TGTX Q2 Earnings Lag, Sales Rise Y/Y, 2026 View Raised, Stock Down

Briumvi, an anti-CD20 monoclonal antibody, was approved by the FDA for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS) in December 2022. The drug is also approved in the European Union, the United Kingdom, Australia, Switzerland and certain other countries.

Shares of TG Therapeutics were down in pre-market trading on Aug. 3 following the announcement of the news.

The stock has rallied 74.6% in the year-to-date period compared with the industry’s rise of 2.8%.

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TGTX's Q2 Earnings in Detail

The top line comprised product sales from Briumvi and license, royalty and other revenues.

Total product revenues were $235.8 million in the reported quarter, reflecting a 69.9% year-over-year increase. Total product revenues included sales of Briumvi to TGTX’s licensing partner, in ex-U.S. markets, Neuraxpharm, of $8.1 million.

TG Therapeutics has an agreement with Neuraxpharm Pharmaceuticals for the ex-U.S. commercialization of Briumvi, wherein the company is entitled to receive payments upon the achievement of certain commercial milestones and targets.

Briumvi's net product sales in the United States were $227.7 million in the second quarter, up 64% year over year. Sales of the drug came in ahead of management’s guided range of $220 million.

License, milestone, royalty and other revenues were $4.5 million in the second quarter, compared with $2.3 million reported in the year-ago quarter.

Research and development (R&D) expenses (excluding stock-based compensation) jumped 217.5% year over year to $87.3 million due to higher expenses related to ongoing clinical studies.

Selling, general and administrative (SG&A) expenses (excluding stock-based compensation) totaled $62.3 million, up 43.2% from the year-ago quarter’s level, due to higher commercialization costs for Briumvi as well as other personnel costs.

As of June 30, 2026, TG Therapeutics had cash, cash equivalents and investments worth $612.3 million compared with $572.8 million as of March 31, 2026.

TGTX’s 2026 Guidance

TG Therapeutics raised its total revenue guidance.

The company now expects worldwide total revenues of around $950 million in 2026, compared with the previous expectation of around $925 million.

The company now expects net product revenues of $890-$905 million from Briumvi sales in the United States in 2026, up from the previous expectation of $885-$900 million.

Excluding non-cash compensation, total operating expenses, defined as R&D and SG&A, are now expected to be around $350-$400 million in 2026, compared with the previous expectation of around $350 million.

TGTX’s Recent Pipeline Updates

Several additional studies on Briumvi targeting other autoimmune diseases are currently ongoing.

Last month, the company initiated a phase II study evaluating Briumvi for the treatment of adult patients with treatment-resistant schizophrenia. Per management, the study is expected to help determine whether B-cell depletion with Briumvi can improve symptoms in adult patients with treatment-resistant schizophrenia.

The company recently initiated a phase II study to evaluate the efficacy and safety of Briumvi in maintaining clinical response in patients with myasthenia gravis who initially respond to treatment with the FcRn inhibitor, Vyvgart (efgartigimod).

TG Therapeutics is developing a self-administered subcutaneous formulation of Briumvi for treating RMS in a pivotal phase III study. Top-line data from this study are expected to be announced by the end of 2026 or the first quarter of 2027.

If successfully developed, the Briumvi SC formulation may eventually be available as a quick injection rather than a lengthy IV infusion, which could make treatment more convenient for patients.

In May 2026, TG Therapeutics announced that the phase III ENHANCE study, which evaluated a consolidated single-infusion regimen of its sole marketed drug, Briumvi, in adult patients with relapsing forms of multiple sclerosis, has met its primary endpoint.

TG Therapeutics is also developing azer-cel, an allogeneic CD19-directed CAR T cell therapy, in a phase I study for treating patients with primary progressive multiple sclerosis. Preliminary data from this study is expected to be presented in the second half of 2026.

TGTX's Zacks Rank & Stocks to Consider

TG Therapeutics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Repligen RGEN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.30, while estimates for 2027 have increased from $3.64 to $3.87 during the same time. HRMY shares have lost 5.9% year to date.

Harmony Biosciences’ earnings missed estimates in each of the trailing four quarters, with the average negative surprise being 25.16%.

Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 13.9% year to date.

Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 143.9% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.

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This article originally published on Zacks Investment Research (zacks.com).

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