TG Therapeutics, Inc. (TGTX): History, Ownership, Mission, How It Works & Makes Money

How does a biopharmaceutical company like TG Therapeutics, Inc. (TGTX) pivot from a development-stage firm to a commercial powerhouse, targeting a 2025 global revenue of approximately $600 million? The answer lies in the explosive adoption of its flagship therapy, BRIUMVI, which is quickly establishing itself as a leading anti-CD20 treatment for Relapsing Multiple Sclerosis (RMS).

You need to understand the mechanics of this growth, especially since the company raised its full-year U.S. net revenue guidance for BRIUMVI to roughly $585 million in November 2025, a defintely impressive feat that reflects its mission to transform care for B-cell diseases.

This deep dive will map the company's history, its ownership structure-where major players like BlackRock, Inc. hold significant stakes-and the core business model that turned a single drug into a multi-hundred-million-dollar revenue engine, a story that earned them the number 27 spot on the 2025 Deloitte Technology Fast 500™ list.

TG Therapeutics, Inc. (TGTX) History

You need to understand the history of TG Therapeutics, Inc. to gauge its current risk profile and future trajectory. The company's journey, starting in 1993, is a classic biotech story of long-term development, a major setback, and a powerful comeback, now anchored by the success of BRIUMVI (ublituximab-xiiy). As of November 2025, the company has transformed into a commercial-stage entity with a full-year global revenue target of approximately $600 million, a significant leap from its earlier development-stage status.

Given Company's Founding Timeline

Year established

TG Therapeutics, Inc. was founded on May 18, 1993.

Original location

The company was originally headquartered in New York City, New York, before establishing a later presence in Morrisville, North Carolina.

Founding team members

The company was founded by Michael Sean Weiss and Laurence H. Shaw. Michael S. Weiss has been a central figure, serving as Chairman, President, and CEO since December 2011.

Initial capital/funding

The initial financing included a $25 million Series A funding round. The company also raised an additional $25 million in Post-IPO capital in February 2012.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory is defintely defined by a few high-stakes moments that either forced a strategic change or unlocked massive commercial potential. The biggest moment was the one-two punch of a major drug approval followed by its withdrawal.

• The UKONIQ Setback (2022): The voluntary withdrawal of Umbralisib (UKONIQ) from the market in June 2022, just over a year after its accelerated approval, was a critical test. This move, driven by a higher reported death rate in a clinical trial, forced the company to consolidate its resources and bet everything on the success of its other late-stage asset, ublituximab.
• The BRIUMVI Launch (2022-2025): The subsequent FDA approval of BRIUMVI (ublituximab-xiiy) in December 2022 for multiple sclerosis was the ultimate lifeline. The drug's rapid uptake and strong performance turned the company around, moving it from a development-stage firm facing a crisis to a profitable commercial entity. This success is evident in the net income of $424.1 million for the first nine months of 2025.
• The Financial Pivot in 2025: The strong financial results reported throughout 2025, including a Q1 2025 U.S. net product revenue of $119.7 million, signal a complete transformation of the business model from R&D expense to commercial revenue generation. This is a huge shift.

The core of the strategy now is maximizing BRIUMVI's market share and advancing its next-generation formulations, like the subcutaneous version, while continuing to expand globally with partners like Neuraxpharm. You can read more about their long-term goals here: Mission Statement, Vision, & Core Values of TG Therapeutics, Inc. (TGTX).

TG Therapeutics, Inc. (TGTX) Ownership Structure

TG Therapeutics, Inc. is controlled primarily by institutional investors, which hold a substantial majority stake, aligning the company's strategic direction with large fund interests. This structure means decisions are heavily influenced by a mix of long-term mutual funds and active hedge funds, though the leadership team maintains a significant insider position.

TG Therapeutics, Inc.'s Current Status

TG Therapeutics, Inc. is a publicly traded biopharmaceutical company, listed on the NASDAQ Stock Market under the ticker symbol TGTX. As of mid-November 2025, the company commanded a market capitalization of approximately $4.88 billion. This public status subjects the company to rigorous reporting and governance standards, but it also provides the capital needed to fund its B-cell disease pipeline and commercialization efforts for its approved drug, BRIUMVI. The company's revenue for the third quarter of 2025 was $161.71 million, beating consensus estimates. You can dive deeper into the major stakeholders by Exploring TG Therapeutics, Inc. (TGTX) Investor Profile: Who's Buying and Why?

