{"url_path":"/sec/tgtx/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-02-27","source_url":"https://www.sec.gov/Archives/edgar/data/1001316/0001437749-26-006133-index.html","accession_number":"0001437749-26-006133","cik":"0001001316","ticker":"TGTX","issuer_name":"TG THERAPEUTICS, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1001316/0001437749-26-006133-index.html","primary_entity_key":"0001001316","primary_entity_name":"TG THERAPEUTICS, INC."},"word_count":4656,"has_tables":true,"body_markdown":"tgtx20251231_10k.htm\n\n0001001316\nTG THERAPEUTICS, INC.\nfalse\n--12-31\nFY\n2025\ntrue\ntrue\ntrue\nfalse\nThe Board receives regular reports from our Chief Executive Officer, Chief Financial Officer and other members of management, regarding material cybersecurity threats and risks, effectiveness of our information security processes and status of ongoing cybersecurity initiatives and strategies. Our information technology (IT) team, which is overseen by our Vice President of IT, is responsible for the identification, assessment and management of cybersecurity risks we face and ensuring effective implementation of the Company’s overall cybersecurity efforts. Our Vice President of IT has over 25 years of experience in IT systems, including cybersecurity risk management and incident response, and holds multiple industry-recognized certifications. Our Vice President of IT receives regular reports from the corporate IT Security Team, together with information provided by our third-party service organizations that support monitoring of aspects of the Company’s IT environment, regarding the Company’s material cybersecurity threats and risks and the processes the Company has implemented to address them, which information is reported, as appropriate, to the Chief Financial Officer.\nThe Board receives regular reports from our Chief Executive Officer, Chief Financial Officer and other members of management, regarding material cybersecurity threats and risks, effectiveness of our information security processes and status of ongoing cybersecurity initiatives and strategies. Our information technology (IT) team, which is overseen by our Vice President of IT, is responsible for the identification, assessment and management of cybersecurity risks we face and ensuring effective implementation of the Company’s overall cybersecurity efforts. Our Vice President of IT has over 25 years of experience in IT systems, including cybersecurity risk management and incident response, and holds multiple industry-recognized certifications. Our Vice President of IT receives regular reports from the corporate IT Security Team, together with information provided by our third-party service organizations that support monitoring of aspects of the Company’s IT environment, regarding the Company’s material cybersecurity threats and risks and the processes the Company has implemented to address them, which information is reported, as appropriate, to the Chief Financial Officer.\nThe Board receives regular reports from our Chief Executive Officer, Chief Financial Officer and other members of management, regarding material cybersecurity threats and risks, effectiveness of our information security processes and status of ongoing cybersecurity initiatives and strategies. Our information technology (IT) team, which is overseen by our Vice President of IT, is responsible for the identification, assessment and management of cybersecurity risks we face and ensuring effective implementation of the Company’s overall cybersecurity efforts. Our Vice President of IT has over 25 years of experience in IT systems, including cybersecurity risk management and incident response, and holds multiple industry-recognized certifications. Our Vice President of IT receives regular reports from the corporate IT Security Team, together with information provided by our third-party service organizations that support monitoring of aspects of the Company’s IT environment, regarding the Company’s material cybersecurity threats and risks and the processes the Company has implemented to address them, which information is reported, as appropriate, to the Chief Financial Officer.