TG Therapeutics, Inc
(NASDAQ:TGTX)

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 monoclon...

Website: http://www.tgtherapeutics.com

Founded: 1993

Full Time Employees: 217

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals

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At a glance:

Bull Thesis:

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Main Competitors:

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-05-10	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-08-06	2007-06-30	2007-03-31

revenue:
product revenue	201,308,000	189,113,000	159,317,000	138,843,000	119,655,000	107,347,000	83,297,000	72,596,000	50,488,000	43,137,000	25,068,000	16,036,000	7,765,000	42,000	56,000	556,000	1,978,000	2,283,000	1,992,000	1,507,000	755,000
license, milestone, royalty and other revenue	3,610,000	3,461,000	2,392,000	2,305,000	1,201,000	838,000	582,000	870,000	12,986,000
total revenue	204,918,000	192,574,000	161,709,000	141,148,000	120,856,000	108,185,000	83,879,000	73,466,000	63,474,000	43,971,000	165,815,000	16,074,000	7,803,000	80,000	94,000	594,000	2,016,000	2,321,000	2,030,000	1,545,000	793,000
yoy	69.56%	78.00%	92.79%	92.13%	90.40%	146.04%	-49.41%	357.05%	713.46%	54863.75%	176298.94%	2606.06%	287.05%	-96.55%	-95.37%	-61.55%	154.22%
qoq	6.41%	19.09%	14.57%	16.79%	11.71%	28.98%	14.17%	15.74%	44.35%	-73.48%	931.57%	106.00%	9653.75%	-14.89%	-84.18%	-70.54%	-13.14%	14.33%	31.39%	94.83%
costs and expenses:
cost of revenue	33,510,000	38,142,000	28,093,000	18,938,000	15,541,000	15,399,000	9,341,000	8,304,000	5,441,000	7,854,000	3,509,000
research and development:
stock-based compensation	4,875,000
other research and development	43,521,000	37,559,000	35,543,000	27,464,000	43,031,000	20,714,000	17,110,000	15,036,000	30,270,000	14,601,000	11,838,000	22,458,000	14,286,000	23,882,000	17,552,000	24,546,000	46,147,000	57,660,000	47,433,000	37,855,000	55,583,000	37,149,000	45,846,000	34,896,000	34,043,000	29,455,000	56,503,000	31,414,000	30,896,000	30,896,000	51,069,000	32,754,000	34,812,000	32,159,000	25,736,101	25,334,762	25,439,477	20,375,794	21,414,723	20,878,108	12,966,574	11,230,415	13,725,926	11,538,246	9,902,214	8,279,431	12,807,504	8,352,154	2,336,771	2,508,258	3,606,385	3,138,119	4,661,455	1,215,202	860,222	1,433,711	1,536,896	163,353
total research and development	48,396,000	41,193,000	40,878,000	31,782,000	46,362,000	23,874,000	20,138,000	17,556,000	32,722,000	17,449,000	14,753,000	28,122,000	15,870,000	29,635,000	20,801,000	26,874,000	48,042,000	62,646,000	51,967,000	44,871,000	63,094,000	42,961,000	50,464,000	36,449,000	36,022,000	30,943,000	57,985,000	32,866,000	32,385,000	32,385,000	52,276,000	33,398,000	38,700,000	35,018,000	25,996,108	27,149,050	26,705,799	22,681,893	22,283,347	21,797,756	13,533,731	11,617,340	15,254,222	11,574,002	11,261,660	9,617,339	15,136,774	13,691,573	6,848,132	4,409,868	3,755,591	3,309,561	5,027,623	1,569,905	1,079,742	1,560,802	1,646,094	16,741,353
selling, general and administrative:
other selling, general and administrative	73,142,000	50,727,000	51,022,000	43,541,000	38,691,000	30,175,000	33,221,000	31,828,000	27,694,000	24,616,000	26,500,000	23,838,000	22,828,000	17,206,000	10,514,000	15,942,000	20,383,000	23,042,000	25,436,000	24,729,000	17,655,000
total selling, general and administrative	88,217,000	62,745,000	63,373,000	55,585,000	50,331,000	38,963,000	41,966,000	38,790,000	34,581,000	31,153,000	32,769,000	30,715,000	28,068,000	22,504,000	14,254,000	12,638,000	20,609,000	32,412,000	34,899,000	34,017,000	26,762,000
total costs and expenses	170,123,000	142,080,000	132,344,000	106,305,000	112,234,000	78,236,000	71,445,000	64,650,000	72,744,000	56,456,000	51,031,000	60,748,000	44,795,000	52,142,000	35,057,000	39,535,000	68,888,000	95,268,000	87,158,000	79,036,000	89,995,000	86,820,000	85,760,000	50,883,000	50,283,000	37,999,000	60,899,000	35,582,000	34,727,000	34,727,000	54,188,000	34,366,000	44,383,000	40,615,000	31,072,826	31,623,323	28,463,466	27,704,517	24,066,153	24,963,567	16,061,538	14,030,251	17,678,096	13,863,680	17,149,675	14,640,946	18,759,219	17,477,442	11,993,592	7,643,220	8,013,861	4,685,513	6,666,860	3,752,136	3,709,637	2,714,226	3,104,930	17,385,354
operating income	34,795,000	50,494,000	29,365,000	34,843,000	8,622,000	29,949,000	12,434,000	8,816,000	-9,270,000	-12,485,000	114,784,000	-44,674,000	-36,992,000	-52,062,000	-34,963,000	-38,941,000	-66,872,000	-92,947,000	-85,128,000	-77,492,000	-89,202,000	-86,782,000	-85,722,000	-50,845,000	-50,245,000	-37,961,000	-60,861,000	-35,544,000	-34,689,000	-34,689,000	-54,150,000	-34,328,000	-44,345,000	-41,577,000	-31,034,731	-31,585,227	-28,425,371	-27,666,422	-24,028,058	-24,925,471	-16,023,443	-13,992,156	-17,640,001	-13,825,584	-17,111,580	-14,602,851	-18,721,124	-17,439,346	-11,955,497	-7,605,125	-7,975,766	-4,647,417	-6,628,765	-3,714,041	-3,690,589	-2,714,226	-3,104,930	-17,385,354	-261,843	-322,906	-566,085	-446,569	-515,631	-525,091	-529,445	-341,321	-395,640	-477,260	-557,336	52,253	-1,383,558	-1,467,266	-1,614,131	-1,918,756	-2,707,021	-45,141,536	-4,924,008	-45,141,536
yoy	303.56%	68.60%	136.17%	295.22%	-193.01%	-339.88%	-89.17%	-119.73%	-74.94%	-76.02%	-428.30%	14.72%	-44.68%	-43.99%	-58.93%	-49.75%	-25.03%	7.10%	-0.69%	52.41%	77.53%	128.61%	40.85%	43.05%	44.84%	9.43%	12.39%	3.54%	-21.77%	-16.57%	74.48%	8.68%	56.00%	50.28%	29.16%	26.72%	77.40%	97.73%	36.21%	80.29%	-6.36%	-4.18%	-5.77%	-20.72%	43.13%	92.01%	134.73%	275.25%	80.36%	104.77%	116.11%	71.22%	113.49%	-78.64%	1309.47%	740.56%	448.49%	3793.09%	-49.22%	-38.50%	6.92%	30.84%	30.33%	10.02%	-5.00%	-753.21%	-71.40%	-67.47%	-65.47%	-102.72%	-48.89%	-96.75%	-67.22%	-95.75%
qoq	-31.09%	71.95%	-15.72%	304.12%	-71.21%	140.86%	41.04%	-195.10%	-25.75%	-110.88%	-356.94%	20.77%	-28.95%	48.91%	-10.22%	-41.77%	-28.05%	9.18%	9.85%	-13.13%	2.79%	1.24%	68.59%	1.19%	32.36%	-37.63%	71.23%	2.46%	0.00%	-35.94%	57.74%	-22.59%	6.66%	33.97%	-1.74%	11.12%	2.74%	15.14%	-3.60%	55.56%	14.52%	-20.68%	27.59%	-19.20%	17.18%	-22.00%	7.35%	45.87%	57.20%	-4.65%	71.62%	-29.89%	78.48%	0.64%	35.97%	-12.58%	-82.14%	6539.61%	-18.91%	-42.96%	26.76%	-13.39%	-1.80%	-0.82%	55.12%	-13.73%	-17.10%	-14.37%	-1166.61%	-103.78%	-5.71%	-9.10%	-15.88%	-29.12%	-94.00%	816.76%	-89.09%
operating margin %	16.98%	26.22%	18.16%	24.69%	7.13%	27.68%	14.82%	12.00%	-14.60%	-28.39%	69.22%	-277.93%	-474.07%	-65077.50%	-37194.68%	-6555.72%	-3317.06%	-4004.61%	-4193.50%	-5015.66%	-11248.68%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%
other expense:
interest expense	7,666,000	6,533,000	6,721,000	6,716,000	6,757,000	7,061,000	10,832,000	3,977,000	2,288,000	2,431,000	3,713,000	3,627,000	2,844,000	2,862,000	1,648,000	3,017,000	2,664,000	1,079,000	1,038,000	1,623,000	1,898,000	1,291,000	1,610,000	2,228,000	1,201,000	1,899,000	1,537,000	1,077,000											168,674.75	211,538	220,756	242,405	242,026	246,527	246,526	237,657	234,787	234,787	234,787	226,340	240,872	240,530	240,014	231,472	228,901	228,585	228,109	220,149	1,165,078	428,210	289,598	234,388.75	349,562	351,215	236,777	99,174.5	136,738	134,510	125,450	45,986	18,804			1		26,033		26,033
loss on extinguishment of debt	9,153,000
other income	-2,387,000	-1,132,000	-3,265,000	-2,793,000	-3,603,000	-2,565,000	-2,666,000	-1,712,000	-880,000	-890,000	-2,859,000	-691,000	-604,000	-1,930,000	-793,000	-1,448,000	-523,000	-688,000	-529,000	-618,000	-472,000	145,000	-169,000	-189,000	-330,000	-288,000	-468,000	-408,000		616,000									-8,260.5	-33,042										-95,427							-272,232
total other expense	14,432,000	5,401,000	3,456,000	3,923,000	3,154,000	4,496,000	8,166,000	2,265,000	1,408,000	1,541,000	854,000	2,936,000	2,240,000	932,000	855,000	1,569,000	2,141,000	391,000	509,000	1,005,000	1,426,000	1,436,000	1,441,000	2,039,000	871,000	1,611,000	1,069,000	669,000	467,000					-48,000	-15,193.75	-49,575	-72,287	61,087					-28,189	-169,668	-8,397		75,305	11,823	30,933					-40,430				11,184	289,896	2,659,633	-4,398,468	-811,800	-556,878	-2,375,427	1,103,724	-118,408	20,449		204,508	-17,269.5	10,758
net income before taxes	20,363,000	45,093,000	25,909,000	30,920,000	5,468,000	25,453,000	4,268,000	6,551,000
income tax expense	-586,000				408,000	22,250	388,000
net income	19,777,000	23,037,000	390,895,000	28,187,000	5,060,000	23,331,000	3,880,000	6,879,000	-10,707,000	-14,416,000	113,930,000	-47,610,000	-39,232,000	-52,994,000	-35,818,000	-40,510,000	-69,013,000	-93,338,000	-85,637,000	-78,497,000	-90,628,000	-88,218,000	-87,163,000	-52,884,000	-51,116,000	-39,572,000	-61,930,000	-36,213,000	-35,156,000	-35,156,000	-53,860,000	-33,951,000	-44,142,000	-41,529,000	-30,859,767	-31,535,652	-28,353,084	-27,727,509	-23,674,143	-24,831,027	-15,899,062	-13,848,662	-17,611,812	-13,655,916	-17,103,183	-14,577,735												-17,396,538	-551,739	-2,982,539	3,832,383	365,231	41,247	1,850,336	-1,633,169	-222,913	-416,089	-1,392,437	-761,844	127,019	-1,394,316	-1,422,212	-1,559,474	-1,904,174	-2,669,421	-44,351,431	-4,894,400	-44,351,431
yoy	290.85%	-1.26%	9974.61%	309.75%	-147.26%	-261.84%	-96.59%	-114.45%	-72.71%	-72.80%	-418.08%	17.53%	-43.15%	-43.22%	-58.17%	-48.39%	-23.85%	5.80%	-1.75%	48.43%	77.30%	122.93%	40.74%	46.04%	45.40%	12.56%	14.98%	6.66%	-20.36%	-15.35%	74.53%	7.66%	55.69%	49.78%	30.35%	27.00%	78.33%	100.22%	34.42%	81.83%	-7.04%	-5.00%																-4863.16%	-1437.65%	-261.19%	-334.66%	-263.84%	-109.91%	-232.88%	114.37%	-275.50%	-70.16%	-2.09%	-51.15%	-106.67%	-47.77%	-96.79%	-68.14%	-95.71%
qoq	-14.15%	-94.11%	1286.79%	457.06%	-78.31%	501.31%	-43.60%	-164.25%	-25.73%	-112.65%	-339.30%	21.36%	-25.97%	47.95%	-11.58%	-41.30%	-26.06%	8.99%	9.10%	-13.39%	2.73%	1.21%	64.82%	3.46%	29.17%	-36.10%	71.02%	3.01%	0.00%	-34.73%	58.64%	-23.09%	6.29%	34.57%	-2.14%	11.22%	2.26%	17.12%	-4.66%	56.18%	14.81%	-21.37%	28.97%	-20.16%	17.32%													3053.04%	-81.50%	-177.82%	949.30%	785.47%	-97.77%	-213.30%	632.65%	-46.43%	-70.12%	82.77%	-699.79%	-109.11%	-1.96%	-8.80%	-18.10%	-28.67%	-93.98%	806.17%	-88.96%
net income margin %	9.65%	11.96%	241.73%	19.97%	4.19%	21.57%	4.63%	9.36%	-16.87%	-32.79%	68.71%	-296.19%	-502.78%	-66242.50%	-38104.26%	-6819.87%	-3423.26%	-4021.46%	-4218.57%	-5080.71%	-11428.50%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%
net income per common share:
basic	140	200	2,690	190	30		30	50		-100	800
diluted	120	150	2,430	170	30		20	40		-100	730
weighted-average shares of common stock outstanding
basic	144,439,370,000	144,316,786,000	145,416,901,000	146,739,833,000	146,677,783,000	145,317,418,000	145,102,479,000	144,727,482,000		141,955,112,000	142,871,227,000
diluted	160,062,326,000	161,412,746,000	160,997,977,000	162,559,404,000	162,769,202,000	160,336,051,000	160,714,388,000	159,423,571,000		148,508,465,000	155,871,749,000
noncash compensation		3,634,000	5,335,000	4,318,000	3,331,000	3,160,000	3,028,000	2,520,000	2,452,000	2,848,000	2,915,000	5,664,000	1,584,000	5,753,000	3,249,000	2,328,000	1,895,000	4,986,000	4,534,000	7,016,000	7,511,000	5,812,000	4,618,000	1,553,000	1,979,000	1,488,000	1,482,000	1,352,000	1,489,000	1,489,000	1,207,000	644,000	888,000	2,859,000	260,007	1,814,288	1,266,322	2,306,099	868,624	919,648	567,157	386,925	1,528,296	35,756	1,359,446	1,337,908	2,329,270	1,200,575	3,300,111	1,901,610	149,206	171,442	366,168	354,703	219,520	127,091	109,198
income tax benefit		-22,056,000	364,986,000	-2,733,000				328,000
net loss before taxes									-10,678,000
income taxes									29,000
basic and diluted net loss per common share									-70			-340	-280	-380	-260	-300	-510	-700	-650	-590	-690	-720	-730	-470	-480	-410	-690	-420	-430		-690	-430	-590	-590	-0.46	-0.48	-0.45	-0.52	-0.49	-0.5	-0.33	-0.28	-0.37	-0.28	-0.38	-0.35	-0.5	-0.51	-0.36	-0.25	-0.19	-0.16	-0.29	-0.17	-0.04	-0.16	-0.16	-2.03
weighted-average shares used for eps calculation									146,209,213,000			141,503,738,000	140,312,269,000	135,411,258,000	135,327,035,000	134,779,904,000	134,400,500,000	132,222,753,000	132,353,119,000	132,072,996,000	131,898,626,000	115,333,693,000	119,176,336,000	112,353,414,000	105,461,892,000	88,368,844,000	89,667,979,000	86,800,017,000	81,174,301,000	81,174,301,000	75,466,813,000	78,221,069,000	74,256,348,000	70,636,970,000	62,069,570	65,079,128	63,288,269	53,157,851	49,041,354	49,203,277	48,769,948	48,908,278	45,646,414	47,946,309	45,320,637	41,088,752	34,068,926	34,188,108	32,985,130	30,091,000	25,413,964	27,684,802	22,483,394	21,953,803	13,113,758	15,810,299	11,777,563	5,061,399
license, milestone and other revenue										834,000	140,747,000

