
YoY Change 2380.39% 290.44%
Gross Profit Margin 88.11% 89.02%
Selling, General & Admin $30.72M $28.07M
YoY Change 143.04% 36.19%
% of Gross Profit 216.87% 404.09%
Research & Development $28.12M $15.87M
YoY Change 4.64% -66.97%
% of Gross Profit 198.56% 228.48%
Depreciation & Amortization $32.00K $68.00K
YoY Change -58.97% -10.53%
% of Gross Profit 0.23% 0.98%
Operating Expenses $58.84M $44.80M
YoY Change 48.91% -34.97%
Operating Profit -$44.67M -$36.99M
YoY Change 14.72% -44.68%
Interest Expense -$3.627M $2.844M
YoY Change 20.22% 6.76%
% of Operating Profit
Other Income/Expense, Net $691.0K -$2.240M
YoY Change -52.28% 4.62%
Pretax Income -$47.61M -$39.23M
YoY Change 17.53% -43.15%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$47.61M -$39.23M
YoY Change 17.53% -43.15%
Net Earnings / Revenue -296.19% -502.78%
Basic Earnings Per Share -$0.34 -$0.28
Diluted Earnings Per Share -$0.34 -$0.28
COMMON SHARES
Basic Shares Outstanding 149.4M 146.4M
Diluted Shares Outstanding 141.5M 140.3M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.9M $139.7M
YoY Change -25.96% -40.09%
Cash & Equivalents $97.01M $61.47M
Short-Term Investments $47.90M $78.24M
Other Short-Term Assets $11.09M $4.458M
YoY Change 63.95% 10.9%
Inventory $30.23M $27.22M
Prepaid Expenses
Receivables $17.48M $8.623M
Other Receivables $0.00 $0.00
Total Short-Term Assets $208.6M $184.8M
YoY Change 2.97% -23.71%
LONG-TERM ASSETS
Property, Plant & Equipment $206.0K $237.0K
YoY Change -98.12% -54.94%
Goodwill $799.0K $799.0K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $1.279M $1.276M
YoY Change 1.03% 0.87%
Total Long-Term Assets $12.28M $12.58M
YoY Change -74.99% -79.32%
TOTAL ASSETS
Total Short-Term Assets $208.6M $184.8M
Total Long-Term Assets $12.28M $12.58M
Total Assets $220.9M $197.4M
YoY Change -12.24% -34.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.95M $57.09M
YoY Change 69.1% 14.95%
Accrued Expenses $8.153M $4.763M
YoY Change 86.91% 52.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.67M $63.08M
YoY Change 67.72% 15.41%
LONG-TERM LIABILITIES
Long-Term Debt $97.70M $96.50M
YoY Change 41.7% 43.5%
Other Long-Term Liabilities $10.03M $10.35M
YoY Change -3.13% -3.64%
Total Long-Term Liabilities $97.70M $96.50M
YoY Change 23.2% 43.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.67M $63.08M
Total Long-Term Liabilities $97.70M $96.50M
Total Liabilities $180.4M $169.9M
YoY Change 47.11% 28.11%
SHAREHOLDERS EQUITY
Retained Earnings -$1.614B -$1.600B
YoY Change 14.29%
Common Stock $151.0K $149.0K
YoY Change 2.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.45M $27.43M
YoY Change
Total Liabilities & Shareholders Equity $220.9M $197.4M
YoY Change -12.24% -34.87%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$47.61M -$39.23M
YoY Change 17.53% -43.15%
Depreciation, Depletion And Amortization $32.00K $68.00K
YoY Change -58.97% -10.53%
Cash From Operating Activities -$42.00M -$59.90M
YoY Change -14.48% -12.79%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $30.50M -$6.168M
YoY Change 193.87% -85.87%
Cash From Investing Activities $30.50M -$6.168M
YoY Change 193.87% -85.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 47.05M 25.24M
YoY Change 34749.63% -3069.18%
NET CHANGE
Cash From Operating Activities -42.00M -59.90M
Cash From Investing Activities 30.50M -6.168M
Cash From Financing Activities 47.05M 25.24M
Net Change In Cash 35.54M -40.83M
YoY Change -192.08% -63.93%
FREE CASH FLOW
Cash From Operating Activities -$42.00M -$59.90M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$42.00M -$59.90M
YoY Change -14.48% -12.8%

Facts In Submission

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
300151000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62745000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186941000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61469000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
185676000
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
1276000
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
1265000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62745000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186941000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1749000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1584000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1600000000
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
139700000
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
243000
CY2023Q1 tgtx Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Interest Accrued Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityInterestAccruedIncludedInEarnings
270000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-210000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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14209749
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12657717
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14209749
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12657717
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
303000
CY2023Q1 tgtx Gross Net Accruals
GrossNetAccruals
1900000
CY2023Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
78241000
CY2023Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
2000
CY2023Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
951000
CY2023Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
77292000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
71778000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
1482000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
70296000
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
24000
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
27145000
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
52000
CY2023Q1 us-gaap Inventory Net
InventoryNet
27221000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6800000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2100000
CY2021Q4 tgtx Paid In Kind Interest Rate
PaidInKindInterestRate
0.0345
CY2023Q1 tgtx Number Of Additional Advance Under Tranche
NumberOfAdditionalAdvanceUnderTranche
2
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0895
CY2023Q1 tgtx Debt Instrument Paid In Kind Interest Rate
DebtInstrumentPaidInKindInterestRate
0.0225
CY2023Q1 tgtx Debt Instrument Final Payment Fee On Other Advances
DebtInstrumentFinalPaymentFeeOnOtherAdvances
0.0495
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
95000000
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
70000000
CY2023Q1 tgtx End Of Term Fee
EndOfTermFee
8532000
CY2022Q4 tgtx End Of Term Fee
EndOfTermFee
6667000
CY2023Q1 tgtx Long Term Debt Gross
LongTermDebtGross
103532000
CY2022Q4 tgtx Long Term Debt Gross
LongTermDebtGross
76667000
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7029000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5532000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
96503000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
71135000
CY2023Q1 tgtx Long Term Debt Excluding Principal Payments
LongTermDebtExcludingPrincipalPayments
96503000
CY2022Q4 tgtx Long Term Debt Excluding Principal Payments
LongTermDebtExcludingPrincipalPayments
71135000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
96503000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
71135000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
11600000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8700000
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
544000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
514000
CY2023Q1 us-gaap Lease Cost
LeaseCost
544000
CY2022Q1 us-gaap Lease Cost
LeaseCost
514000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1546000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1581000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10079000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10344000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
11625000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11925000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1782000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2388000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2100000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2080000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1913000
CY2023Q1 tgtx Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
6542000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16805000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5180000
CY2023Q1 tgtx Operating Lease Liability Incremental Borrowing Rate
OperatingLeaseLiabilityIncrementalBorrowingRate
11625000

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