TGTX Stock — TG Therapeutics Inc.: Cash, EV, Pipeline

What they do

We also actively evaluate complementary products, technologies and companies for in-licensing, partnership, acquisition and/or investment opportunities.

Source: 10-K FY2025 via SEC EDGAR

Share price

$63.63

Market cap

$9,618.3M

Cash

$504.7M

Enterprise value

$9,859.2M

Balance sheet

Cash	$504.7M
Debt	$745.6M
Net cash	-$240.9M
Enterprise value	$9,859.2M
Basic shares	151.2M shares
Fully diluted shares	167.2M shares
Fully diluted market cap	$10,638.8M
Cash per share	$3.34
Quarterly burn	+$39.3M generated

Cash figures as of 2026-09-30. Database snapshot: 2026-11-11.

Share structure

Common

151.1M

Pre-funded warrants

0.0M

Options

4.0M

RSUs

12.0M

Warrants

—

Converts

0.0M

Conv preferred

—

ESPP reserve

—

FDSO

167.2M

Cap table as of 2026-11-09.

Price history

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Next catalyst

Ublituximab · Dec 12, 2026 - Jan 23, 2027 in 4 wks · Phase 3 · Relapsing Multiple Sclerosis

Recently reported

Ublituximab Mixed · 2026-06-03

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 12, 2026 - Jan 23, 2027 in 4 wks	Ublituximab	Phase 3	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Dec 12, 2026 · PCD + 6 wks (Dec 1-Dec 26)
Jan 12 - Feb 23 in 9 wks	Azercabtagene zapreleucel (azer-cel)	Phase 1	B-cell Mediated Autoimmune Disorders	—
Mar 4 - Apr 15 in 16 wks	Ublituximab	Phase 3	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Mar 4, 2027 · PCD + 6 wks (Feb 18-Mar 18)
Sep 11 - Oct 23 in 10 mo	Ublituximab	Phase 2	Multiple Sclerosis	—
Aug 12 - Sep 23 in 21 mo	Ublituximab	Phase 2	Myasthenia Gravis	—
Jan 23 - Mar 6 in 27 mo	Ublituximab	Phase 2	Schizophrenia	—
Feb 12 - Mar 26 in 40 mo	Ublituximab	Phase 2/3	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)
Jul 12 - Aug 23 in 69 mo	Ublituximab	Phase 3	Relapsing Multiple Sclerosis (RMS)	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

BRIUMVI

Approved · Active Modality: anti-CD20 monoclonal antibody

Aliases ublituximab-xiiy, ublituximab

Target CD20

Partnerships LFB Group (exclusive worldwide license, ex-France/Belgium); Neuraxpharm (ex-US commercialization)

Indications

relapsing forms of multiple sclerosis (RMS) (Approved)
relapsing forms of multiple sclerosis (subcutaneous formulation) (Phase 3)

Status note IV formulation approved; subcutaneous formulation in Phase 3 pivotal program (enrollment commenced September 2025); one row per candidate, not per formulation.

Azer-cel

Phase 1 · Active Modality: allogeneic CD19-directed CAR T cell therapy

Target CD19

Partnerships Precision BioSciences (global exclusive license for autoimmune/non-oncology); MaxCyte (platform)

Indications

autoimmune diseases (Phase 1)
progressive multiple sclerosis (Phase 1)

Status note IND cleared August 2024; first progressive MS patient dosed August 2025.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Ublituximab
Lead indication	Relapsing Multiple Sclerosis
Lead phase	Phase 3
Active trials	12

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07211633	Phase 3	Active, not recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Dec 12, 2026 · PCD + 6 wks (Dec 1-Dec 26)
NCT05877963	Phase 3	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Mar 4, 2027 · PCD + 6 wks (Feb 18-Mar 18)
NCT04130997	Phase 3	Active, not recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis (RMS)	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)
NCT07220252	Phase 2/3	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)
NCT07503873	Phase 2	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Multiple Sclerosis	—
NCT07673744	Phase 2	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Myasthenia Gravis	—
NCT07680946	Phase 2	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Schizophrenia	—
NCT06680037	Phase 1	Recruiting	Sponsor	TG Therapeutics, Inc.	—	B-cell Mediated Autoimmune Disorders	—
NCT06143514	Not disclosed	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis	year-end 2026 or early 2027 Est. Dec 12, 2026 · PCD + 6 wks (Dec 1-Dec 26)
NCT06433752	Not disclosed	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Relapsing Multiple Sclerosis; Multiple Sclerosis	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)
NCT06433765	Not disclosed	Recruiting	Sponsor	TG Therapeutics, Inc.	—	Multiple Sclerosis	year-end 2026 or early 2027 Est. Apr 30, 2027 · PCD + 6 wks (Apr 30-Apr 30)
NCT07577583	Not disclosed	Not yet recruiting	Sponsor	TG Therapeutics, Inc.	—	B-cell Mediated Autoimmune Disorders	—

Sponsor-matched active trials from ClinicalTrials.gov (12 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 12 active trials for TG Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Braidwell LP	0	-358,800	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

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TGTX — TG Therapeutics Inc. ☆