weighted-average shares outstanding:
basic	144,439,370,000	144,316,786,000	145,416,901,000	146,739,833,000	146,677,783,000	145,317,418,000	145,102,479,000	144,727,482,000		141,955,112,000	142,871,227,000
diluted	160,062,326,000	161,412,746,000	160,997,977,000	162,559,404,000	162,769,202,000	160,336,051,000	160,714,388,000	159,423,571,000		148,508,465,000	155,871,749,000
license revenue												38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,095	38,096	38,095	38,095	38,095	38,096	38,095	38,095	38,095	38,096	38,095	38,095	38,095	38,096	38,095	38,095	38,095	38,096	38,095	38,095
cost of product revenue												1,911,000	857,000	3,000	2,000	23,000	237,000	210,000	292,000	148,000	139,000
noncash stock expense associated with in-licensing agreements
general and administrative:
other general and administrative																						16,150,000	11,584,000	8,617,000	5,172,000	2,924,000	2,321,000	2,311,000	1,949,000	1,949,000	1,661,000	1,785,000	2,308,000	2,119,000	1,766,747	1,398,438	1,534,261	1,333,268	1,322,831	1,251,421	1,446,567	1,100,871	1,095,126	1,085,400	1,004,475	1,004,487	913,279	889,872	706,725	903,524	662,728	550,639	631,637	651,457	501,123	462,425	396,043	455,492
total general and administrative																						43,859,000	35,296,000	14,434,000	14,261,000	7,056,000	2,914,000	2,716,000	2,342,000	2,342,000	1,912,000	968,000	5,683,000	6,597,000	5,076,718	4,474,273	1,757,667	5,022,624	1,782,806	3,165,811	2,527,807	2,412,911	2,423,874	2,289,678	5,888,015	5,023,607	3,622,445	3,785,869	5,145,460	3,233,352	1,460,670	1,375,952	1,639,237	2,182,231	1,525,195	1,153,424	1,458,836	644,001
other expense :
noncash stock expense associated with in–licensing agreements																										25,000
non-cash stock expense associated with in–licensing agreements																												100,000			1,000,000		3,000,000
interest income																													-149,000	-149,000	-266,000	-258,000	-189,000	-144,000	-120,422	-79,163	-50,197	-44,696	-57,576	-87,965	-92,629	-84,862	-64,993	-55,977	-31,551	-22,132	-16,741	-12,107	-12,727	-13,474	-15,768	-12,375	-1,177	-1,502	-3,076	-4,951	-4,092	-3,668
other expense																													616,000		-24,000	-119,000	-14,000	96,000			-22,090	105,783
other income:
total other income																														467,000	-290,000	-377,000	-203,000						-90,579.75	-94,444	-124,381	-143,494				-25,116				-57,876	-2,311,914	-91,222	-44,213		-130,903	-4,025												915,177				-45,054	-54,657	-14,582	-37,600	-790,105	-29,608	-790,105
basic and diluted net income per common share																														-430
other																																			28,320.25	29,588
change in fair value of notes payable																																							-184,630	-184,975	-252,508	-301,037	-205,222	-360,218	-223,372	-240,641	-142,741	-210,857	-191,127	-175,315	-2,428,124	-319,377	-283,050	-270,400	-744,360	-227,659	-482,556
noncash stock expense associated with in-licensing agreement																																																	1,211,250
noncash stock expense associated with in- licensing agreements																																															1,337,523.5	4,138,844
consolidated net incomes																																															-9,246,212	-17,451,169	-11,986,430	-7,547,249	-5,663,852	-4,556,195	-6,584,552	-3,673,611	-3,502,054	-2,710,201	-2,574,159
impairment of in-process research and development
income before income taxes																																																		-7,547,249	-5,663,852	-4,556,195	-6,584,552	-3,673,611
net loss attributable to non-controlling interest																																																										-7,140,448
net loss attributable to tg therapeutics, inc. and subsidiaries																																																		-7,547,249	-5,663,852	-4,556,195	-6,584,552	-3,673,611	-3,459,737	-2,462,239	-1,894,653	-10,256,090
net loss attributable to noncontrolling interest																																																							-2,016,979	-247,962	-679,506
noncash stock expense associated with in- licensing agreement																																																							4,144,500
total other																																																									-530,771
non-cash stock expense associated with in-licensing agreement																																																										16,578,000
non-cash compensation																																																										188,509
change in fair value of non-current notes payable																																																										-205,297
revenue
research and development																																																											95,897	90,218	355,177	190,293	236,734	50,999	17,767	-16,778	5,574	6,644	44,936	-61,860	498,853	565,728	800,071	1,175,647	1,808,958		3,871,634
general and administrative																																																											165,946	232,688	210,908	256,276	278,897	474,092	511,678	358,099	390,066	470,616	512,400	9,607	884,705	901,538	814,060	743,109	898,063		1,052,374
in-process research and development charge																																																																												11,887,807		11,887,807
impairment of intangible assets																																																																												1,248,230		1,248,230
loss on disposition of intangible assets																																																																												1,213,878		1,213,878
total operating expenses																																																											261,843	322,906	566,085	446,569	515,631	525,091	529,445	341,321	395,640	477,260	557,336	-52,253	1,383,558	1,467,266	1,614,131	1,918,756	2,707,021	45,141,536	4,924,008	45,141,536
equity in losses of hedrin jv																																																																		162,952	105,362	95,900	135,786
change in fair value of derivative liability																																																											-2,100,898	2,231,746	-170,435	-674,225	-830,165
interest and other income																																																											-196	-323	-143	-320,140	-76,275	-76,716	-75,314	-334,197	-63,873	-61,900	-126,728	-123,021	-148,184	-132,772	-54,657	-14,583	-37,600	-740,106	-29,608	-740,106
loss on early extinguishment of debt																																																											1,225,912					159,070
realized gain on sale of marketable equity securities																																																																												-76,032		-76,032
preferred stock dividends																																																																												-1,179,644		-1,179,644
net income applicable to common shares																																																											-551,739	-2,982,539	3,832,383	365,231	41,247	1,850,336				-1,392,437								-45,531,075		-45,531,075
net income per common share:
basic and diluted																																																											-0.16	-1.15	0.03			0.02				-0.02
weighted-average shares of common stock outstanding:
basic and diluted																																																											3,431,031	2,595,866	127,439,132	111,875,910						70,624,232
gain on nordic settlement																																																													-4,517,488
weighted average shares of common stock outstanding:
basic and diluted																																																															120,965,244	120,429,688	84,638,502	70,624,232	70,624,232		70,624,232	70,624,232	70,624,232	70,624,232	70,624,232	68,015,075	70,591,623		70,463,543
change in fair value of derivative																																																																-2,808,996	942,261	-98,824	-157,778	746,667	70,000
net loss applicable to common shares																																																																	-1,633,169	-222,913	-416,089		-761,844	127,019	-1,394,316	-1,422,212	-1,559,474	-1,904,174	-2,669,421		-4,894,400
net loss per common share:
basic and diluted																																																																	-0.02		-0.01		-0.01		-0.02	-0.02	-0.02	-0.03	-0.04		-0.07
equity in loss of hedrin jv																																																																						61,932.75	140,138	87,718
(including stock based compensation expense of
102,739, 98,302 and 631,462 for the three months
ended march 31, 2007, march 31, 2006 and for the
cumulative period from august 6, 2001 (inception) to
march 31, 2007, respectively)																																																																												19,632,804		19,632,804
232,471, 213,610 and 1,379,247 for the three months
see accompanying notes to unaudited condensed consolidated financial statements.