\nThe Board receives regular reports from our Chief Executive Officer, Chief Financial Officer and other members of management, regarding material cybersecurity threats and risks, effectiveness of our information security processes and status of ongoing cybersecurity initiatives and strategies. Our information technology (IT) team, which is overseen by our Vice President of IT, is responsible for the identification, assessment and management of cybersecurity risks we face and ensuring effective implementation of the Company’s overall cybersecurity efforts. Our Vice President of IT has over 25 years of experience in IT systems, including cybersecurity risk management and incident response, and holds multiple industry-recognized certifications. Our Vice President of IT receives regular reports from the corporate IT Security Team, together with information provided by our third-party service organizations that support monitoring of aspects of the Company’s IT environment, regarding the Company’s material cybersecurity threats and risks and the processes the Company has implemented to address them, which information is reported, as appropriate, to the Chief Financial Officer.\ntrue\ntrue\nfalse\nfalse\nfalse\nfalse\ntrue\ntrue\n0\n0\n\n0.001\n0.001\n190,000,000\n190,000,000\n158,849,596\n156,204,159\n155,305,953\n155,836,256\n3,543,643\n367,903\n0.8\n1\n0\n5\n0\n0\n2.8\n0\n4.6\n5\n2\n6\n2\n15\n15\n0.2\n0.2\n0\n10\n10\n10\n5\n90\nAmounts as of December 31, 2023 have been reclassified to conform to current period presentation.\nState and local income taxes in Kentucky, New York and New York City represent the majority of the tax effect in this category for the year ending December 31, 2025. Tennessee represents the majority of the tax effect in this category for the year ending December 31, 2024. Kentucky represents the majority of the tax effect in this category for the year ending December 31, 2023.\nAs the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date and considering the term of the lease to determine the present value of lease payments. The Company used the incremental borrowing rate of 10.25% on February 28, 2019, for operating leases that commenced prior to that date through December 31, 2021. 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of Contents](#toc)\n\n \n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n**FORM** **10-K**\n\n \n\n**☒ ANNUAL REPORT PURSUANT TO SECTION** **13 OR 15(d)** **OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n**For the fiscal** **year ended December 31, 2025.**\n\n**OR**\n\n \n\n**☐ TRANSITION REPORT PURSUANT TO SECTION** **13 OR 15(d)** **OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n**For the transition period from ________ to ________.**\n\n \n\n**Commission File Number 1-32639**\n\n**TG THERAPEUTICS,** **INC.**\n\n**(Exact name of registrant as specified in its charter)**\n\n \n\n**Delaware**\n\n**36-3898269**\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification No.)\n\n​\n\n​\n\n**3020 Carrington Mill Blvd, Suite 475**\n\n​\n\n**Morrisville, North Carolina**\n\n**27560**\n\n(Address of principal executive offices)\n\n(Zip Code)\n\n ​\n\n**Registrant**’**s telephone number, including area code: (212) 554-4484**\n\n \n\n**Securities registered pursuant to Section** **12(b)** **of the Act:**\n\n \n\n \n\n**Title of Class**\n\n**Trading Symbol(s)**\n\n**Exchange Name**\n\nCommon Stock, par value $0.001\n\nTGTX\n\nNasdaq Capital Market\n\n \n\n**Securities registered pursuant to Section** **12(g)** **of the Act:**    None\n\n \n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐\n\n \n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒\n\n \n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\n \n\nLarge accelerated filer ☒\n\nAccelerated filer ☐\n\nNon-accelerated filer ☐\n\nSmaller reporting company ☐\n\n​\n\nEmerging growth company ☐\n\n ​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒\n\n \n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b) . ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nThe aggregate market value of voting common stock held by non-affiliates of the registrant (assuming, for purposes of this calculation, without conceding, that all executive officers and directors are “affiliates”) was approximately $2.5 billion as of June 30, 2024, based on the closing sale price of such stock as reported on the NASDAQ Capital Market.\n\n \n\nThere were 159,688,256 shares of the registrant’s common stock, $0.001 par value, outstanding as of February 25, 2026.\n\n \n\n**DOCUMENTS INCORPORATED BY REFERENCE**\n\n \n\nPortions of the registrant’s Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K.\n\n ​\n\nAuditor Name: KPMG LLP   Auditor Location: New York, NY    Auditor Firm ID: 185\n\n ​\n\n \n\n[Table of Contents](#toc)\n\n  \n\n \n\n \n\n**TG THERAPEUTICS,** **INC.