TG Therapeutics Q3 2024: Assets Near Liabilities
Ticker: TGTX · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1001316
Sentiment: neutral
Topics: financials, 10-Q, pharmaceuticals
TL;DR
TG Therapeutics Q3 2024: Assets $155.9M, Liabilities $155.8M. Revenue $133.6K.
AI Summary
TG Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $155,910,901 and total liabilities of $155,777,291 for the nine months ended September 30, 2024. Revenue for the nine months ended September 30, 2024, was $133,610.
Why It Matters
This filing provides a snapshot of TG Therapeutics' financial health, showing a near balance between assets and liabilities, which is crucial for investors assessing the company's stability and operational capacity.
Risk Assessment
Risk Level: medium — The near parity of assets and liabilities suggests a potentially tight financial situation, warranting closer examination of the company's cash flow and debt obligations.
Key Numbers
- $155.9B — Total Assets (As of September 30, 2024, for the nine-month period.)
- $155.8B — Total Liabilities (As of September 30, 2024, for the nine-month period.)
- $133.6K — Revenue (For the nine months ended September 30, 2024.)
Key Players & Entities
- TG THERAPEUTICS, INC. (company) — Filer
- 20240930 (date) — Period of Report
- $155,910,901 (dollar_amount) — Total Assets for nine months ended 09/30/2024
- $155,777,291 (dollar_amount) — Total Liabilities for nine months ended 09/30/2024
- $133,610 (dollar_amount) — Revenue for nine months ended 09/30/2024
FAQ
What was TG Therapeutics' net income or loss for the nine months ended September 30, 2024?
The filing does not explicitly state net income or loss in the provided snippet, but the proximity of total assets ($155,910,901) to total liabilities ($155,777,291) suggests a very small net income or a slight net loss.
What is the company's primary business activity?
TG Therapeutics, Inc. is in the Pharmaceutical Preparations industry, SIC code 2834.
What was the incremental borrowing rate used for leases?
The company used an incremental borrowing rate of 10.25% for operating leases commenced before February 28, 2019, through December 31, 2021, and 5.65% for the NC lease.
When was TG Therapeutics, Inc. incorporated?
The company was incorporated in Delaware (DE).
What were the company's cash and cash equivalents as of September 30, 2024?
The provided snippet does not contain specific figures for cash and cash equivalents.
Filing Stats: 4,451 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-07 16:33:58
Key Financial Figures
- $0.001 — Exchange Name Common Stock, par value $0.001 TGTX Nasdaq Capital Market Indicat
Filing Documents
- tgtx20240930_10q.htm (10-Q) — 1722KB
- ex_741510.htm (EX-10.1) — 564KB
- ex_716997.htm (EX-31.1) — 12KB
- ex_716998.htm (EX-31.2) — 12KB
- ex_716999.htm (EX-32.1) — 6KB
- ex_717000.htm (EX-32.2) — 6KB
- f01.jpg (GRAPHIC) — 54KB
- f02.jpg (GRAPHIC) — 6KB
- fujifilm01.jpg (GRAPHIC) — 11KB
- 0001437749-24-033948.txt ( ) — 7618KB
- tgtx-20240930.xsd (EX-101.SCH) — 56KB
- tgtx-20240930_cal.xml (EX-101.CAL) — 43KB
- tgtx-20240930_def.xml (EX-101.DEF) — 396KB
- tgtx-20240930_lab.xml (EX-101.LAB) — 345KB
- tgtx-20240930_pre.xml (EX-101.PRE) — 423KB
- tgtx20240930_10q_htm.xml (XML) — 939KB
Financial Statements
Financial Statements: 6 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations (unaudited) 7 Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) 8 Condensed Consolidated Statements of Cash Flows (unaudited) 9 Notes to Condensed Consolidated Financial Statements (unaudited) 10 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4
Controls and Procedures
Controls and Procedures 35 PART II OTHER INFORMATION 35 Item 1
Legal Proceedings
Legal Proceedings 35 Item 1A
Risk Factors
Risk Factors 36 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 82 Item 3 Defaults of Senior Securities 82 Item 4 Mine Safety Disclosures 82 Item 5 Other Information 82 Item 6 Exhibits 83 2 Table of Contents SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS Certain matters discussed in this report, including matters discussed under the captions "Risk Factors" 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 (the Securities Act), and the Securities Exchange Act of 1934, as amended (the 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 azercabtagene zapreleucel (azer-cel), and our ability to maintain regulatory appro
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS TG Therapeutics, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) September 30, December 31, 2024 2023 (Unaudited) (Note 1) Assets Current assets: Cash and cash equivalents $ 195,822 $ 92,933 Short-term investment securities 145,219 124,575 Accounts receivable, net 115,727 51,093 Inventories 84,669 39,823 Other current assets 32,632 9,519 Total current assets 574,069 317,943 Restricted cash 1,295 1,285 Long-term investment securities 1,125 — Right of use assets 7,411 8,050 Other noncurrent assets(1) 2,114 2,309 Total assets $ 586,014 $ 329,587 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued expenses $ 101,407 $ 38,471 Other current liabilities 3,298 1,479 Lease liability – current portion 1,231 1,446 Deferred revenue - current portion 9,093 152 Accrued compensation 10,085 12,172 Total current liabilities 125,114 53,720 Deferred revenue, non-current portion 16,166 6,016 Loan payable – non-current 244,158 100,118 Lease liability – non-current 8,419 9,231 Total liabilities 393,857 169,085 Commitments and contingencies Stockholders' equity: Common stock, $ 0.001 par value per share ( 190,000,000 and 175,000,000 shares authorized, 155,910,901 and 151,465,598 shares issued, 155,777,291 and 151,424,289 shares outstanding at September 30, 2024 and December 31, 2023, respectively) 156 151 Additional paid-in capital 1,746,909 1,713,162 Treasury stock, at cost, 133,610 and 41,309 shares at September 30, 2024 and December 31, 2023, respectively ( 2,383 ) ( 234 ) Accumulated deficit ( 1,552,525 ) ( 1,552,577 ) Total stockholders' equity 192,157 160,502 Total liabilities and stockholders' equity $ 586,014 $ 329,587 The accompanying notes are an integral part of the condensed consolidated financial statements. (1) Amounts as of December 31, 2023 have been reclass