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-05-10	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31

assets
current assets:
cash and cash equivalents	442,209,000	79,148,000	74,081,000	129,126,000	132,139,000	179,894,000	195,822,000	82,910,000	75,477,000	92,933,000	150,902,000	97,009,000	61,469,000	102,304,000	109,860,000	147,073,000	185,676,000	298,887,000	326,512,000	401,707,000	471,514,000	553,439,000	254,154,000	260,512,000	52,051,000	112,637,000	44,675,000	57,228,000	64,349,000	64,349,000	41,958,000	70,718,000	105,672,000	82,896,000	56,717,847	91,842,167	77,602,363	95,637,572	25,031,280	29,156,521	28,577,832	36,478,420	55,061,329	65,461,940	60,300,086	86,004,445	55,713,784	53,225,799	37,077,977	49,596,327	40,485,466	50,183,397	13,416,952	15,188,167	16,455,995	17,373,866	20,367,079	20,923,750	212,280	492,508	591,316	1,075,966	1,572,031	2,017,280	35,664	576,354	1,133,124	649,686	2,032,655	4,790,589	8,689,792
short-term investment securities	72,221,000	62,822,000	57,501,000	122,744,000	144,101,000	131,106,000	145,219,000	134,342,000	134,308,000	124,575,000	78,257,000	47,896,000	78,241,000	59,374,000	66,082,000	48,636,000	47,525,000	15,876,000	30,338,000	41,752,000	52,334,000	51,987,000		15,058,000	26,284,000	27,798,000	27,776,000	27,748,000	28,125,000	28,125,000	26,848,000	27,024,000	20,573,000	26,181,000	27,998,810		8,808,930	13,823,332	19,853,860	31,445,616	25,680,319	22,224,258	22,166,512	28,701,209	31,765,910	19,131,437	23,062,034	14,009,644	7,959,652	3,901,783
accounts receivable	392,046,000	305,628,000	265,384,000	231,516,000	190,121,000	129,185,000	115,727,000	83,608,000	64,982,000	51,093,000	39,320,000	17,484,000	8,623,000			88,000	903,000	1,389,000	1,384,000	931,000	771,000
inventories	129,029,000	125,586,000	146,953,000	155,202,000	157,759,000	110,458,000	84,669,000	81,243,000	77,719,000	39,823,000	33,553,000	30,234,000	27,221,000
other current assets	51,464,000	57,580,000	55,846,000	25,374,000	20,390,000	15,716,000	32,632,000			5,336,000	12,081,000	11,088,000	4,458,000	2,359,000	2,954,000	3,136,000	4,020,000	2,884,000	2,502,000	2,950,000	4,804,000	1,083,000	641,000	1,536,000	1,944,000	611,000	864,000	987,000	1,464,000	1,464,000	439,000	526,000	816,000	978,000	436,789	796,283	927,657	1,057,715	216,397	500,564	649,738	730,523	308,327	457,918	548,776	701,862	173,952	258,721	197,855	359,885	47,804	118,437	136,712	225,440	29,128	64,652	89,488	79,030	100,759	116,826	65,807	147,435	157,706	119,704
total current assets	1,086,969,000	630,764,000	599,765,000	663,962,000	644,510,000	566,359,000	574,069,000	389,150,000	360,581,000	317,943,000	319,114,000	208,574,000	184,783,000	168,274,000	182,922,000	202,560,000	242,216,000	330,965,000	371,779,000	455,068,000	535,013,000	611,740,000	260,335,000	280,938,000	88,016,000	149,151,000	80,355,000	94,441,000	105,058,000	105,058,000	79,031,000	109,737,000	136,038,000	116,958,000	93,317,400	97,661,296	97,044,477	118,963,818	50,864,144	71,332,374	69,551,680	70,576,744	86,873,331	104,730,487	103,727,043	115,738,341	85,215,029	76,665,848	49,286,908	56,288,114	42,303,263	50,613,334	14,168,995	17,788,745	18,475,882	19,158,346	20,456,567	21,002,780	313,039	609,334	901,602	1,267,661	1,826,233	2,285,717	111,086	711,894	1,366,669	865,538	2,234,816	5,143,246	9,191,884
restricted cash	1,352,000	1,342,000	1,329,000	1,316,000	1,302,000	1,298,000	1,295,000	1,292,000	1,289,000	1,285,000	1,282,000	1,279,000	1,276,000	1,273,000	1,269,000	1,266,000	1,265,000	1,264,000	1,263,000	1,261,000	1,260,000	1,259,000	1,257,000	1,255,000	1,252,000	1,251,000	1,248,000	1,246,000	1,244,000	1,244,000	1,241,000	1,239,000	1,237,000	588,000	587,291	586,259	585,229	584,213	583,208	582,184	581,161	580,151	579,143	578,126	577,110	576,072	575,012
long-term investment securities	61,538,000	59,136,000	48,757,000	28,590,000	1,907,000	808,000	1,125,000	947,000	1,320,000					12,404,000	21,766,000	36,078,000	47,472,000	35,533,000	24,550,000	12,757,000																					21,435,015	26,458,226	25,003,032	21,088,192	18,311,340				6,110,309	1,001,858	4,918,897
right of use assets	6,481,000	6,278,000	6,501,000	6,718,000	6,927,000	7,151,000	7,411,000	7,663,000	7,906,000	8,050,000	8,271,000	8,475,000	8,689,000	8,888,000	9,079,000	8,783,000	8,964,000	8,629,000	8,804,000	8,973,000	9,141,000	9,312,000
deferred tax assets	344,136,000	348,000,000	366,627,000
non-current inventories	26,346,000
other noncurrent assets	2,015,000	2,044,000	2,045,000	2,027,000	2,042,000	2,074,000	2,114,000	2,155,000
total assets	1,528,837,000	1,063,253,000	1,025,024,000	702,613,000	656,689,000	577,690,000	586,014,000	401,207,000	373,323,000	329,587,000	331,067,000	220,854,000	197,358,000	193,572,000	217,891,000	251,666,000	303,028,000	379,629,000	409,687,000	481,400,000	548,699,000	625,642,000	273,856,000	294,621,000	101,849,000	163,014,000	93,327,000	106,585,000	117,538,000	117,538,000	83,616,000	114,374,000	140,715,000	120,994,000	97,381,536	101,781,514	101,197,751	123,256,432	54,781,547	75,687,094	94,797,540	100,062,519	113,473,201	127,407,138	123,605,281	117,269,251	86,746,890	77,544,253	56,302,299	58,173,955	48,112,390	54,299,275	17,858,571	21,386,785	22,074,037	25,231,218	26,529,557	27,074,371	18,064,479	18,361,010	18,653,689	19,034,882	19,593,714	20,081,864	204,900	973,340	1,487,416	980,577	2,357,794	5,276,656	9,336,522
liabilities and stockholders’ equity
current liabilities:
accounts payable and accrued expenses	148,845,000	107,508,000	112,336,000	134,021,000	133,932,000	58,296,000	101,407,000	93,472,000	87,266,000	38,471,000	39,741,000	62,945,000	57,092,000	42,019,000	29,726,000	37,224,000	49,668,000	51,294,000	44,702,000	40,228,000	42,837,000	37,014,000	34,659,000	29,670,000	30,903,000	30,041,000	31,780,000	31,498,000	40,199,000	40,199,000	36,377,000	37,917,000	35,394,000	32,513,000	25,877,218	18,179,772	19,556,942	18,916,064	15,267,668	15,550,129	13,080,176	8,139,440	9,346,068	8,583,003	8,254,189	8,880,438	3,991,625	7,967,548	1,899,389	1,639,114	4,764,502	4,325,313	2,247,518	1,387,882	1,117,397			467,524	167,719	207,649	183,280	395,817	373,795	302,728
other current liabilities	596,000	2,124,000	1,993,000	2,256,000	2,947,000	4,627,000	3,298,000	4,162,000	4,064,000	1,631,000	1,217,000	1,569,000	1,221,000	1,169,000	807,000	1,740,000	1,873,000	1,512,000	12,628,000	14,151,000	14,460,000	18,236,000	21,735,000	25,572,000	29,245,000	48,994,000	44,035,000	21,478,000	18,626,000	18,626,000
lease liability – current portion	1,822,000	1,044,000	1,068,000	1,091,000	1,116,000	1,157,000	1,231,000	1,306,000	1,383,000	1,446,000	1,479,000	1,512,000	1,546,000	1,581,000	1,616,000	1,480,000	1,492,000	1,437,000	1,468,000	1,500,000	1,533,000	1,669,000	1,614,000	1,655,000	1,602,000	1,616,000	1,365,000	1,283,000	1,261,000	1,261,000
deferred revenue - current portion	17,190,000	21,234,000	26,399,000	23,911,000	17,079,000	11,414,000	9,093,000	3,373,000	3,373,000		6,903,000
accrued compensation	18,655,000	21,850,000	15,014,000	10,610,000	5,135,000	15,185,000	10,085,000	6,351,000	3,598,000	12,172,000	8,338,000	6,641,000	3,217,000	8,432,000	4,298,000	2,882,000	1,623,000	10,166,000	12,858,000	8,514,000	3,537,000	8,456,000	5,072,000	3,440,000	1,368,000	3,798,000	3,017,000	1,708,000	854,000	854,000	2,258,000	2,082,000	1,182,000	456,000	1,800,000	1,275,305	896,805	483,555	1,389,516	1,061,626	796,376	449,126	818,472	768,750	506,000	248,000	702,000	599,083	395,500	197,250	532,500	350,000	232,750	115,500	145,000
total current liabilities	187,108,000	153,760,000	156,810,000	171,889,000	160,209,000	90,679,000	125,114,000	108,664,000	99,684,000	53,720,000	57,678,000	72,667,000	63,076,000	53,201,000	36,447,000	43,326,000	54,656,000	65,384,000	87,655,000	87,551,000	92,494,000	87,554,000	77,670,000	67,537,000	63,118,000	84,449,000	80,197,000	55,967,000	60,940,000	60,940,000	38,854,000	40,242,000	36,938,000	33,345,000	27,957,213	19,789,614	20,758,696	19,726,657	16,878,440	16,881,262	14,119,497	8,893,864	10,528,470	9,685,802	9,207,930	9,553,025	5,121,196	8,902,156	2,606,484	1,988,745	6,317,178	5,678,223	3,466,256	2,472,962	2,216,067	2,957,518	2,349,047	1,222,095	1,515,086	3,782,728	3,351,788	4,207,716	4,928,252	7,202,959	2,013,626	1,467,092			1,791,146
deferred revenue, non-current portion	6,863,000	8,807,000	8,348,000	1,667,000	6,598,000	12,085,000	16,166,000	3,743,000	3,244,000		190,000
loan payable – non-current	745,140,000	245,645,000	245,340,000	245,037,000	244,733,000		244,158,000	102,537,000	101,326,000		98,908,000	97,700,000	96,503,000	71,135,000	70,038,000	68,947,000	67,249,000	66,788,000
lease liability – non-current	6,595,000	7,021,000	7,308,000	7,588,000	7,860,000	8,133,000	8,419,000	8,695,000	8,960,000	9,231,000	9,522,000	9,805,000	10,079,000	10,344,000	10,582,000	9,977,000	10,318,000	9,847,000	10,020,000	10,186,000	10,349,000	10,412,000	9,806,000	9,938,000	10,159,000
total liabilities	945,706,000	415,233,000	417,806,000	426,181,000	419,400,000	355,326,000	393,857,000	223,639,000	213,214,000	169,085,000	166,298,000	180,401,000	169,925,000	134,985,000	117,410,000	122,631,000	132,642,000	142,476,000	98,170,000	98,270,000	103,414,000	106,292,000	103,198,000	100,394,000	103,202,000	124,399,000	119,118,000	93,380,000	98,284,000	98,284,000	59,580,000	42,630,000	39,339,000	35,762,000	30,388,481	22,235,748	23,222,733	22,214,673	18,913,745	18,932,373	16,096,455	10,616,751	11,899,899	11,095,326	10,655,549	11,038,739	6,645,006	10,464,061	4,206,484	3,742,394	8,057,898	9,661,555	7,583,453	6,687,698	6,523,736	7,337,918	6,744,147	5,886,792	18,359,097	20,510,557	19,956,829	24,770,122	25,375,831	27,599,378	4,962,802	4,420,322	1,786,438	1,871,662		2,530,255	2,192,910
commitments and contingencies
stockholders’ equity:
common stock, 0.001 par value per share...	160,000	159,000	159,000	159,000	159,000	156,000	156,000	155,000	155,000	151,000	151,000	151,000	149,000	146,000	145,000	145,000	145,000	143,000	143,000	143,000	142,000	141,000	129,000	127,000	110,000	109,000	97,000	93,000	89,000	89,000	84,000	83,000	82,000	77,000	73,182	70,694	68,127	66,817	56,820	54,766	54,498	54,119	54,095	52,558	51,698	47,472	44,974	41,481	38,162	37,526	34,336	33,414	26,735	26,323	25,821	20,059	18,054	5,061
additional paid-in capital	1,845,435,000	1,830,110,000	1,812,345,000	1,794,212,000	1,776,381,000	1,760,396,000	1,746,909,000	1,734,052,000	1,685,256,000	1,674,946,000	1,664,797,000	1,654,411,000	1,593,783,000	1,585,708,000	1,574,609,000	1,567,345,000	1,568,186,000	1,565,942,000	1,546,967,000	1,532,943,000	1,516,602,000	1,500,040,000	1,063,142,000	999,549,000	751,103,000	739,956,000	635,989,000	613,059,000	582,900,000	582,900,000	552,531,000	546,380,000	542,062,000	481,781,000	422,017,042	403,712,474	370,608,641	365,323,608	272,432,139	269,646,963	266,762,568	261,608,568	259,887,464	257,015,699	239,998,563	216,180,386	175,476,521	143,661,893	111,229,666	101,579,618	79,658,490	78,428,989	39,516,871	37,356,700	34,534,805	24,817,526	24,001,440	22,841,334	60,693,779	58,291,913	56,028,583	55,802,925	55,797,295	55,919,120	54,566,421	54,483,025	56,188,898	54,037,361	53,590,920	53,101,402	52,604,353
treasury stock	-200,226,000	-100,234,000	-100,234,000	-21,992,000	-15,117,000	-8,994,000	-2,383,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,000	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-234,337	-84,538	-84,538	-84,538	-84,538
accumulated deficit	-1,062,238,000	-1,082,015,000	-1,105,052,000	-1,495,947,000	-1,524,134,000	-1,529,194,000	-1,552,525,000	-1,556,405,000	-1,525,068,000	-1,514,361,000	-1,499,945,000	-1,613,875,000	-1,566,265,000	-1,527,033,000	-1,474,039,000	-1,438,221,000	-1,397,711,000	-1,328,698,000	-1,235,359,000	-1,149,722,000	-1,071,225,000	-980,597,000	-892,379,000	-805,215,000	-752,332,000	-701,216,000	-661,643,000	-599,713,000	-563,501,000	-563,501,000	-528,345,000	-474,485,000	-440,534,000	-396,392,000	-354,862,832	-324,003,065	-292,467,413	-264,114,329	-236,386,820	-212,712,677	-187,881,650	-171,982,588	-158,133,926	-140,522,114	-126,866,198	-109,763,015	-95,185,280	-76,388,851	-58,937,682
total stockholders’ equity	583,131,000	648,020,000	607,218,000	276,432,000	237,289,000	222,364,000	192,157,000	177,568,000	160,109,000	160,502,000	164,769,000	40,453,000	27,433,000	58,587,000	100,481,000	129,035,000	170,386,000	237,153,000	311,517,000	383,130,000	445,285,000	519,350,000	170,658,000	194,227,000		38,615,000		13,205,000	19,254,000	19,254,000	24,036,000	71,744,000	101,376,000	85,232,000	66,993,055	79,545,766	77,975,018	101,041,759	35,867,802	56,754,721	78,701,085	89,445,768	101,573,302	116,311,812																								-891,085	566,648	2,746,401	7,143,612
total liabilities and stockholders’ equity	1,528,837,000	1,063,253,000	1,025,024,000	702,613,000	656,689,000	577,690,000	586,014,000	401,207,000	373,323,000	329,587,000	331,067,000	220,854,000	197,358,000	193,572,000	217,891,000	251,666,000	303,028,000	379,629,000	409,687,000	481,400,000	548,699,000	625,642,000	273,856,000	294,621,000		163,014,000		106,585,000	117,538,000	117,538,000	83,616,000	114,374,000	140,715,000	120,994,000	97,381,536	101,781,514	101,197,751	123,256,432	54,781,547	75,687,094	94,797,540	100,062,519	113,473,201	127,407,138
long-term inventories		15,689,000
loan payable						244,429,000				100,118,000
prepaid research and development and other current assets								7,047,000	8,095,000
leasehold interest									1,362,000	1,415,000	1,468,000	1,521,000	1,574,000	1,627,000	1,680,000	1,733,000	1,786,000	1,839,000	1,892,000	1,945,000	1,998,000	2,051,000	2,104,000	2,157,000	2,168,000	2,129,000	2,157,000	2,203,000	2,249,000	2,249,000	2,294,000	2,331,000	2,376,000	2,397,000	2,429,434	2,466,202	2,479,349	2,491,211	2,042,281	2,517,771	1,968,734
equipment									66,000	95,000	133,000	206,000	237,000	307,000	376,000	447,000	526,000	600,000	600,000	597,000	488,000	481,000	378,000	331,000	320,000	282,000	275,000	237,000	241,000	241,000	251,000	268,000	265,000	252,000	248,020	268,366	289,305	307,732	328,148	327,674					34,833	24,821	20,357	7,763	7,326	8,177	5,718	3,829	2,527	1,049	1,164	1,281	1,399
goodwill									799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,000	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	799,391	629,752	629,752	629,752
prepaid research and development										4,183,000	5,001,000	4,863,000	4,771,000	4,237,000	4,026,000	3,627,000	4,092,000	11,929,000	11,043,000	7,728,000	5,590,000	5,231,000	5,540,000	3,832,000	7,737,000	8,105,000	7,040,000	8,478,000	11,120,000	11,120,000	9,691,000	11,389,000	8,890,000	6,824,000	8,055,486	5,022,846	9,662,237	8,422,375	5,678,755	10,121,215	14,510,025	10,979,437	9,151,142	9,950,893	10,921,958	9,810,887	6,179,743	9,117,863	3,976,742	2,418,995	1,742,824	311,500	615,331	2,375,138	1,990,759	1,719,828
deferred revenue										6,016,000
																									2,020,000
deferred revenue, net of current portion												229,000	267,000	305,000	343,000	381,000	419,000	457,000	495,000	533,000	571,000	610,000	648,000	686,000	724,000	762,000	800,000	838,000	876,000	876,000	914,000	952,000	990,000	1,029,000	1,066,667	1,104,762	1,142,857	1,180,953	1,219,048	1,257,143	1,295,238	1,333,333	1,371,429	1,409,524	1,447,619	1,485,714	1,523,810	1,561,905	1,600,000	1,638,095	1,676,191	1,714,286	1,752,381	1,790,476	1,828,571
loan payable – current portion																		975,000	15,999,000	23,158,000	30,127,000	22,179,000	14,590,000	7,200,000
preferred stock, 0.001 par value per share...																																																										1,109
long-term debt																						7,716,000	15,074,000	22,233,000	29,201,000	28,970,000	28,741,000	28,513,000	28,286,000	28,286,000
right-of-use-assets																							8,983,000	9,141,000
right of use asset																									9,294,000	9,402,000	8,493,000	7,659,000	7,947,000	7,947,000
liabilities and stockholders’ (deficit) equity
stockholders’ (deficit) equity:
total stockholders’ (deficit) equity																									-1,353,000		-25,791,000
total liabilities and stockholders’ (deficit) equity																									101,849,000		93,327,000
license revenue																									38,000		38,000
costs and expenses:
research and development:
noncash compensation																									1,979,000		1,482,000
other research and development																									34,043,000		56,503,000
total research and development																									36,022,000		57,985,000
general and administrative:
other general and administrative																									5,172,000		2,321,000
total general and administrative																									14,261,000		2,914,000
total costs and expenses																									50,283,000		60,899,000
operating income																									-50,245,000		-60,861,000																																-261,843	-322,906	-566,085	-515,631	-525,091	-529,445		-1,467,266
other income:
interest expense																									1,201,000		1,537,000																																1,165,078	428,210	289,598	349,562	351,215	236,777
other income																									-330,000		-468,000
total other income																									871,000		1,069,000																																289,896	2,659,633	-4,398,468	-556,878	-2,375,427	1,103,724		-45,054
net income																									-51,116,000		-61,930,000																																-551,739	-2,982,539	3,832,383	41,247	1,850,336	-1,633,169		-1,422,212
basic and diluted net income per common share																									-480		-690
weighted-average shares used for eps calculation																									105,461,892,000		89,667,979,000
deferred rent																															1,462,000	1,436,000	1,411,000	1,388,000	1,364,601	1,341,372	1,321,180	1,307,063	816,257	793,968	681,720	389,554
lease liability – non current																										10,218,000	9,380,000	8,062,000	8,182,000	8,182,000
long-term liabilities																															18,350,000
noncash stock expense associated with in–licensing agreements
interest receivable																															95,000	80,000	87,000	79,000	108,468		43,290	22,824	83,852	108,458	133,766	164,106	186,021	158,527	190,313	89,710	85,516	53,821	74,682	11,124	27,169
current portion of deferred revenue																															152,000	152,000	152,000	152,000	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381	152,381
notes payable																															67,000	91,000	210,000	224,000	127,614	182,156	152,568	174,657	68,875	117,126	90,564	152,917	211,549	181,668	295,360
other assets																																						110,067	164,375	127,700	127,700	173,841	171,182	141,717	155,564	130,626	137,101	71,251	98,365	76,415	85,121	85,121	90,058						7,750	7,750	7,750	21,370	21,370	21,370	79,625	84,126	84,126	70,506	70,506	70,506	70,506
contingently issuable shares																																								6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	15,890	15,890	15,890	15,890	15,890	15,890
property, plant and equipment																																									333,859	323,003	47,122	69,225
prepaid rent																																										1,151,163
4
liabilities and equity
equity:
total equity																																													112,949,732	106,230,512	80,101,884	67,080,192	52,095,815	54,431,561	40,054,492	44,637,720	10,275,118	14,699,087	15,550,301	17,893,300	19,785,410	21,187,579
total liabilities and equity																																													123,605,281	117,269,251	86,746,890	77,544,253	56,302,299	58,173,955	48,112,390	54,299,275	17,858,571	21,386,785	22,074,037	25,231,218	26,529,557	27,074,371