**\n\n**ANNUAL REPORT ON FORM** **10-K**\n\n**FOR THE FISCAL** **YEAR ENDED December 31, 2025**\n\n \n\n**TABLE OF CONTENTS**\n\n​\n\n \n\n**Page**\n\n[SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS](#special)\n\n[2](#special)\n\n[SUMMARY RISK FACTORS](#summary)\n\n[3](#summary)\n\n​\n\n​\n\n​\n\n[**PART** **I**](#part1)\n\n​\n\n[5](#part1)\n\n \n \n \n\n[ITEM 1](#item1)\n\n[Business](#item1)\n\n[5](#item1)\n\n[ITEM 1A](#item1a)\n\n[Risk Factors](#item1a)\n\n[17](#item1a)\n\n[ITEM 1B](#item1b)\n\n[Unresolved Staff Comments](#item1b)\n\n[54](#item1b)\n\n[ITEM 1C](#item1c)\n[Cybersecurity](#item1c)\n[54](#item1c)\n\n[ITEM 2](#item2)\n\n[Properties](#item2)\n\n[54](#item2)\n\n[ITEM 3](#item3)\n\n[Legal Proceedings](#item3)\n\n[54](#item3)\n\n[ITEM 4](#item4)\n\n[Mine Safety Disclosures](#item4)\n\n[54](#item4)\n\n​\n\n​\n\n​\n\n[**PART II**](#part2)\n\n​\n\n[55](#part2)\n\n​\n\n​\n\n​\n\n[ITEM 5](#item5)\n\n[Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#item5)\n\n[55](#item5)\n\n[ITEM 6](#item6)\n\n[Removed and Reserved](#item6)\n\n[56](#item6)\n\n[ITEM 7](#item7)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#item7)\n\n[56](#item7)\n\n[ITEM 7A](#item7a)\n\n[Quantitative and Qualitative Disclosure About Market Risk](#item7a)\n\n[65](#item7a)\n\n[ITEM 8](#item8)\n\n[Financial Statements and Supplementary Data](#item8)\n\n[65](#item8)\n\n[ITEM 9](#item9)\n\n[Changes in and Disagreements With Accountants on Accounting and Financial Disclosures](#item9)\n\n[65](#item9)\n\n[ITEM 9A](#item9a)\n\n[Controls and Procedures](#item9a)\n\n[65](#item9a)\n\n[ITEM 9B](#itme9b)\n\n[Other Information](#itme9b)\n\n[65](#itme9b)\n\n​\n\n​\n\n​\n\n[**PART III**](#part3)\n\n​\n\n[65](#part3)\n\n​\n\n​\n\n​\n\n[ITEM 10](#item10)\n\n[Directors, Executive Officers and Corporate Governance](#item10)\n\n[65](#item10)\n\n[ITEM 11](#item11)\n\n[Executive Compensation](#item11)\n\n[65](#item11)\n\n[ITEM 12](#item12)\n\n[Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#item12)\n\n[66](#item12)\n\n[ITEM 13](#item13)\n\n[Certain Relationships and Related Transactions, and Director Independence](#item13)\n\n[66](#item13)\n\n[ITEM 14](#item14)\n\n[Principal Accounting Fees and Services](#item14)\n\n[66](#item14)\n\n​\n\n​\n\n​\n\n[**PART IV**](#part4)\n\n​\n\n[66](#part4)\n\n​\n\n​\n\n​\n\n[ITEM 15](#item15)\n\n[Exhibits and Financial Statement Schedules](#item15)\n\n[66](#item15)\n\n \n\n1\n\n[Table of Contents](#toc)\n\n  \n\n \n\n**SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS**\n\n \n\nCertain matters discussed in this Annual Report on Form 10-K contain forward-looking statements. All statements other than statements of historical facts may constitute forward-looking statements. We intend such forward-looking statements to be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including Section 27A of the Securities Act of 1933, as amended (Securities Act) and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would” or the negative of these words or other comparable terminology, although not all forward-looking statements contain these identifying words.\n\n \n\nAll written or oral forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements. Such forward-looking statements include, but are not limited to, statements about:\n\n \n\n●\n\nour ability to obtain regulatory approvals for our product candidates and our ability to maintain regulatory approval of BRIUMVI® (ublituximab-xiiy) 150 mg/6 mL Injection for intravenous therapy for the treatment of relapsing forms of multiple sclerosis (RMS) or any other future indication in the United States (U.S.) or any other jurisdiction outside of the U.S.;\n\n●\n\nour ability to adapt and expand our commercial infrastructure to successfully, or in the timeframe projected, market and sell BRIUMVI and our other product candidates; \n\n●\n\nour ability to maintain a reliable supply of our products that meets market demand; \n\n●\n\nthe timing and success of the ongoing commercialization and availability of BRIUMVI or any future products or combinations of products, including the anticipated rate and degree of market acceptance and pricing and reimbursement; \n\n●\n\nthe initiation, timing, progress and results of our preclinical studies and clinical trials; \n\n●\n\nour ability to advance drug candidates into, and successfully complete, clinical trials; \n\n●\n\nour ability to develop, formulate, manufacture and commercialize our product candidates; \n\n●\n\nour ability to establish and maintain contractual relationships and partnerships, on commercially reasonable terms, with third parties for