TG Therapeutics, Inc.'s Ownership Breakdown

The ownership structure is typical for a commercial-stage biotech firm, dominated by institutional money. This high institutional ownership, at over 65%, suggests a strong belief in the long-term growth story, particularly following the commercial launch of BRIUMVI. The insider stake is also notable, showing leadership's skin in the game. Honestly, high insider ownership is defintely a good sign for shareholder alignment.

TG Therapeutics, Inc.'s Leadership

The company is steered by a seasoned management team, with key executives having long tenures, providing stability and deep institutional knowledge. The average tenure for the management team is over 13 years, which is rare in the biotech space.

• Michael S. Weiss, J.D.: Chairman, President, and Chief Executive Officer (CEO). He has led the company since its founding in December 2011, and directly owns a significant portion of the insider stake.
• Sean A. Power, CPA: Chief Financial Officer (CFO). He has also been with the company since December 2011, providing financial continuity and expertise.
• Adam Waldman: Chief Commercialization Officer. He joined in 2018 and is responsible for the commercial strategy and execution, which is crucial for the success of BRIUMVI.
• Jenna Bosco: Senior Vice President of Corporate Communications.

This leadership structure, combining a long-tenured CEO who is also the Chairman with a focused commercialization officer, is set up to drive the growth of their key product while maintaining financial discipline.

TG Therapeutics, Inc. (TGTX) Mission and Values

TG Therapeutics, Inc. (TGTX) stands for a singular, patient-driven purpose: to transform the treatment landscape for B-cell malignancies and autoimmune diseases like multiple sclerosis. This commitment is the cultural DNA, guiding every dollar of the projected $575 million in global net revenue for the 2025 fiscal year.

You're looking beyond the stock ticker, and honestly, that's where the true long-term investment conviction comes from. The company's core purpose is defintely not just about commercializing their anti-CD20 monoclonal antibody, BRIUMVI, but about solving a puzzle for patients who are desperately in need.

TG Therapeutics' Core Purpose

The company's core purpose is rooted in a simple, yet ambitious, goal: to leverage scientific advances in B-cell biology to develop novel, multi-drug treatments. This focus is personal for the team, as many have been touched by B-cell diseases, driving a quest for a cure, not just a single drug.

Official mission statement

TG Therapeutics' mission is to transform the treatment of B-cell malignancies and autoimmune diseases by developing and delivering innovative therapies that address significant unmet medical needs.

• Innovation: Creating novel treatments where current therapies are inadequate.
• Patient-Centricity: Prioritizing patient well-being and access to effective treatments.
• Clinical Excellence: Ensuring the highest standards in clinical development and research.

Here's the quick math on their focus: the company is forecasting approximately $560 million in U.S. net revenue in 2025 just from BRIUMVI sales, showing the market impact of their patient-centric approach.

Vision statement

The vision for TG Therapeutics is to become a leader in the development and commercialization of innovative treatments for B-cell malignancies and autoimmune diseases. This means setting new standards of care.

They are not just aiming to compete, but to pioneer. They want to significantly improve the quality of life and survival rates for individuals affected by these diseases, broadening the availability of effective therapies for a wider range of patients. You can see this ambition in their commitment to advancing subcutaneous BRIUMVI and developing azer-cel for progressive multiple sclerosis.

TG Therapeutics slogan/tagline

The company's most visible tagline, which succinctly captures their cultural DNA, is:

• FIERCELY FOCUSED. ON PATIENTS.

This isn't just marketing fluff; it's a commitment to 'big ideas, take bold actions, and are fearless in our pursuit' to develop the best possible treatment solutions. This is the lens through which you should view their pipeline and their strategy, which is detailed further in Exploring TG Therapeutics, Inc. (TGTX) Investor Profile: Who's Buying and Why?

TG Therapeutics, Inc. (TGTX) How It Works

TG Therapeutics, Inc. is a commercial-stage biopharmaceutical company that develops and commercializes novel treatments for B-cell mediated diseases, primarily generating revenue by selling its flagship multiple sclerosis (MS) therapy, BRIUMVI. The company's value creation model is centered on a focused R&D pipeline and a direct commercialization strategy in the U.S. for its approved product.

