TG Therapeutics Inc (TGTX) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $-0.69 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 42 percent compared to the same period a year ago.
The company is headquartered in New York, New York. TG Therapeutics, Inc., a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates include Ublituximab, an investigational glycoengineered monoclonal antibody for the treatment of B-cell non-hodgkin lymphoma, chronic lymphocytic leukemia (CLL), and relapsing forms of multiple sclerosis; and Umbralisib, an oral inhibitor of PI3K-delta and CK1-epsilon for the treatment of CLL, marginal zone lymphoma, and follicular lymphoma.
TG Therapeutics' revenue increased 497 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 96.6% for the first quarter compared to the same period in the previous year, and operating margins increased to 11248.68% over the same period. Net earnings for past trailing twelve months were $-318.89 million, down 69% from the prior year.
Moving on to the balance sheet, TG Therapeutics' cash levels jumped 806% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 314.8% this past year. The current ratio for TG Therapeutics now stands at 5.78. The company increased shares outstanding by 28.42%.
Shares of TGTX are currently trading around $37.52. In terms of valuation, the stock is trading at a price to book ratio of 11.11.