manufacturing, distribution, marketing and supply and a range of other support functions for our clinical development and commercialization efforts; \n\n●\n\nthe implementation of our business model and strategic plans for our business and drug candidates; \n\n●\n\nthe scope of protection we are able to establish and maintain for intellectual property rights covering our product and product candidates; \n\n●\n\nestimates of our expenses, future revenues, capital requirements and our needs for additional financing; \n\n●\n\nour ability to maintain and establish collaborations and enter into strategic arrangements, if desired; \n\n●\n\nour ability to meet any of our financial projections or guidance, including without limitation short and long-term revenue and operating expense projections or guidance and changes to the assumptions underlying those projections or guidance; \n\n●\n\nour ability to obtain sufficient capital to fund our planned operations; \n\n●\n\nour financial performance and cash burn management; \n\n●\n\nour ability to maintain or obtain adequate product liability and other insurance coverage;\n\n●\n\ndevelopments relating to our competitors and our industry;\n\n●\n\nthe effects on our company of future regulatory developments or legislative actions, including changes in healthcare, environmental and other laws and regulations to which we are subject, including tariffs that may apply to products that we purchase or sell;\n\n●\n\nprevailing economic, market and business conditions;\n\n●\n\nour ability to retain, attract and hire key personnel;\n\n●\n\nour competitive position;\n\n●\n\nfluctuations in the trading price of our common stock;\n\n●\n\nour use of cash and other resources; and\n\n●\n\nour ability to successfully implement our strategy.\n\n \n\nForward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. You should refer to the “Risk Factors” section in this Annual Report on Form 10-K for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from our expectations. We caution you not to rely unduly on any forward-looking statements.\n\n \n\nThese forward-looking statements speak only as of the date of this Annual Report on Form 10-K. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should therefore not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this Annual Report on Form 10-K.\n\n \n\n2\n\n[Table of Contents](#toc)\n\n \n\n**SUMMARY RISK FACTORS**\n\n \n\nOur business is subject to a number of risks of which you should be aware before making an investment decision. The risks described below are a summary of the principal risks associated with an investment in us and are not the only risks we face. You should carefully consider these risks, the risk factors discussed in the section entitled “Risk Factors” in Part I, Item 1A of this Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and any other risks described in the other reports and documents that we have filed with the Securities and Exchange Commission (SEC).\n\n \n\n**Risks Related to Commercialization**\n\n●\n\nIf we obtain marketing approval from the U.S. Food and Drug Administration (FDA) or any comparable regulatory authority outside of the U.S. for a product candidate and do not achieve broad market acceptance among physicians, patients, healthcare payors, and the medical community, the revenues that we generate from product sales will be limited.\n\n●\n\nWe may be subject to limitations on the indicated uses or requirements to fulfill certain post-marketing requirements or commitments to the satisfaction of regulatory authorities or may be unable to maintain marketing approval for BRIUMVI or future products that we may bring to market.\n\n●\n\nBRIUMVI, and any of our product candidates for which we in the future obtain marketing approval, may, after approval, be found to cause undesirable side effects that could result in significant negative consequences following commercialization.\n\n●\n\nThe incidence and prevalence for target patient populations of BRIUMVI and our other product candidates have not been established with precision. If the market opportunities for BRIUMVI and our product candidates are smaller than we estimate or if any approval that we obtain is based on a narrower definition of the patient population, our revenue and ability to achieve profitability will be adversely affected.\n\n●\n\nWe face substantial competition, which may result in others commercializing drugs before or more successfully than we do, resulting in the reduction or elimination of our commercial opportunity.