TG Therapeutics, Inc.'s Product/Service Portfolio

TG Therapeutics, Inc.'s Operational Framework

The company operates as a fully integrated biopharmaceutical firm, managing the entire lifecycle from early-stage research to commercial sales. Its operational framework is built on three core pillars: focused clinical development, a lean commercial engine, and strategic capital management.

• Drug Development: R&D spending reflects a focus on life-cycle management for BRIUMVI, like the ongoing Phase 3 trials for a consolidated Day 1 and Day 15 intravenous (IV) dosing regimen and the subcutaneous formulation. Research and development expenses for the first half of the 2025 fiscal year totaled $78.1 million, primarily funding these initiatives.
• Manufacturing & Supply: Production of the active drug substance for BRIUMVI is outsourced to specialized contract manufacturing organizations (CMOs), a common biotech practice that minimizes capital expenditure. Finished product inventory is strategically maintained to ensure uninterrupted supply for the U.S. and international markets.
• Commercialization: U.S. sales are driven by a dedicated, expanded sales force targeting the approximately 550 centers that account for the majority of the MS market. International commercialization is handled through a strategic partnership with Neuraxpharm, which manages sales in the European Union, United Kingdom, and other approved territories. Total global revenue is projected to be approximately $600 million for the full-year 2025.

The company maintains a strong financial position, with cash, cash equivalents, and investment securities totaling $278.9 million as of June 30, 2025, which is anticipated to fund operations without defintely needing immediate external financing.

To learn more about the company's long-term direction, you can review their Mission Statement, Vision, & Core Values of TG Therapeutics, Inc. (TGTX).

TG Therapeutics, Inc.'s Strategic Advantages

The company's market success hinges on a few clear, competitive differentiators for BRIUMVI in the crowded anti-CD20 therapy space, plus a disciplined financial approach.

• Short Infusion Time: BRIUMVI's approved one-hour infusion duration (after the initial dose) is a major competitive advantage, as it is significantly shorter than rival therapies, offering greater convenience for patients and clinics.
• Pricing Strategy: The drug is positioned with a competitive price, offering a roughly 25% price discount compared to its main anti-CD20 competitor, accelerating its adoption among healthcare providers.
• High Gross Margin: The operational efficiency, likely due to the glycoengineered manufacturing process, results in a robust gross margin of approximately 86.96%, indicating strong pricing power and efficient production.
• Intellectual Property Runway: BRIUMVI is protected by patents extending until 2042, providing a long period of market exclusivity to maximize returns and fund pipeline development.
• Pipeline Optionality: The pipeline, while early-stage, targets significant unmet needs in B-cell disorders beyond RMS, including the potential for a self-administered subcutaneous version and the high-impact allogeneic CAR T cell therapy, Azer-Cel.

TG Therapeutics, Inc. (TGTX) How It Makes Money

TG Therapeutics, Inc. generates nearly all of its revenue by commercializing its flagship drug, BRIUMVI (ublituximab-xiiy), a monoclonal antibody treatment for adults with relapsing forms of multiple sclerosis (RMS). The company operates on the classic biopharmaceutical model: high-cost, patent-protected specialty drugs sold primarily in the United States, supplemented by licensing and ex-U.S. product sales to partners.

TG Therapeutics, Inc.'s Revenue Breakdown

Looking at the Q3 2025 results, it's clear this is a single-product story right now, but what a product. BRIUMVI's U.S. net sales account for the vast majority of the top line, with a small but growing contribution from international partners and pipeline-related revenue. Here's the quick math on the $161.7 million in total revenue for the third quarter of 2025.

Business Economics

The core economic engine is the high-margin specialty pharmaceutical business, which means pricing power and patient persistence are everything. BRIUMVI is a twice-a-year intravenous infusion, which is a key differentiator in a competitive market like multiple sclerosis (MS). The company's gross margin is defintely impressive, sitting around 86.96% as of Q3 2025, which shows phenomenal cost control on the manufacturing side.

• Pricing Power: As a novel, FDA-approved anti-CD20 therapy, BRIUMVI commands a premium price, typical of specialty drugs, which drives the high gross margin.
• Patient Persistence: The twice-yearly dosing schedule encourages patient retention, which is critical since the initial dose is slightly smaller than subsequent maintenance doses. Patient retention at the six-month mark is high, which builds a strong recurring revenue base.
• Market Expansion: The company is strategically focused on developing a subcutaneous (self-administered) formulation of BRIUMVI. This is a crucial move to capture the estimated 35% to 40% of the anti-CD20 market that prefers a self-injection option over an infusion center visit.
• Risk Concentration: The entire financial thesis hinges on the continued success and market share growth of a single product, BRIUMVI.

