Mission Statement, Vision, & Core Values (2024) of TG Therapeutics, Inc. (TGTX)

An Overview of TG Therapeutics, Inc. (TGTX)

General Summary of TG Therapeutics, Inc. (TGTX)

Founded in 2012, TG Therapeutics, Inc. (TGTX) is a biopharmaceutical company focused on developing and commercializing innovative therapies for patients with B-cell diseases. The company is primarily known for its lead product, BRIUMVI (ublituximab), which received FDA approval in late 2022 and was launched in January 2023. As of 2024, BRIUMVI is the only marketed product of TG Therapeutics, targeting conditions like multiple sclerosis.

As of September 30, 2024, TG Therapeutics reported product revenue, net of approximately $206.4 million for the nine-month period ended September 30, 2024, compared to $48.9 million for the same period in the previous year. This growth reflects the successful commercialization of BRIUMVI in the United States.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial reporting period, TG Therapeutics showcased significant growth in revenue driven by BRIUMVI sales. The following table summarizes the financial performance for the nine months ended September 30, 2024, compared to the same period in 2023:

BRIUMVI's sales have significantly impacted the revenue trajectory, with the company generating $206.4 million solely from this product during the nine months ended September 30, 2024. The license, milestone, royalty, and other revenue decreased sharply in 2024 due to a lack of large upfront payments seen in 2023, which included a $140 million non-refundable upfront payment from the Neuraxpharm Commercialization Agreement. The cost of revenue also rose to $23.1 million, reflecting increased production and distribution expenses as sales volumes grew.

Introduction to Company as a Leader in the Industry

TG Therapeutics is recognized as a leading company in the biopharmaceutical industry, particularly in the field of B-cell targeted therapies. The FDA approval of BRIUMVI marks a significant milestone, positioning the company competitively against other therapies for multiple sclerosis. The company's strategic partnerships, such as the commercialization agreement with Neuraxpharm for ex-U.S. markets, further enhance its market presence. As of September 30, 2024, TG Therapeutics holds approximately $341 million in cash and cash equivalents, providing a solid financial foundation to support ongoing commercialization efforts and potential future product developments.

Investors and stakeholders are encouraged to explore the factors contributing to TG Therapeutics' success in this competitive landscape, particularly its innovative approach to addressing unmet medical needs in B-cell disorders.

Mission Statement of TG Therapeutics, Inc. (TGTX)

Mission Statement Overview

TG Therapeutics, Inc. (TGTX) is dedicated to transforming the lives of patients with cancer and autoimmune diseases through innovative therapies. The company's mission statement emphasizes its commitment to developing and delivering high-quality biopharmaceutical products that significantly improve patient outcomes.

Core Component 1: Innovation

Innovation is at the heart of TG Therapeutics’ mission. The company focuses on creating cutting-edge therapies that address unmet medical needs. For instance, TGTX's lead product, BRIUMVI (ublituximab), received FDA approval in January 2023, marking a significant advancement in the treatment of certain autoimmune diseases. The commercial sales of BRIUMVI have generated approximately $206.4 million in product revenue for the nine months ended September 30, 2024, compared to $48.9 million in the same period of the previous year.

Core Component 2: Patient-Centric Approach

Another vital aspect of TG Therapeutics' mission is its patient-centric approach. The company prioritizes the needs and experiences of patients in the development of its therapies. For example, the success of BRIUMVI in clinical settings demonstrates the effectiveness of TGTX's commitment to enhancing patient care. In the nine months ended September 30, 2024, the company reported a net income of $52,000, showcasing its ability to generate revenue while focusing on patient outcomes.

Core Component 3: Commitment to Quality

TG Therapeutics is committed to maintaining high standards of quality in all its products and services. This commitment is evident in the rigorous processes involved in the development and manufacturing of BRIUMVI. The cost of revenue associated with BRIUMVI was approximately $23.1 million for the nine months ended September 30, 2024, reflecting the investment in quality assurance and compliance. Furthermore, the company anticipates that as it continues to commercialize BRIUMVI, these costs will rise in tandem with product revenues, emphasizing their dedication to quality and safety.

These figures highlight TG Therapeutics' growth trajectory as it continues to expand its market presence while adhering to its mission of innovation, patient-centric care, and uncompromising quality standards.

Vision Statement of TG Therapeutics, Inc. (TGTX)

Vision Statement of TG Therapeutics, Inc. (TGTX)

The vision statement of TG Therapeutics, Inc. (TGTX) reflects its commitment to becoming a leader in the biopharmaceutical industry by focusing on innovative treatments for B-cell diseases. The company's vision encompasses various strategic components aimed at enhancing patient care and advancing scientific research.