\n\n●\nBRIUMVI, as well as any products that we are able to commercialize in the future, may become subject to unfavorable pricing regulations or third-party payor coverage and reimbursement policies, which would harm our business.\n\n●\n\nProduct liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any drug candidates that we may develop.\n\n \n\n**Risks Related to our Financial Position and Need for Additional Capital**\n\n●\n\nWe have incurred substantial operating losses since our inception, and we may incur losses in the future.\n\n●\n\nWhile we do not expect to need to raise additional capital, we may need to do so. If we are unable to raise capital, if needed, we may be required to delay, limit, reduce or eliminate some of our drug development programs or commercialization efforts.\n\n●\n\nOur level of indebtedness and debt service obligations could adversely affect our financial condition and may make it more difficult for us to fund our operations.\n\n \n\n**Risks Related to Drug Development and Regulatory Approval**\n\n●\n\nIf we are unable to maintain or obtain regulatory approval for our product or product candidates and ultimately cannot successfully commercialize our product or product candidates, or experience significant delays in doing so, our business will be materially harmed.\n\n●\n\nBecause results of preclinical studies and early clinical trials are not necessarily predictive of future results, any product candidate we advance may not have favorable results in later clinical trials or receive regulatory approval. Moreover, interim, “top-line,” and preliminary data from our clinical trials that we announce or publish may change, or the perceived product profile may be negatively impacted, as more patient data or additional endpoints (including efficacy and safety) are analyzed.\n\n●\nBiologics carry unique risks and uncertainties, which could have a negative impact on our business.\n\n●\n\nOur product or product candidates may cause undesirable side effects that could delay or prevent their regulatory approval or impact their availability and commercial potential after approval.\n\n●\n\nAny products or product candidates we may advance through clinical development are subject to extensive regulation, which can be costly and time consuming, cause unanticipated delays or prevent the receipt of the required approvals.\n\n \n\n**Risks Related to Governmental Regulation of the Pharmaceutical Industry and Legal Compliance Matters**\n\n●\n\nWe are subject to new legislation, regulatory proposals and third-party payor initiatives that may increase our costs of compliance and adversely affect our ability to market our products, obtain collaborators and raise capital.\n\n●\n\nInadequate funding, government shutdowns, workforce reductions or other policy changes affecting the FDA, the SEC or other government agencies could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.\n\n●\n\nIf we fail to adequately understand and comply with the local laws and customs as we expand into new international markets, these operations may incur losses or otherwise adversely affect our business and results of operations.\n\n●\n\nAny product for which we obtain marketing approval, including BRIUMVI, could be subject to restrictions or withdrawal from the market and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our products.\n\n \n\n3\n\n[Table of Contents](#toc)\n\n**Risks Related to our Dependence on Third Parties**\n\n●\n\nWe rely on third parties to generate clinical, preclinical and other data necessary to support the regulatory applications needed to conduct clinical trials and submit for marketing approval. We rely on third parties to help conduct our planned clinical trials. If these third parties do not perform their services as required, we may not be able to obtain regulatory approval for or commercialize our product or product candidates when expected or at all.\n\n●\n\nWe contract with third parties for the manufacture and testing of BRIUMVI for commercial supply, as well as all of our clinical product supply, and we expect to continue to do so. This reliance on third parties increases the risk that we will not have sufficient quantities of our products or product candidates or such quantities at an acceptable cost or quality, which could delay, prevent or impair our development or commercialization efforts.