TGTX Q4 Earnings Lag Estimates, Briumvi Sales Drive Top Line

TG Therapeutics TGTX reported earnings of 14 cents per share for the fourth quarter of 2025, which substantially missed the Zacks Consensus Estimate of 35 cents. The company had reported earnings of 15 cents per share in the year-ago quarter.

Total revenues in the fourth quarter were $192.6 million, up almost 78% year over year, driven by strong demand for the company’s sole marketed drug, Briumvi (ublituximab-xiiy). The figure marginally beat the Zacks Consensus Estimate of $192 million.

Briumvi, an anti-CD20 monoclonal antibody, was approved by the FDA for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS) in December 2022. The drug is also approved in the European Union, the United Kingdom, Australia, Switzerland and certain other countries.

Shares of TG Therapeutics have increased 8.2% in the past six months compared with the industry’s rise of 22.4%.

Image Source: Zacks Investment Research

TGTX's Q4 Earnings in Detail

The top line comprised product sales from Briumvi and license, royalty and other revenues.

Total product revenues were $189.1 million in the fourth quarter, reflecting an increase of 76.2% year over year. Total product revenues included sales of Briumvi to TGTX’s licensing partner, in ex-U.S. markets, Neuraxpharm, of $6.4 million.

TG Therapeutics has an agreement with Neuraxpharm Pharmaceuticals for the ex-U.S. commercialization of Briumvi, wherein the company is entitled to receive payments upon the achievement of certain commercial milestones and targets.

Briumvi's net product sales in the United States were $182.7 million in the fourth quarter, up 76.4% year over year. Sales of the drug increased 20% sequentially.

License, milestone, royalty and other revenues were $3.5 million in the fourth quarter, compared with $0.8 million reported in the year-ago quarter.

Research and development (R&D) expenses (excluding non-cash compensation) surged around 81.6% year over year to $37.6 million due to higher manufacturing expenses related to the development of the subcutaneous formulation of Briumvi and increased expenses related to ongoing clinical studies.

Selling, general and administrative (SG&A) expenses (excluding non-cash compensation) totaled $50.7 million, up almost 67.8% from the year-ago quarter’s level, due to higher commercialization costs for Briumvi as well as other personnel costs.

As of Dec. 31, 2025, TG Therapeutics had cash, cash equivalents and investments worth $199.5 million compared with $178.3 million as of Sept. 30, 2025.

TGTX’s Full-Year Results

For full-year 2025, the company reported total revenues of $616.3 million, reflecting an increase of 87.3% year over year.

For the same period, the company recorded earnings of $2.77 per share, significantly up from earnings of 15 cents reported in the year-ago quarter.

TGTX’s 2026 Guidance

TG Therapeutics reaffirmed its total revenue guidance, which it had provided in January 2026.

The company expects worldwide total revenues in the range of $875 million to $900 million in 2026, including net product revenues of $825-$850 million from Briumvi sales in the United States.

In the first quarter of 2026, net product revenues from Briumvi sales in the United States are expected to be $185-$190 million.

Excluding non-cash compensation, total operating expenses, defined as R&D and SG&A, are expected to be around $350 million in 2026.

TGTX’s Recent Pipeline Updates

Several additional studies on Briumvi targeting other autoimmune diseases are currently ongoing.

TG Therapeutics recently commenced patient enrollment in the phase III pivotal program for subcutaneous Briumvi in RMS. Top-line data from this study is expected to be announced by the end of 2026 or the first quarter of 2027.

The company has completed patient enrollment in the phase III ENHANCE study evaluating the potential to consolidate the day one and day 15 infusions of intravenous Briumvi into a single 600-mg infusion on day one. Top-line data from the study is expected in mid-2026.

Beyond MS, TG Therapeutics is also developing Briumvi for additional autoimmune indications, including a phase I study for treating patients with myasthenia gravis.

TG Therapeutics is also developing azer-cel, an allogeneic CD19-directed CAR T cell therapy, in a phase I study for treating patients with primary progressive multiple sclerosis.

TG Therapeutics, Inc. Price, Consensus and EPS Surprise

TG Therapeutics, Inc. price-consensus-eps-surprise-chart | TG Therapeutics, Inc. Quote

TGTX's Zacks Rank & Stocks to Consider

TG Therapeutics currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the biotech sector are Castle Biosciences CSTL, ANI Pharmaceuticals ANIP and Arcus Biosciences RCUS. While Castle Biosciences currently sports a Zacks Rank #1 (Strong Buy), ANI Pharmaceuticals and Arcus Biosciences hold a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.06 to 96 cents. CSTL’s shares have rallied 54.6% over the past six months.

Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 66.11%.

Over the past 60 days, estimates for ANI Pharmaceuticals’ 2026 earnings per share have increased from $8.08 to $8.22. ANIP’s shares have fallen 15.9% in the past six months.

ANI Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 21.24%.

Over the past 60 days, Arcus Biosciences’ 2026 loss per share estimates have narrowed from $3.90 to $3.86. RCUS’ shares have soared 88.2% in the past six months.

Arcus Biosciences’ earnings beat estimates in three of the trailing four quarters and missed on one occasion, with the average surprise being 28.14%.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Free: See Our Top Stock And 4 Runners Up

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

TG Therapeutics, Inc. (TGTX): Free Stock Analysis Report

ANI Pharmaceuticals, Inc. (ANIP): Free Stock Analysis Report

Arcus Biosciences, Inc. (RCUS): Free Stock Analysis Report

Castle Biosciences, Inc. (CSTL): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research