TG Therapeutics Raises Outlook as BRIUMVI Sales Climb
The company lifted its 2026 global revenue target to approximately $950 million.
TG Therapeutics (TGTX), a biopharmaceutical company focused on B-cell diseases, reported a 70% increase in second-quarter revenue to $240.3 million as sales of its multiple-sclerosis treatment BRIUMVI grew.
The revenue gain came alongside heavier investment in new formulations, clinical trials and commercialization. Operating income fell 38% to $21.7 million, and operating margin contracted to about 9.0% from 24.7% a year earlier.
Net product revenue increased 70% to $235.8 million. U.S. net product revenue from BRIUMVI rose approximately 64% to $227.7 million, accounting for most of the quarter's growth. License, milestone, royalty and other revenue nearly doubled to $4.5 million, driven predominantly by $3.6 million of Neuraxpharm royalties.
Gross margin narrowed to approximately 82.9% from 86.6% as cost of revenue more than doubled to $41.2 million. Research-and-development expense tripled to $95.3 million, including $54.6 million tied to manufacturing subcutaneous BRIUMVI and adding a secondary manufacturer. Selling, general and administrative expense rose 48% to $82.1 million on higher marketing, media and commercialization-related personnel spending.
Net income declined 72% to $7.8 million, or $0.05 a diluted share, from $28.2 million, or $0.17 a share, a year earlier. Interest expense increased to $16.6 million from $6.7 million, contributing to a decline in pretax income to $10.2 million.
TG Therapeutics now targets approximately $950 million in full-year global revenue and $890 million to $905 million in U.S. BRIUMVI net product revenue. The company expects to exit 2026 at an annualized U.S. BRIUMVI revenue run rate of approximately $1 billion.
A single 600-milligram first-day BRIUMVI infusion produced bioequivalent exposure to the approved two-infusion starting regimen, potentially eliminating the second infusion. A fully enrolled Phase 3 trial of quarterly subcutaneous dosing is expected to produce topline data around year-end 2026 or early 2027, as TG Therapeutics extends BRIUMVI testing into myasthenia gravis and treatment-resistant schizophrenia.