TacticScaleWhat TG Therapeutics Does & How It Makes Money (TGTX)
Updated October 2026 · reflects TG Therapeutics's latest reported financials
Commercial-stage biotech developing treatments for B-cell mediated diseases like MS. The company makes money mainly by selling its approved MS drug BRIUMVI.
How TG Therapeutics makes money
The company makes money mainly by selling its approved MS drug BRIUMVI. It also licenses in drug candidates from partners and develops them toward commercialization in the US and internationally.
What TG Therapeutics does
TG Therapeutics is a commercial-stage biopharmaceutical company based in Morrisville, North Carolina, that acquires, develops and commercializes treatments for B-cell mediated diseases. Its lead marketed product, BRIUMVI, is an anti-CD20 monoclonal antibody approved for adults with relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease. Its pipeline includes Ublituximab IV, a glycoengineered anti-CD20 antibody for relapsing MS; TG-1701, an oral covalent BTK inhibitor; and TG-1801, a bispecific CD47 and CD19 antibody, along with earlier research programs. The company relies partly on licensed assets, with agreements with LFB Biotechnologies, GTC Biotherapeutics, LFB/GTC LLC, Ildong Pharmaceutical and Jiangsu Hengrui Medicine. It was incorporated in 1993.
Products & services
- BRIUMVI
- Ublituximab IV
- TG-1701 (BTK inhibitor)
- TG-1801 (CD47/CD19 bispecific antibody)
What is TG Therapeutics worth?
On an owner-earnings DCF, TG Therapeutics's most-likely value is about $36 versus a recent price near $55 (35% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$6) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
Biogen (BIIB) · Bio-Thera Solutions (688177.SS) · BriaCell Therapeutics (BCTXW) · Vir Biotechnology (VIR) · Bristol-Myers Squibb (BMY)