The strong revenue beat and guidance raise signal accelerating BRIUMVI adoption and commercial momentum, but the EPS miss due to heavy investment in subcutaneous manufacturing and pipeline may cause near-term volatility. Monitor the conference call for details on manufacturing cost trajectory, the timeline for subcutaneous BRIUMVI approval (data year-end 2026/early 2027), and whether R&D spending will moderate. The raised guidance supports a positive long-term outlook, but the earnings miss could pressure the stock in the short term.
Price Chart
Executive Summary
TG Therapeutics reported Q2 2026 total global revenue of $240.3M (up 70% YoY, beating consensus of $229.8M) and raised full-year 2026 revenue guidance to ~$950M, driven by strong BRIUMVI sales ($227.7M, +64% YoY). However, GAAP diluted EPS of $0.05 missed consensus of $0.44 by 88.6% due to $54.6M in subcutaneous manufacturing and pipeline investment costs, creating a mixed signal of accelerating top-line growth versus near-term earnings pressure.
Key Financial Metrics
Key Facts
- Q2 2026 total global revenue $240.3M, up 70% YoY from $141.1M
- BRIUMVI U.S. net revenue $227.7M, up 64% YoY
- GAAP diluted EPS $0.05 vs consensus $0.44 (miss of 88.6%)
- Raised FY2026 total global revenue target to ~$950M (from ~$925M)
- Raised FY2026 BRIUMVI U.S. net revenue target to $890-905M
- Net income $7.8M vs $28.2M in Q2 2025, decline due to $54.6M in subcutaneous manufacturing costs
- Cash, cash equivalents and investment securities $612.3M as of June 30, 2026
- Positive Phase 3 ENHANCE data for simplified single-infusion initiation regimen
- Initiated Phase 2 trials in myasthenia gravis and treatment-resistant schizophrenia
Financial Impact
Revenue beat consensus by ~$10.5M (4.6%); EPS missed by $0.39 (88.6%); full-year revenue guidance raised by ~$25M
Risk Factors
- EPS miss may lead to short-term selling pressure despite revenue beat
- Heavy R&D spending ($95.3M in Q2) may continue to weigh on profitability
- Execution risk on subcutaneous BRIUMVI and pipeline trials (MG, schizophrenia, azer-cel)
- Potential for further dilution if additional capital is needed for manufacturing scale-up
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-025304 |
| Document: tgtx20260730_8k.htm | 0001437749-26-025304 |
| Document: 0001437749-26-025304-index-headers.html | 0001437749-26-025304 |
| Document: 0001437749-26-025304-index.html | 0001437749-26-025304 |
| Document: 0001437749-26-025304.txt | 0001437749-26-025304 |
| 8-K Data (Synthetic) | 0001437749-26-025304 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 3, 2026 12w ago | 8-K | $46.17 | awaiting T+60 | — | $54.79 (+18.67%) |
Jun 11, 2026 19w ago | Institutional Cluster | $49.52 $55.74 | ▲ +12.56% | ▲ +9.30% | $54.79 (+10.64%) |
Jun 3, 2026 20w ago | 8-K | $40.11 $55.72 | ▲ +38.92% | ▲ +36.42% | $54.79 (+36.60%) |
Jun 3, 2026 20w ago | Press Release | $40.11 $55.72 | ▲ +38.92% | ▲ +36.42% | $54.79 (+36.60%) |
Jun 1, 2026 21w ago | Press Release | $37.41 $55.42 | ▲ +48.14% | ▲ +46.91% | $54.79 (+46.46%) |
May 27, 2026 21w ago | 8-K | $38.82 $54.27 | ▲ +39.80% | ▲ +38.06% | $54.79 (+41.14%) |
May 6, 2026 24w ago | 8-K | $41.97 $52.03 | ▲ +23.97% | ▲ +21.91% | $54.79 (+30.55%) |
Apr 30, 2026 25w ago | Press Release | $33.78 $55.75 | ▲ +65.04% | ▲ +61.93% | $54.79 (+62.20%) |
Apr 22, 2026 26w ago | Press Release | $38.31 $54.87 | ▲ +43.23% | ▲ +38.45% | $54.79 (+43.02%) |
Apr 15, 2026 27w ago | Press Release | $34.60 $57.12 | ▲ +65.09% | ▲ +56.95% | $54.79 (+58.35%) |
US Market Status
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