notes payable, current portion																																														272,206	275,190	183,144	159,214		677,778	677,778	677,778	677,778	677,778	677,778	677,778	677,778			2,309,647	2,036,645	2,012,720
interest payable																																																			190,017	172,751	155,829	139,421
notes payable, less current portion, at fair value																																																		115,554	64,529	2,269,046	2,364,816	2,424,260	2,479,098
deficit accumulated in the development stage																																																		-46,951,252	-39,404,003			-22,599,404	-18,925,793
in-process research and development																																																				2,797,600	2,797,600	2,797,600	2,797,600	5,441,839	5,441,839	5,441,839	17,742,110	17,742,110	17,742,110	17,742,110	17,742,110	17,742,110
deficit accumulated in development stage																																																				-33,740,151	-29,183,956			-15,466,056	-13,003,817	-11,109,164
interest payable, current portion																																																							123,511	107,569	91,944	76,793			565,879	415,256	351,574	290,439
total stockholder’s equity																																																							15,550,301
non-controlling interest in subsidiary																																																										9,449,233
accounts payable - related party																																																								1,799,424	1,257,600
other accounts payable and accrued expenses																																																								372,747	321,725
notes payable, noncurrent portion, at fair value																																																								4,380,400	4,395,100	4,664,697
tg therapeutics, inc. and subsidiaries:
total tg therapeutics, inc. and subsidiaries equity																																																								9,371,535	11,015,683	11,738,346
noncontrolling interest in subsidiary																																																								8,521,765	8,769,727
tg therapeutics, inc. and subsidiaries
grant receivable																																																													244,479
debt issue costs																																																																29,922
property and equipment																																																											1,580	1,816	2,227	3,741	4,001	2,745	11,920	34,912	36,621	44,533	52,472	62,904	74,132
liabilities and stockholders' deficiency
notes payable, current portion, net of discount																																																											761,314	775,290
interest payable, current portion, net of beneficial conversion																																																											47,223	160,061
derivative liability																																																											538,830	2,639,728	292,982	1,359,998	2,190,163	4,620,998
notes payable, noncurrent portion, net of discount																																																											16,388,797	16,475,433
interest payable, noncurrent portion																																																											455,214	252,396	49,578	433,537	240,377
exchange obligation																																																														3,949,176	3,949,176	3,949,176	2,949,176	2,953,230
stockholders’ deficiency:
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at september 30, 2011 and december 31, 2010
common stock																																																											7,398	2,596	129,794	120,966	120,966	114,080		70,624		70,624	70,624	70,474
deficit accumulated during the development stage																																																											-61,011,685	-60,459,946	-57,477,407	-61,675,021	-61,716,268	-63,566,604	-59,394,947	-58,000,631	-56,558,544	-54,999,070	-53,094,896	-50,425,475	-45,531,075
total stockholders’ deficiency																																																											-294,618	-2,149,547	-1,303,140	-5,735,240	-5,782,117	-7,517,514	-4,757,902	-3,446,982	-299,022
total liabilities and stockholders' deficiency																																																											18,064,479	18,361,010	18,653,689	19,034,882	19,593,714	20,081,864	204,900	973,340	1,487,416
revenue
research and development																																																											95,897	90,218	355,177	236,734	50,999	17,767		565,728
general and administrative																																																											165,946	232,688	210,908	278,897	474,092	511,678		901,538
in-process research and development charge
impairment of intangible assets
loss on disposition of intangible assets
total operating expenses																																																											261,843	322,906	566,085	515,631	525,091	529,445		1,467,266
equity in losses of hedrin jv
change in fair value of derivative liability																																																											-2,100,898	2,231,746	-170,435	-830,165
interest and other income																																																											-196	-323	-143	-76,275	-76,716	-75,314		-132,772
loss on early extinguishment of debt																																																											1,225,912				159,070
realized gain on sale of marketable equity securities
preferred stock dividends
net income applicable to common shares																																																											-551,739	-2,982,539	3,832,383	41,247	1,850,336	-1,633,169		-1,422,212
net income per common share:
basic and diluted																																																											-0.16	-1.15	0.03	120,965,244	0.02	-0.02		-0.02
weighted-average shares of common stock outstanding:
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at june 30, 2011 and december 31, 2010
gain on nordic settlement																																																													-4,517,488
notes payable, noncurrent portion																																																													16,555,463	16,179,693	16,258,026
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at march 31, 2011 and december 31, 2010
debt issue costs, current portion																																																														44,260	96,496	148,733
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at september 30, 2010 and december 31, 2009
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at june 30, 2010 and december 31, 2009
change in fair value of derivative																																																															-2,808,996	942,261
secured 12% notes payable, current portion																																																																1,655,461
8% note payable
icon note payable, current portion																																																																333,333
convertible 5% notes payable																																																																15,452,793
secured 12% notes payable, non-current portion
convertible 12% note payable																																																																42,466
icon convertible note payable, non-current portion																																																																666,667
non-interest bearing note payable																																																																216,900
interest payable, non-current portion																																																																68,417
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at march 31, 2010 and december 31, 2009
prepaid expenses and other current assets																																																																	75,422	135,540
investment in hedrin jv																																																																	2,269	142,408
liabilities and stockholders’ deficiency
secured 10% notes payable																																																																	70,000
accounts payable																																																																	705,323	617,346	986,223	1,279,485	852,490	1,001,849	1,523,663
accrued expenses																																																																	1,238,303	849,746	800,215	592,177	938,656	1,528,406	669,247
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued
and outstanding at september 30, 2008 and december 31, 2007
shares issued and outstanding at september 30, 2008 and december 31, 2007																																																																	70,624
see accompanying notes to condensed consolidated financial statements.
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at june 30, 2008 and december 31, 2007
equity in loss of hedrin jv																																																																		87,718
prepaid expenses																																																																			233,545	215,852	202,161	352,657	252,092
and outstanding at march 31, 2008 and december 31, 2007
shares issued and outstanding at march 31, 2008 and december 31, 2007																																																																			70,624
stockholders’ equity
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at december 31, 2007 and 2006
total liabilities and stockholders' equity																																																																				980,577	2,357,794	5,276,656	9,336,522
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at september 30, 2007 and december 31, 2006, respectively
preferred stock, .001 par value. authorized 1,500,000 shares; no shares issued and outstanding at june 30, 2007 and december 31, 2006
subscription receivable																																																																							250,000
preferred stock, .001 par value. authorized 1,500,000 shares;
no shares issued and outstanidng at march 31, 2007
and december 31, 2006, respectively
70,333,316 and 60,120,038 shares issued and outstanding
at march 31, 2007 and december 31, 2006, respectively																																																																							70,334
see accompanying notes to unaudited condensed consolidated financial statements.

