TG Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>TG Therapeutics, Inc. filed its 2023 10-K, reporting $151.5M in assets and $146.4M in net income.</b>

AI Summary

TG THERAPEUTICS, INC. (TGTX) filed a Annual Report (10-K) with the SEC on February 29, 2024. TG Therapeutics, Inc. reported total assets of $151,465,598 as of December 31, 2023. The company's net income for the fiscal year ended December 31, 2023, was $146,426,697. Earnings per share (EPS) for the fiscal year ended December 31, 2023, were $1.46. Total debt as of December 31, 2023, was $151,424,289. The company's operating margin for the fiscal year ended December 31, 2023, was 0.09.

Why It Matters

For investors and stakeholders tracking TG THERAPEUTICS, INC., this filing contains several important signals. The filing provides a comprehensive overview of TG Therapeutics' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. Key financial figures such as total assets, net income, and EPS offer insights into the company's growth trajectory and profitability, guiding investment decisions.

Risk Assessment

Risk Level: medium — TG THERAPEUTICS, INC. shows moderate risk based on this filing. The company's financial statements indicate significant debt relative to its assets and a low operating margin, suggesting potential financial strain or investment in growth.

Analyst Insight

Investors should closely examine the company's debt structure and revenue generation strategies in light of its current financial position.

Financial Highlights

operating Margin

0.09

total Assets

151,465,598

total Debt

151,424,289

net Income

146,426,697

eps

1.46

Key Numbers

• 151,465,598 — Total Assets (As of December 31, 2023)
• 146,426,697 — Net Income (Fiscal year ended December 31, 2023)
• 1.46 — EPS (Fiscal year ended December 31, 2023)
• 151,424,289 — Total Debt (As of December 31, 2023)
• 0.09 — Operating Margin (Fiscal year ended December 31, 2023)

Key Players & Entities

• TG THERAPEUTICS, INC. (company) — Filer name
• TGTX (company) — Ticker symbol
• 2023-12-31 (date) — Conformed period of report
• 2024-02-29 (date) — Filed as of date
• NEW YORK (location) — Business address city
• PHARMACEUTICAL PREPARATIONS (industry) — Standard Industrial Classification

FAQ

Industry Context

TG Therapeutics operates in the pharmaceutical preparations industry, focusing on the development of treatments for cancer and autoimmune diseases.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (Form 10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's product pipeline and clinical trial progress mentioned in the report.
3. Compare the 2023 financial results with previous years to identify trends.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.001 — Exchange Name Common Stock, par value $0.001 TGTX Nasdaq Capital Market Securit

Filing Documents

• tgtx20231231_10k.htm (10-K) — 2149KB
• ex_631839.htm (EX-10.38) — 511KB
• ex_632901.htm (EX-19.1) — 108KB
• ex_579420.htm (EX-21.1) — 4KB
• ex_579421.htm (EX-23.1) — 2KB
• ex_579423.htm (EX-31.1) — 12KB
• ex_579424.htm (EX-31.2) — 12KB
• ex_579425.htm (EX-32.1) — 6KB
• ex_579426.htm (EX-32.2) — 6KB
• ex_632982.htm (EX-97.1) — 59KB
• picture1small.jpg (GRAPHIC) — 106KB
• tglogo01.jpg (GRAPHIC) — 6KB
• 0001437749-24-006144.txt (&nbsp;) — 9953KB
• tgtx-20231231.xsd (EX-101.SCH) — 73KB
• tgtx-20231231_cal.xml (EX-101.CAL) — 46KB
• tgtx-20231231_def.xml (EX-101.DEF) — 502KB
• tgtx-20231231_lab.xml (EX-101.LAB) — 458KB
• tgtx-20231231_pre.xml (EX-101.PRE) — 538KB
• tgtx20231231_10k_htm.xml (XML) — 1360KB

Business

Business 5 ITEM 1A

Risk Factors

Risk Factors 21 ITEM 1B Unresolved Staff Comments 57 ITEM 1C Cybersecurity 57 ITEM 2

Properties

Properties 57 ITEM 3

Legal Proceedings

Legal Proceedings 57 ITEM 4 Mine Safety Disclosures 57 PART II 58 ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 58 ITEM 6 Removed and Reserved 58 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 59 ITEM 7A Quantitative and Qualitative Disclosure About Market Risk 67 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 67 ITEM 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 67 ITEM 9A

Controls and Procedures

Controls and Procedures 67 ITEM 9B Other Information 67 PART III 68 ITEM 10 Directors, Executive Officers and Corporate Governance 68 ITEM 11

Executive Compensation

Executive Compensation 68 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 ITEM 13 Certain Relationships and Related Transactions, and Director Independence 68 ITEM 14 Principal Accounting Fees and Services 68 PART IV 69 ITEM 15 Exhibits and Financial Statement Schedules 69 1 Table of Contents SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS Certain matters discussed in this report, including matters discussed under the captions "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended (Securities Act), and the Securities Exchange Act of 1934, as amended (Exchange Act), and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would" or the negative of these words or other comparable terminology, although not all forward-looking statements contain these identifying words. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements. In addition, with respect to all of our forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about: our ability to obtain and maintain regulatory approvals for our product candidates, including TG-1701, T

BUSINESS

ITEM 1. BUSINESS. OVERVIEW TG Therapeutics is a fully-integrated, commercial stage, biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell mediated diseases. In addition to a research pipeline including several investigational medicines, TG has received approval from the U.S. Food and Drug Administration (FDA) for BRIUMVI (ublituximab-xiiy) for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease, in adults, as well as approval by the European Commission (EC) and the Medicines and Healthcare products Regulatory Agency (MHRA) for BRIUMVI to treat adult patients with RMS who have active disease defined by clinical or imaging features in Europe and the United Kingdom (UK), respectively. We also actively evaluate complementary products, technologies and companies for in-licensing, partnership, acquisition and/or investment opportunities. Business Highlights FDA Approval and U.S. Launch of BRIUMVI On December 28, 2022, we announced that the FDA granted approval of ublituximab, now referred to as BRIUMVI, for the treatment of RMS, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. BRIUMVI is an anti-CD20 monoclonal antibody approved for patients with RMS that can be administered in a one-hour infusion following the starting dose. Approval was granted for this indication based on data from the ULTIMATE I & II Phase 3 trials, which demonstrated superiority over teriflunomide in significantly reducing the annualized relapse rate (ARR, the primary endpoint), the number of T1 Gd-enhancing lesions and the number of new or enlarging T2 lesions. Results from the ULTIMATE I & II trials were published in August 2022 in The New England Journal of Medicine. On January 26, 2023, we announced the commerci

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View this 10-K filing on SEC EDGAR