TG Therapeutics' Mixed Q2
TG Therapeutics Reports Strong Q2 Revenue and Raises Outlook; EPS Misses Estimates, Shares Fall
Anonymous
Key Points
1
U.S. BRIUMVI net product revenue in Q2 was about $228 million, up 17% sequentially and more than 64% year over year, with total net product revenue of $236 million including contributions from the ex-U.S. partner.
2
TG guided to exit 2026 with quarterly U.S. net revenue above $250 million, targeting roughly a $1 billion annualized U.S. BRIUMVI revenue run rate by year-end.
3
The company has begun a broader direct-to-consumer campaign, expanding channels to digital, linear TV, connected TV and social media after early positive indicators from the initial campaign.
4
Earnings-per-share came in at $0.05, well below street estimates of about $0.31, contributing to a roughly 5% drop in TG Therapeutics' stock on the news.
5
Net income for the quarter was about $7.8 million ($0.05 per share), down from $28.2 million ($0.17 per share) in the prior-year quarter, underscoring continued heavy R&D investment.
TG Therapeutics posted $240.3 million in total global revenue for Q2 2026, driven by $227.7 million in U.S. sales of its multiple sclerosis drug BRIUMVI — a 64% jump from the same quarter last year, according to TradingView. The company then raised its full-year 2026 revenue target to roughly $950 million, putting it on track for what the CEO called a "$1 billion U.S. drug."
But the strong top line came with a sting. Earnings per share landed at just $0.05, far below the $0.31 street estimate, according to Quiver Quant. Shares fell about 5% on the news, as investors weighed a massive revenue beat against a much wider-than-expected profit miss.
BRIUMVI Sales Surge 64% as Prescribers Pile In
U.S. BRIUMVI net product revenue hit $227.7 million in Q2, up 17% from Q1 and more than 64% from a year ago, according to Investing.com. Total net product revenue, including contributions from the company's ex-U.S. partner, reached $235.8 million. New patient starts came in above expectations, and the number of doctors writing BRIUMVI prescriptions kept growing.
TG Therapeutics now expects to exit 2026 with quarterly U.S. revenue above $250 million. That would put the annualized U.S. run rate above $1 billion. Full-year U.S. BRIUMVI guidance sits at $890 million to $905 million, with total global revenue targeted at roughly $950 million, per Yahoo Finance.
EPS Miss Triggers Stock Drop Despite Raised Guidance
Net income for the quarter was only $7.8 million, or $0.05 per share, according to Quiver Quant. That is a sharp fall from $28.2 million, or $0.17 per share, in the same quarter last year. The street had expected $0.31 per share. The gap reflects heavy spending on research and development as the company pushes to build out its drug pipeline.
Shares dropped roughly 5% after the results came out, per TradingView. The headline called it "Retail Shrugs Off EPS Miss" — but the stock move showed real concern. Strong revenue growth and raised guidance were not enough to offset the profit shortfall in the eyes of many investors.
Subcutaneous BRIUMVI and New Ad Push Set Up 2027
TG Therapeutics is developing a subcutaneous version of BRIUMVI — a shot under the skin rather than an IV infusion. The company expects top-line data from its Phase 3 ENHANCE trial by the end of 2026 or early 2027, according to Watchlist News. A successful result could open a much larger patient pool by making the drug easier to give and to get.
The company is also ramping up its push to reach patients directly. It expanded its ad campaign to digital platforms, linear TV, connected TV, and social media after early results looked promising. The goal is to get more patients asking their doctors about BRIUMVI by name, speeding up new starts and growing the franchise faster.
$612 Million Cash Cushion Funds the Long Game
TG Therapeutics ended Q2 with about $612 million in cash and equivalents, according to Yahoo Finance. That is a strong buffer. It gives the company room to keep spending on R&D and its direct-to-consumer campaign without needing to raise more money in the near term.
The balance sheet strength matters because profits are still thin. The company is choosing growth over near-term earnings — betting that landing a $1 billion U.S. drug, and eventually a subcutaneous version, will pay off. For now, revenue is racing ahead even as the bottom line lags behind expectations.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
13
Articles
24
Reach
37
A
AnonymousAuthor