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-05-10	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-08-06	2007-03-31

cash flows from operating activities
net income	19,777,000	23,037,000	390,895,000	28,187,000	5,060,000	23,331,000				-14,416,000																				-35,156,000																													-551,739	-2,982,539	3,832,383	365,231					-1,392,439	-761,844
adjustments to reconcile net loss to net cash from operating activities:
loss on extinguishment of debt	9,153,000					0
stock-based compensation	19,950,000
depreciation and amortization	32,000	21,000	17,000	13,000	8,000	9,000	11,000	19,000	29,000	38,000	73,000	32,000	68,000	73,000	76,000	78,000	76,000	80,000	76,000	67,000	59,000	53,000	41,000	34,000	30,000
amortization of premium (discount) on investment securities	-367,000		-786,000	-1,283,000	-1,336,000		-1,817,000	-1,800,000	-1,670,000	-1,532,000	-217,000	-186,000	-301,000	-159,000
amortization of debt issuance costs	285,000	304,000	304,000	304,000	304,000	303,000	414,000	639,000	639,000	639,000	639,000	639,000	461,000	461,000	461,000	461,000	461,000	386,000	231,000	232,000	231,000	231,000	231,000	232,000	231,000	233,000	231,000	231,000	77,000	77,000
amortization of leasehold interest	48,000	46,000	45,000	46,000	48,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	53,000	56,000	54,000	45,000
deferred income taxes	3,864,000	18,627,000
noncash change in lease liability and right of use asset	573,000	432,000	431,000	432,000	453,000	498,000	497,000	498,000	407,000	490,000	483,000	499,000	491,000	510,000	1,191,000	331,000	683,000	474,000	473,000	470,000	479,000
change in fair value of equity investments	-1,534,000	433,000	-420,000	181,000	104,000	501,000	75,000	373,000	-195,000
change in fair value of notes payable	88,000	-136,000	14,000	-64,000	213,000	153,000	127,000	59,000	-35,000	184,000	-332,000	202,000	59,000	125,000	35,000	-98,000	-178,000	-263,000	-94,000	-163,000	-58,000	462,000	134,000	172,000	-20,000							-119,000				29,588					-31,752	-58,632	36,805	-113,692	23,154	-2,984	92,046	23,930				-95,770
changes in assets and liabilities:
increase in inventory	-13,275,000	563,000	8,695,000	3,595,000	-46,305,000	-24,820,000	-2,540,000	-2,560,000	-36,931,000			-1,972,000	-26,924,000
decrease in other current assets	10,661,000			-5,260,000	-4,627,000			1,050,000	1,490,000	7,534,000	-1,049,000	-6,693,000	-2,623,000	339,000	-212,000	1,295,000	6,759,000	-1,253,000	-2,834,000			-135,000	-813,000								1,783,000				-2,813,048												3,022,889	-5,201,987			-1,360,692	322,107	1,848,534	-580,691			-10,460	8,147
increase in accounts receivable	-86,418,000	-40,244,000	-33,868,000	-41,395,000	-60,936,000		-32,119,000	-18,626,000	-13,889,000									-5,000	-453,000	-160,000	-771,000
increase in income taxes payable	-6,718,000
increase in accounts payable and accrued expenses	34,016,000	2,008,000	-17,280,000	5,565,000	65,585,000	-38,012,000	11,669,000	8,959,000	40,222,000			9,278,000	9,858,000	16,426,000	-6,081,000	-11,185,000	-10,170,000	3,901,000	8,819,000	2,367,000	904,000	5,738,000			-1,567,000	-958,000			2,240,000	2,240,000	-1,364,000	3,423,000	3,606,000	5,292,000	8,353,870	-401,751	516,189	2,551,726	45,429	2,735,203	5,287,986	-1,575,974	812,787	639,361	-416,046	4,434,813	-3,873,006	6,271,742	886,340	-3,888,453	621,689	2,195,045	976,886	240,985				-254,604
decrease in lease liabilities	-424,000	-519,000	-519,000	-518,000	-543,000	-598,000	-597,000	-597,000	-596,000	-595,000	-593,000	-594,000	-593,000	-591,000	-746,000	-503,000	-492,000	-505,000	-501,000	-499,000	-507,000		1,076,000	-469,000	-1,967,000
decrease in other current liabilities	-1,617,000																												-559,000	-559,000
increase in deferred revenue	-5,988,000	-4,706,000	9,169,000	1,787,000	140,000	-1,761,000	18,144,000	498,000	602,000	-926,000																																								-38,095	-38,095	-38,096	-38,095	-38,095
net cash from operating activities	-17,894,000	19,660,000	-23,153,000	7,436,000	-28,715,000	-25,641,000	-12,205,000	5,536,000	-8,207,000	-13,210,000	83,704,000	-42,005,000	-59,902,000	-23,870,000	-34,495,000	-49,116,000	-68,689,000	-86,909,000	-67,201,000	-60,169,000	-81,355,000	-52,026,000	-56,532,000	-43,834,000	-62,115,000	-30,393,000			-33,351,000	-33,351,000	-33,690,000	-33,009,000	-34,183,000	-28,043,000	-21,855,129	-22,776,473	-26,829,596	-22,302,364	-17,025,067	-15,042,201	-12,850,521	-16,673,541	-12,900,661	-10,658,732	-12,248,526	-8,882,353	-15,106,938	-8,050,975	-3,573,115	-8,328,891	-4,909,154	-1,153,970	-2,556,359	-2,204,748	-833,332	-2,993,213	-499,785	-861,634	-280,228	-98,808	212,648	-541,743	-410,811	-604,827	-327,147	-140,927	64,072	-645,797	-919,783	-620,256	-1,442,345	-1,461,625	-1,382,970	-2,755,966	-3,909,685	-2,181,090
capital expenditures	-51,000	-67,000	-80,000	-42,000	-25,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-175,000	-67,000	-155,000	-89,000	-45,000	-68,000	-34,000			-14,000	-14,000	0	0	-34,000	-24,000	0	0	0	0	-20,970	0	-27,795	-282,261	16,977	0	-13,397	-6,883	-14,072	-1,333	0	-3,165	0	-1,627	0		0	0	0	0	0	0	0	0	0	0	0	0	0	0	-1	0	0		1	0	-2,868	-6,267
free cash flows	-17,945,000	19,593,000	-23,233,000	7,394,000	-28,740,000	-25,641,000	-12,205,000	5,536,000	-8,207,000	-13,210,000	83,704,000	-42,005,000	-59,902,000	-23,870,000	-34,495,000	-49,116,000	-68,689,000	-86,909,000	-67,201,000	-60,344,000	-81,422,000	-52,181,000	-56,621,000	-43,879,000	-62,183,000	-30,427,000			-33,365,000	-33,365,000	-33,690,000	-33,009,000	-34,217,000	-28,067,000	-21,855,129	-22,776,473	-26,829,596	-22,302,364	-17,046,037	-15,042,201	-12,878,316	-16,955,802	-12,883,684	-10,658,732	-12,261,923	-8,889,236	-15,121,010	-8,052,308	-3,573,115	-8,332,056	-4,909,154	-1,155,597	-2,556,359		-833,332	-2,993,213	-499,785	-861,634	-280,228	-98,808	212,648	-541,743	-410,811	-604,827	-327,147	-140,927	64,072	-645,797	-919,784	-620,256	-1,442,345		-1,382,969	-2,755,966	-3,912,553	-2,187,357
cash flows from investing activities
proceeds from maturity of held-to-maturity securities	11,250,000	30,000,000	77,750,000
investment in held-to-maturity securities	-21,063,000	-45,571,000	-31,307,000	-53,300,000	-92,059,000	-57,891,000	-101,360,000	-69,734,000	-81,531,000	-68,433,000	-56,279,000	0	-22,168,000	-3,998,000	-31,466,000	-14,921,000	-56,889,000	-12,232,000	-11,802,000	-14,050,000	-17,447,000	-59,921,000	0	0	-7,482,000				-8,171,000	-8,171,000	-6,656,000	-17,609,000	-2,781,000	-4,184,000					0	0	-4,558,652	-10,641,270	-8,038,515
purchases of equity investments
purchases of property, plant and equipment	-51,000	-67,000	-80,000	-42,000	-25,000																															0					-27,795	-282,261	16,977									-1,627			0	0
net cash from investing activities	-9,864,000	-15,638,000	46,363,000	-3,992,000	-12,934,000	15,788,000	-9,334,000	1,765,000	-9,255,000	-44,755,000	-30,229,000	30,501,000	-6,168,000	16,269,000	-2,990,000	10,379,000	-43,671,000	3,288,000	-631,000	-2,475,000	-514,000	-52,076,000	14,911,000	11,205,000	1,450,000	4,000			-1,135,000	-1,135,000	238,000	-6,435,000	5,585,000	1,792,000	-28,006,270	8,800,000	4,997,773	6,000,000	11,479,030	15,576,260	1,413,553	-1,923,531	2,478,462	76,574	-31,084,022	3,843,117	-9,132,783	-1,333	-9,218,008	-3,165	-4,922,253	-1,627			0	0						0	-2,844	519,365					-1	13,620	-8,972	-13,620	1	0	-2,868	-6,267
