Fri, May 9, 8:39 PM (13 days ago)
### Summary of TG Therapeutics, Inc. (TGTX) Q1 2025 Financial Performance **Overview:** TG Therapeutics, Inc. (TGTX) reported its financial results for the first quarter ended March 31, 2025. The company continues to focus on the acquisition, development, and commercialization of novel treatments for B-cell diseases, with a primary focus on BRIUMVI (ublituximab-xiiy) for relapsing forms of multiple sclerosis (RMS). **Financial Highlights:** 1. **Revenue:** - **Product Revenue, Net:** $119.7 million, up from $50.5 million in Q1 2024, driven by greater market penetration of BRIUMVI. - **License, Milestone, Royalty, and Other Revenue:** $1.2 million, down from $13.0 million in Q1 2024, primarily due to the recognition of a one-time milestone payment in Q1 2024. 2. **Costs and Expenses:** - **Cost of Revenue:** $15.5 million, up from $5.4 million in Q1 2024, primarily due to royalties and manufacturing costs. - **Research and Development (R&D):** $46.4 million, up from $32.7 million in Q1 2024, driven by increased manufacturing expenses for ublituximab subcutaneous development. - **Selling, General, and Administrative (SG&A):** $50.3 million, up from $34.6 million in Q1 2024, due to increased personnel and consultant costs related to BRIUMVI commercialization. 3. **Operating Income:** $8.6 million, compared to an operating loss of $9.3 million in Q1 2024. 4. **Net Income:** $5.1 million, compared to a net loss of $10.7 million in Q1 2024. 5. **Cash Flow:** - **Operating Activities:** Net cash used was $28.7 million, up from $8.2 million in Q1 2024, due to increased accounts receivable and inventory purchases. - **Investing Activities:** Net cash used was $12.9 million, up from $9.3 million in Q1 2024, primarily due to increased investment in short-term securities. - **Financing Activities:** Net cash used was $6.1 million, compared to a negligible amount in Q1 2024, due to stock repurchases under the share repurchase program. **Liquidity and Capital Resources:** - As of March 31, 2025, TGTX had $276.2 million in cash and cash equivalents, and short-term investment securities. The company anticipates that its cash, cash equivalents, and investment securities, combined with projected revenues from BRIUMVI, will provide sufficient liquidity for more than a twelve-month period. **Future Operations Impact:** - TGTX continues to invest in the commercialization of BRIUMVI and the development of other drug candidates, including azercabtagene zapreleucel (azer-cel) for autoimmune diseases. The company faces various uncertainties, including regulatory approvals, market acceptance, and competitive pressures. **Trends and Uncertainties:** - The company's financial performance is subject to fluctuations due to research and development expenses, commercialization activities, and market conditions. TGTX may need to raise additional capital to support ongoing and future operations. **Conclusion:** TG Therapeutics, Inc. demonstrated strong revenue growth in Q1 2025, driven by the commercial success of BRIUMVI. However, the company continues to face significant expenses related to research and development, as well as commercialization efforts. The financial health of TGTX is positively trending, but the company must navigate regulatory, competitive, and market uncertainties to sustain growth and profitability.