TG Therapeutics, Inc.'s Financial Performance

TG Therapeutics, Inc. has transitioned from a development-stage biotech to a commercial-stage company, and the 2025 numbers reflect strong commercial momentum. The company has raised its full-year 2025 global revenue guidance to approximately $600 million, with U.S. BRIUMVI net revenue expected to hit about $585 million. That's a massive jump from the prior year. You can get a deeper look at the balance sheet here: Breaking Down TG Therapeutics, Inc. (TGTX) Financial Health: Key Insights for Investors

• Revenue Growth: Total revenue for Q3 2025 was $161.7 million, marking a 93% year-over-year increase, fueled almost entirely by BRIUMVI sales.
• Profitability: The company reported a Q3 2025 net income of $390.9 million. What this estimate hides is that $365.0 million of that was a non-recurring income tax benefit from releasing a deferred tax asset valuation allowance, but still, the underlying business is profitable.
• Cash Position: As of September 30, 2025, cash, cash equivalents, and investment securities stood at $178.3 million. This liquidity is being used for commercialization and R&D, plus they are executing a share repurchase program, which shows management confidence.
• Operating Expenses: Research and development (R&D) and Selling, General, and Administrative (SG&A) expenses are rising, which is expected for a company in a high-growth commercialization and late-stage development phase. R&D for Q2 2025 was about $31.8 million, largely due to the subcutaneous BRIUMVI work.

You need to watch the competitive landscape and the success of the subcutaneous formulation trials; those are the near-term drivers. Finance: Track the Q4 2025 BRIUMVI net revenue against the $585 million full-year guidance to confirm the growth trajectory by early next year.

TG Therapeutics, Inc. (TGTX) Market Position & Future Outlook

TG Therapeutics is positioned as a high-growth disruptor in the multiple sclerosis (MS) market, leveraging its flagship drug, Briumvi, to challenge entrenched anti-CD20 therapies. The company's future outlook is tied directly to Briumvi's commercial success, with a full-year 2025 global revenue target of approximately $600 million, demonstrating aggressive market penetration since its late 2022 U.S. launch.

Competitive Landscape

The core competition for TG Therapeutics is in the anti-CD20 monoclonal antibody class, a high-efficacy segment of the relapsing MS (RMS) market. While TG Therapeutics is rapidly gaining what it calls 'dynamic market share,' the overall market remains dominated by established players.

Opportunities & Challenges

The near-term trajectory for TG Therapeutics hinges on expanding Briumvi's market access and advancing its pipeline to simplify the treatment experience for patients. The company is defintely a one-product story right now, so diversification is key.

Industry Position

TG Therapeutics holds a strong, albeit emerging, position within the high-efficacy disease-modifying therapy (DMT) segment for Relapsing Multiple Sclerosis (RMS). Its primary product, Briumvi, is a glycoengineered anti-CD20 monoclonal antibody (mAb), a class that has become the standard of care for high-activity MS.

• Anti-CD20 Class Standing: Briumvi is the newest entrant, competing directly with market-leading Ocrevus and the self-injectable Kesimpta. Its 30-minute infusion time is a key differentiator, offering a significant convenience advantage over Ocrevus's initial longer infusion times.
• Financial Strength: The company is demonstrating strong commercial execution, raising its full-year 2025 U.S. Briumvi net revenue guidance to approximately $585 million. This momentum is supported by a robust gross margin of 86.96%, indicating efficient production and strong pricing power.
• Strategic Capital Use: Management completed a $100 million share repurchase program and authorized an additional $100 million buyback, underscoring confidence in future cash flows and long-term value. This financial discipline is important.
• Long-Term Efficacy: New six-year data from the ULTIMATE trials presented in September 2025 showed that 89.9% of patients remained free from disability progression, supporting the drug's long-term safety and effectiveness.

For a deeper dive into the company's foundational principles, you can review its Mission Statement, Vision, & Core Values of TG Therapeutics, Inc. (TGTX).