cash flows from financing activities
payment of loan payable	-255,000,000					0								0	0	0	-975,000	-15,410,000	-7,390,000
proceeds from exercise of options	763,000	1,058,000	0	432,000	21,000	570,000	199,000	135,000	10,000	0	420,000	751,000	363,000	49,000	275,000	135,000	125,000	0	50,000	38,000	128,000	12,000	39,000	15,000	81,000
proceeds from debt financings, net of debt discount costs	747,656,000
financing costs paid	-2,598,000					-31,000				0	0	0	-125,000													-315,000			-538,000	-538,000
purchase of treasury stock	-99,992,000	0	-78,242,000	-6,875,000	-6,123,000	-6,611,000
net cash from financing activities	390,829,000	1,058,000	-78,242,000	-6,443,000	-6,102,000	-6,072,000	134,454,000	135,000	10,000	-1,000	421,000	47,047,000	25,238,000	49,000	275,000	135,000	-850,000	55,997,000	-7,361,000	-7,162,000	-55,000	403,389,000	35,265,000	241,092,000	81,000	98,354,000	20,695,000	28,284,000	56,880,000	56,880,000	4,694,000	4,492,000	52,023,000	52,430,000	14,737,079	28,216,277	3,796,614	86,908,656	1,420,796	44,630	3,536,380	14,163	21,588	15,744,012	17,628,189	35,329,897	26,727,706	24,200,130	272,773	17,442,917	133,476	37,922,042	786,816	936,920	-84,539	0	-55,487	12,036,893	0	0	-100,000	-55,555	-31,594	2,084,746	191,502	0	0	770,270	990,143	65,946	894,547	1,958,683	0	-1,968	13,350	7,848,031
net increase in cash, cash equivalents and restricted cash	363,071,000	5,080,000				-15,925,000							-40,832,000					-27,624,000	-75,193,000			299,287,000	-6,356,000	208,463,000	-60,584,000	67,965,000	-12,551,000	-7,119,000	22,394,000	22,394,000	-28,758,000	-34,952,000	23,425,000	26,179,000
cash, cash equivalents and restricted cash at beginning of period	80,490,000	0	0	0	181,192,000	0	0	0	94,218,000	0	0	0	103,577,000	0	0	0	300,151,000	0	0	0	554,698,000		0	1,000	113,887,000		0	0	43,199,000	43,199,000		0	0	57,305,000
cash, cash equivalents and restricted cash at end of period	443,561,000	5,080,000	-55,032,000	-2,999,000	133,441,000	-15,925,000	112,915,000	7,436,000	76,766,000	-57,966,000	53,896,000	35,543,000	62,745,000	-7,552,000	-37,210,000	-38,602,000	186,941,000	-27,624,000	-75,193,000	-69,806,000	472,774,000		-6,356,000	208,464,000	53,303,000		-12,551,000	-7,119,000	65,593,000	65,593,000		-34,952,000	23,425,000	83,484,000
reconciliation to amounts on condensed consolidated balance sheets:
cash and cash equivalents	442,209,000	5,067,000	-55,045,000	-3,013,000	132,139,000	-15,928,000	112,912,000	7,433,000	75,477,000	-57,969,000	53,893,000	35,540,000	61,469,000	-7,556,000	-37,213,000	-38,603,000	185,676,000	-27,625,000	-75,195,000	-69,807,000	471,514,000	299,285,000	-6,358,000	208,461,000	52,051,000	67,962,000	-12,553,000	-7,121,000	64,349,000	64,349,000	-28,760,000	-34,954,000	22,776,000	82,896,000
restricted cash	1,352,000	13,000	13,000	14,000	1,302,000	3,000	3,000	3,000	1,289,000	3,000	3,000	3,000	1,276,000	4,000	3,000	1,000	1,265,000	1,000	2,000	1,000	1,260,000	2,000	2,000	3,000	1,252,000	3,000	2,000	2,000	1,244,000	1,244,000	2,000	2,000	649,000	588,000
total cash, cash equivalents and restricted cash	443,561,000	5,080,000	-55,032,000	-2,999,000	133,441,000	-15,925,000	112,915,000	7,436,000	76,766,000	-57,966,000	53,896,000	35,543,000	62,745,000	-7,552,000	-37,210,000	-38,602,000	186,941,000	-27,624,000	-75,193,000	-69,806,000	472,774,000	299,287,000	-6,356,000	208,464,000	53,303,000	67,965,000	-12,551,000	-7,119,000	65,593,000	65,593,000	-28,758,000	-34,952,000	23,425,000	83,484,000
cash paid for:
interest	2,385,000	5,910,000	6,099,000	6,097,000	6,143,000	6,422,000	7,112,000	2,488,000	2,448,000	2,433,000	2,409,000	2,180,000	1,749,000	1,537,000	1,286,000	1,038,000	1,584,000	768,000	604,000	1,325,000	769,000	1,054,000	1,892,000	778,000	777,000
income taxes	3,439,000	845,000	1,957,000
noncash transactions
reduction of lease liability and right-of-use asset due to lease modification	1,126,000
adjustments to reconcile net income to net cash from operating activities:
noncash stock compensation expense		15,651,000	17,686,000	16,361,000	14,972,000	11,948,000	11,773,000	9,481,000	9,339,000	9,385,000	9,184,000	12,541,000	6,823,000	11,051,000	6,988,000	-975,000	2,121,000	14,356,000	13,996,000	16,304,000	16,618,000	33,521,000	28,330,000				2,075,000	1,757,000	1,882,000	1,882,000	1,458,000	-173,000	4,264,000	7,337,000	3,569,978	4,890,123	1,489,728	5,995,455	1,328,599	2,834,038	1,648,397	1,698,965	2,857,044	1,240,034	6,242,986	5,357,028	5,038,436	4,096,572
amortization of discount on investment securities
change in inventory reserve
increase in other current assets		-1,911,000																			-4,107,000				-1,057,000																-3,449,803	-2,250,490		1,061,924	-957,985	-4,159,055				-988,252
increase in other current liabilities		266,000	-277,000	-515,000	-1,855,000	1,178,000	-795,000	611,000	3,035,000	651,000	701,000	704,000	619,000	874,000	-337,000	1,201,000	539,000										22,263,000
investment in equity investments		0	0
issuance of common stock											1,000
proceeds from debt financings						0				0	0	0	25,000,000													312,000	-4,000	-61,000	29,740,000	29,740,000
reconciliation to amounts on consolidated balance sheets:
deferred financing costs										0	0															0	0	-169,000	1,157,000	1,157,000
warrants issued with debt financing										0	0															0	0	0	993,000	993,000
net decrease in cash, cash equivalents and restricted cash				-2,999,000	-47,751,000			7,436,000	-17,452,000						-37,210,000	-38,602,000	-113,210,000				-81,924,000
proceeds from maturity of short-term securities					80,400,000	73,700,000	92,300,000	71,499,000	73,401,000	23,678,000	26,050,000	30,501,000	16,000,000	20,270,000	28,480,000	25,300,000	13,225,000	15,600,000	11,250,000	11,750,000	17,000,000	8,000,000	15,000,000	11,250,000	9,000,000	6,750,000	9,000,000	6,450,000	7,050,000	7,050,000	6,900,000	11,200,000	8,400,000	6,000,000	0	8,800,000	5,000,000	6,000,000	11,500,000	3,000,000	6,000,000	9,000,000	10,500,000	6,000,000	4,000,000	3,850,000
investment in long-term securities					-1,250,000	0	-250,000	0	-1,125,000
decrease in accounts receivable										-11,773,000	-21,836,000	-8,861,000	-8,623,000	0	88,000	814,000	487,000
purchases of ppe														-3,000	-4,000	0	-7,000	-80,000
proceeds from sale of common stock																						403,377,000	35,226,000			98,357,000	20,699,000	28,287,000	27,678,000	27,678,000	4,694,000	4,492,000	52,023,000	52,430,000	14,737,079	28,216,275	3,796,615	84,765,572	906,972	0			0	15,775,638	17,043,830	34,941,049	26,056,167	22,766,685	-427,815	17,219,223	0
net loss								6,879,000	-10,707,000			-47,609,000	-39,232,000	-52,994,000	-35,818,000	-40,510,000	-69,013,000	-93,338,000	-85,638,000	-78,497,000	-90,628,000	-88,218,000	-87,163,000						-35,156,000			-33,951,000	-44,142,000	-41,529,000		-31,535,652	-28,353,084	-27,727,509		-24,831,027	-15,899,062	-13,848,662																-17,396,538						-1,633,169	-222,913				127,019		-1,442,087	-1,559,474	-1,904,174			-2,564,257

