TG THERAPEUTICS Reports Second Quarter Earnings Results for FY2023
August 13, 2023
🌥️Earnings Overview
On August 1 2023, TG ($NASDAQ:TGTX) Therapeutics reported their earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter was USD 16.1 million, a staggering increase from last year’s 0.6 million. Net income, however, saw a decrease of -40.5 million, resulting in a total of -47.6 million.
Price History
The company saw a significant plunge in its stock price, opening the day at $11.9 and closing at $10.5, a decrease of 49.3% from its previous closing price of 20.7. This was an unexpected drop in the value of TG THERAPEUTICS‘ stock and has investors concerned. The company is focused on the development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Despite this impressive portfolio, the second quarter earnings results were not as strong as anticipated.
It is yet to be seen how this earnings report will affect the future of TG THERAPEUTICS and its product candidates. Investors will be watching closely to see how the company’s stock price and potential new treatments are affected by this news. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tg Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 24.05 | -175.65 | -730.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tg Therapeutics. More…
| Operations | Investing | Financing |
| -167.38 | -20.01 | -0.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tg Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 220.85 | 180.4 | 0.18 |
Key Ratios Snapshot
Some of the financial key ratios for Tg Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 440.9% | – | -684.6% |
| FCF Margin | ROE | ROA |
| -696.0% | -375.2% | -46.6% |
Analysis
GoodWhale has conducted an analysis of TG THERAPEUTICS’ wellbeing and determined that it is a medium risk investment based on financial and business aspects. We have detected three risk warnings in its income sheet, balance sheet, and cashflow statement. To take a deeper look at the data, become a registered user and check out the details. Income sheets are used to analyze the company’s profitability over a period of time. In this case, it helps us get a clear understanding of TG THERAPEUTICS’ performance in terms of revenue growth and costs. Balance sheets inform us of the company’s assets, liabilities, and equity. This gives us an insight into the company’s financial stability. Finally, cashflow statements reveal the company’s sources and uses of cash. We use this information to assess the company’s ability to pay its debts and generate cash for operations. By combining these three components, GoodWhale has been able to gain a comprehensive view of TG THERAPEUTICS and make an informed assessment of its risk level. To learn more, become a registered user and check out the warnings we detected in the company’s financial documents. More…
Peers
The competition in the biotechnology industry is fierce, with companies constantly vying for the top spot. TG Therapeutics Inc is no exception, and its competitors Virios Therapeutics Inc, VistaGen Therapeutics Inc, and Genocea Biosciences Inc are all major players in the industry. While each company has its own strengths and weaknesses, it is clear that they are all striving to be the best in the business.
– Virios Therapeutics Inc ($NASDAQ:VIRI)
Virios Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat viral infections. The Company’s product candidate, VIR-101, is a first-in-class, orally-available, small molecule inhibitor of the helicase activity of the hepatitis C virus (HCV) NS3/4A protein. The Company’s second product candidate, VIR-201, is an orally-available, small molecule inhibitor of the HCV NS5B polymerase. The Company’s third product candidate, VIR-301, is an HCV NS5A inhibitor.
– VistaGen Therapeutics Inc ($NASDAQ:VTGN)
VistaGen Therapeutics Inc is a clinical-stage biopharmaceutical company, which engages in the development of new generation medicines for anxiety, depression, and other central nervous system (CNS) disorders. Its patented Human Neural Stem Cell (hNSC) technology platform produces functional human neurons in a dish that have the same genetic background as the patient, providing an in vitro model to assess the patient’s specific response to new drugs and therapeutics before they are ever tested in humans. The company was founded by Shawn K. Singh on April 4, 2000 and is headquartered in South San Francisco, CA.
Summary
TG Therapeutics recently released its second quarter earnings report for the fiscal year ending June 30, 2023. Revenue saw a large increase from the previous year, reaching USD 16.1 million. Unfortunately, net income was reported at USD -47.6 million, a dramatic decrease from the prior year. The stock price reacted to this news by moving lower.
Investors may want to observe the company’s performance closely over the next several quarters to determine whether this decrease in net income is a trend or an anomaly. Looking at other financial metrics may help investors make a more informed decision when considering whether TG Therapeutics is a worthwhile investment.
Related Posts
Recent Posts
