TG Therapeutics

TGTX

Biotechnology · Healthcare

Price

$54.27

+3.71 (+7.34%)

Market Cap

$8.31B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Weak

Stability

Mixed

Valuation

Strong

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Share count rising — dilution

+22.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 132.2M (2021) → 161.4M (2025)

Winston Score History

The full picture

TG Therapeutics is a biotechnology company that develops and sells medicines for people with certain blood cancers and autoimmune diseases. Its main approved product is Briumvi (ublituximab), a drug used to treat relapsing forms of multiple sclerosis, which is a disease where the immune system attacks the brain and spinal cord. The company focuses on a specific type of immune cell called B-cells, which play a role in both blood cancers and autoimmune conditions.

TG Therapeutics makes money by selling Briumvi directly to healthcare providers and specialty pharmacies in the United States, with some international partnerships helping expand its reach. The company is relatively small but profitable, with an 83% gross margin reflecting the high value of branded specialty drugs. Its main competitive challenge is standing out in a crowded multiple sclerosis market against established treatments from much larger pharmaceutical companies, and its growth depends heavily on continued adoption of Briumvi by neurologists.

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3 trades / 12mo

1 Congressional buy and 2 sells on TGTX in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+70.3% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-71.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$160M/ year

↑ Rising (+70% vs prior year)

26.0% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

11.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$617M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

TG Therapeutics is growing revenue at 70% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

82.9%

Premium pricing power — 82.9% gross margin

Profit after running costs

Operating Margin

9.0%

Modest — 9.0% operating margin

Return on the money invested

ROCE

10.1%

Below par — 10.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+76.1%

Fast-growing sales (+76.1% YoY)

Profit growth

EPS YoY

+634.6%

Earnings growing fast (+634.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

-0%

Weak — only -0% of profit becomes cash

Spare cash per sale

FCF Margin

-0.1%

Burning cash (-0.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.23

Elevated debt (1.23)

Covers its interest

Interest Cover

3.64x

Tight — interest eats into profit (3.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

17.8x

Fair value — P/E 17.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+3.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.8 → 14.1)

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Dividends

Not applicable for this business.

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