\n\n●\n\nThe third parties upon whom we rely for the supply of starting materials, intermediates, active pharmaceutical ingredient (API)/drug substance, drug product, and other materials used in our drug candidates are our sole source of supply, and the loss or disruption of any of these suppliers could significantly harm our business.\n\n●\n\nBecause we have in-licensed BRIUMVI and our product candidates from third parties, any dispute with or non-performance by our licensors will adversely affect our ability to develop and commercialize the applicable product or product candidate.\n\n●\n\nWe are dependent upon our relationships with collaboration and commercialization partners to further develop, fund, manufacture and commercialize our drug products and our product candidates. If such relationships are unsuccessful, or if a collaboration or commercialization partner terminates its collaboration or commercialization agreement with us, it could negatively impact our ability to conduct our business and generate net product revenue. Failure by a collaboration or commercialization partner to perform its duties under its collaboration or commercialization agreement with us may negatively affect us.\n\n \n\n**Risks Related to Intellectual Property**\n\n●\n\nOur success depends upon our ability to obtain and protect our intellectual property and proprietary technologies. If the scope of our patent protection obtained is not sufficiently broad, our competitors could develop and commercialize technology and drugs similar or identical to ours, and our ability to successfully commercialize our technology and drugs may be impaired. At the same time, if the scope of our patent protection is too broad, our competitors may challenge the validity and enforceability of our patents.\n\n●\n\nObtaining and maintaining patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.\n\n●\n\nWe may not be able to enforce our intellectual property rights throughout the world.\n\n●\n\nIf we or our partners are sued for infringing intellectual property rights of third parties, it will be costly and time consuming, and an unfavorable outcome in that litigation would have a material adverse effect on our business.\n\n●\n\nWe may need to license certain intellectual property from third parties, and such licenses may not be available or may not be available on commercially reasonable terms.\n\n●\n\nIf we are unable to protect the confidentiality of our trade secrets, our business and competitive position may be harmed.\n\n \n\n**Risks Related to Our Business Organization and Governance, Strategy, Employees and Growth Management**\n\n●\n\nIf we fail to attract and keep key management, commercial, and clinical development personnel, we may be unable to successfully develop or commercialize our product and product candidates.\n\n●\n\nWe will need to develop and expand our business, and we may encounter difficulties in managing this development and expansion, which could disrupt our operations.\n\n●\n\nCertain of our executive officers, directors, principal stockholders and their affiliates maintain the ability to exercise significant influence over our company and all matters submitted to stockholders for approval.\n\n●\n\nOur internal information technology systems, or those of our third-party CROs, CMOs, or other contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our drug candidates’ development programs and our commercialization of any products for which we receive regulatory approval.\n\n●\n\nUnfavorable global economic conditions and changes in government regulations could adversely affect our business, financial condition or results of operations.\n\n \n\n**Risks Related to Our Common Stock and Being a Publicly Traded Company**\n\n●\n\nOur stock price is, and we expect it to remain, volatile, which could limit investors’ ability to sell our stock at a profit.\n\n●\n\nWe incur significant increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance initiatives.\n\n \n\nThe foregoing is only a summary of some of our risks. These and other risks are discussed more fully in the section entitled “Risk Factors” in Part I, Item 1A and elsewhere in this Annual Report on Form 10-K (our Risk Factors).\n\n \n\n4\n\n[Table of Contents](#toc)\n\n \n\n \n\n**PART  I**\n\n ​\n\n*Unless the context requires otherwise, references in this report to*“*TG,*”**“*Company,*”**“*we,*”**“*us*”*and*“*our*”*refer to TG Therapeutics, Inc. and our subsidiaries. Our name, logo and BRIUMVI are trademarks or tradenames of TG Therapeutics, Inc. All other trademarks, service marks or other tradenames appearing in this Annual Report on Form 10-K are the property of their respective owners.*\n\n ​"}