TG Therapeutics emphasizes its dedication to innovation in drug development, particularly for B-cell malignancies and autoimmune diseases. The company aims to leverage cutting-edge research to develop novel therapies that address unmet medical needs. In 2024, TG Therapeutics has focused on its flagship product, BRIUMVI (ublituximab-xiiy), which received FDA approval in January 2023 and is currently the only marketed product. As of September 30, 2024, BRIUMVI generated approximately $206.4 million in product revenue for the nine months ended, compared to $48.9 million during the same period in 2023.

The company’s vision underscores a patient-centric approach, aiming to improve the quality of life for patients suffering from B-cell related diseases. TG Therapeutics is committed to ensuring that its therapies are accessible and effective. In 2024, the company is expanding its reach internationally, with BRIUMVI launched in the EU and approved by the MHRA in the UK, further emphasizing its commitment to global patient access.

Strategic collaborations are a key component of TG Therapeutics' vision. In 2024, the company has engaged in significant partnerships, including a commercialization agreement with Neuraxpharm, which has led to milestone payments and revenue generation from the launch of BRIUMVI in key markets. For the nine months ended September 30, 2024, TG Therapeutics recognized $14.4 million in license, milestone, and royalty revenue.

The vision of TG Therapeutics also includes achieving financial sustainability through robust growth strategies. As of September 30, 2024, the company reported total revenue of $220.8 million, a significant increase from $189.7 million in the same period of 2023. The company’s operating expenses, including costs related to research and development, totaled approximately $208.8 million for the nine months ended September 30, 2024.

Investing in research and development is central to TG Therapeutics' vision. The company reported research and development expenses of approximately $70.4 million for the nine months ended September 30, 2024, up from $58.7 million in the prior year, reflecting its commitment to advancing its pipeline of investigational therapies.

In summary, TG Therapeutics, Inc.'s vision statement for 2024 is oriented toward innovation, patient-centric care, strategic partnerships, financial growth, and a strong commitment to research and development, all aimed at transforming the landscape of treatment for B-cell diseases.

Core Values of TG Therapeutics, Inc. (TGTX)

Integrity

Integrity is a core value at TG Therapeutics, Inc. (TGTX), emphasizing the importance of ethical behavior, transparency, and accountability in all actions and decisions.

In 2024, TG Therapeutics demonstrated its commitment to integrity through rigorous compliance programs and transparent communication with stakeholders. The company adheres to stringent regulatory requirements, ensuring that all clinical trials and product developments are conducted ethically. For instance, the successful FDA approval of BRIUMVI (ublituximab-xiiy) on December 28, 2022, was a testament to its integrity in clinical practices, showcasing the company’s dedication to patient safety and regulatory compliance.

Innovation

Innovation drives TG Therapeutics' mission to develop novel therapies for B-cell diseases. The company invests heavily in research and development to bring groundbreaking treatments to market.

In the first nine months of 2024, TGTX invested approximately $70.4 million in research and development, reflecting its commitment to innovation. This includes efforts related to the Precision License Agreement, which enhances its pipeline with cutting-edge CAR T therapies. The company also reported $206.4 million in product revenue from BRIUMVI, underscoring the financial success of its innovative strategies.

Collaboration

Collaboration is fundamental to TG Therapeutics’ approach, fostering partnerships that enhance its capabilities and reach. The company actively engages with academic institutions, healthcare providers, and industry partners.

In July 2023, TG Therapeutics entered a significant Commercialization Agreement with Neuraxpharm, receiving an upfront payment of $140 million. This collaboration allows TGTX to leverage Neuraxpharm’s expertise in marketing BRIUMVI outside the U.S., illustrating the company’s strategy to expand its global footprint through effective partnerships.

Excellence

Excellence is a guiding principle at TG Therapeutics, driving the company to achieve the highest standards in product quality and operational efficiency.

The company's commitment to excellence is reflected in its financial performance, with total revenue of $220.8 million for the nine months ended September 30, 2024, compared to $189.7 million in the same period the previous year. This growth is attributed to the effective commercialization of BRIUMVI and operational efficiencies that enhance profitability.

Accountability

Accountability is a core value that ensures TG Therapeutics takes responsibility for its actions and decisions, fostering trust among stakeholders.

In 2024, TGTX has maintained transparency in its financial reporting, with a net income of $3.9 million for the three months ended September 30, 2024. The company has communicated its financial health effectively, with detailed disclosures regarding revenue sources and expenses, reinforcing its accountability to investors and regulators.

Updated on 16 Nov 2024

Resources:

1. TG Therapeutics, Inc. (TGTX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of TG Therapeutics, Inc. (TGTX)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View TG Therapeutics, Inc. (TGTX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.