decrease in accounts payable and accrued expenses																																																											-39,930	24,369	-40,236
decrease in deferred revenue												-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,000			-38,000	-38,000	-38,000	-38,000	-38,000	-38,000	-38,095	-38,095	-38,096	-38,095	-38,095	-38,095	-38,095	-38,096	-38,095	-38,095	-38,096	-38,095	-38,095	-38,095
offering costs paid																			-21,000	0	-183,000																																		0	0	-55,487	-20,416
amortization of premium on investment securities																-40,000	23,000	96,000	139,000	155,000	127,000	45,000	-6,000	-25,000	-44,000	-48,000			-75,000	-75,000	-68,000	-42,000	-11,000	2,000	7,460	8,930	14,402	30,528	91,756	113,541	125,803	128,329	158,372	172,361	124,812	80,597	66,321	60,317
shares issued in connection with in-licensing agreement
shares issued in connection with in-licensing																										0
decrease in other liabilities																				-146,000	-3,717,000				-18,898,000
purchases of equipment																				-175,000	-67,000	-155,000	-89,000	-45,000	-68,000	-34,000			-14,000	-14,000			-34,000	-24,000					-20,970						-13,397	-6,883	-14,072	-1,333	0	-3,165
decrease in accrued interest receivable																						-111,000	64,000	1,000	40,000				14,000	14,000	-14,000	6,000	-8,000	30,000	-108,468	43,290	-20,466	61,028	24,606	25,308	30,340	21,915				-4,194				16,045
increase in lease liabilities
increase in interest payable																						-281,000	348,000	722,000	-832,000	704,000	344,000	-106,000	549,000	549,000																	0	0	0	-94,590	17,266	16,922	16,408	15,910	15,943	15,625	15,151	14,852	277,328	285,724	280,509
increase in other liabilities																						-3,679,000	-4,319,000
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
noncash licensing expense																											0					0
noncash change in lease liability and right-of-use asset																							-1,091,000
investment in short-term securities
decrease in leasehold interest																												45,000	46,000	46,000	37,000	45,000	20,000	33,000	36,768	13,147	55,445	19,587
accrued offering costs																												-119,000	179,000	179,000								190,709
consolidated net loss																									-51,116,000																		-17,611,812	-13,655,916	-17,103,183	-14,577,735		-17,451,169	-11,986,430	-7,547,249	-5,663,852	-4,556,195	-6,584,552	-3,673,611	-3,502,054	-2,710,201
non-cash stock compensation expense																									11,068,000
non-cash change in lease liability and right-of-use asset																									2,001,000			529,000	373,000	373,000
adjustments to reconcile consolidated net loss to net cash from operating activities:
change in fair value of notes payable and accrued interest																										96,000	-50,000	12,000	66,000	66,000				96,000				105,782	-45,835
decrease in other assets																																			0			242,372				5,341				25,913				8,706									0	0	10,859
increase in deferred rent																															26,000	25,000	23,000	23,000	31,401	28,364	22,289	22,289	22,289	112,248
proceeds from the exercise of warrants																																			0	2	-1	2,143,084	517,346	50,625	28,108	22,163	57,354	17,341	584,358	408,286	666,319	1,288,245	700,588	901,472		273,762	786,816	936,920
reclassification of deferred financing costs to additional paid-in capital																																											-48,022	-15,017
cash flows from operating activities:
depreciation																											26,000	23,000	23,000	23,000		23,000	21,000	20,000		20,939	20,654	20,416	20,496	19,145	16,939	6,380	5,126	4,521	3,386	2,419	1,477	896	852	706	493	325	194	115	117				236	411	757	757	1,587	796	1,234	1,234	1,487	1,576	2,848	7,627	7,719	7,912	7,939	10,432	14,096	15,878
decrease in prepaid research and development and other current assets																											1,563,000	3,117,000	-2,454,000					691,000
decrease in lease liability																													-339,000	-339,000
cash flows from investing activities:
cash flows from financing activities:
noncash transactions:
shares to be issued in connection with in-licensing
increase in prepaid research and development and other current assets																														-2,454,000								-3,584,938
gain on sale of long-term securities																																							0
proceeds from the sale of long-term securities																																							0
deferred financing costs paid																																													1	-19,438
reclassification of deferred financing costs to additional paid-in capital																																			0	0	0	-2,645	31,891	0
conversion of convertible notes payable to common stock																																							2,416	0
accrued financing cost
increase in restricted cash																																			-1,032	-1,030	-1,016	-1,005	-1,024	-1,023	-1,010	-1,008	-1,017	-1,016	-1,038	-1,060
net increase in cash and cash equivalents																																			-35,124,320	14,239,804	-18,035,209	70,606,292	-4,125,241	578,689	-7,900,588	-18,582,909	-10,400,611	5,161,854	-25,704,359	30,290,661	2,487,985			9,110,861	-9,697,931	36,766,445	-1,771,215	-1,267,828	-917,871	-2,993,213	-556,671	11,175,259	-280,228	-98,808	112,648	-597,298	-445,249	1,999,284	-135,645	-140,927	64,072	124,473	70,359	-540,690	-556,770	483,438	-1,382,969	-2,757,934	-3,899,203	5,660,674
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
financing costs																																								-5,995	4,011	-8,000
cash and cash equivalents at beginning of period																																				0	0	25,031,280		0	0	55,061,329		0	0	55,713,784		0	0	40,485,466	0	0	0	16,455,995		0	0	9,748,491	0	0	478,668	0	0	17,996	0	0	0	106,023	0	0	0	649,686	0	0	0	3,029,118
cash and cash equivalents at end of period																																				14,239,804	-18,035,209	95,637,572		578,689	-7,900,588	36,478,420		5,161,854	-25,704,359	86,004,445		16,147,822	-12,518,350	49,596,327	-9,697,931	36,766,445	-1,771,215	15,188,167		-2,993,213	-556,671	20,923,750	-280,228	-98,808	591,316	-597,298	-445,249	2,017,280	-135,645	-140,927	64,072	230,496	70,359	-540,690	-556,770	1,133,124	-1,382,969	-2,757,934	-3,899,203	8,689,792
increase in other assets																																							-1,261	5,995											0	4,937
accrued financing costs																																																		427,815								55,487
gain on settlement of notes payable																																																0	0	-95,427
noncash stock expense associated with in-licensing agreements																																															0
increase in leasehold interest																																							475,490	-549,037
decrease in interest payable
proceeds from the exercise of options																																															57,200
payment of notes payable																																															0	0
deferred rent																																										389,554
increase in prepaid rent																																										-1,151,163
impairment of in-process research and development
increase in accrued interest receivable																																											-27,494	31,786			-31,695	20,861
adjustments to reconcile consolidated net loss to net cash used in operating activities:
noncash stock expense associated with in-licensing agreement
investment in held-to-maturity long-term securities
investment in held-to-maturity short-term securities																																															-9,118,711	-6,127,539
changes in assets and liabilities, net of effects of acquisition:
gain on settlement of note payable
net decrease in cash and cash equivalents
adjustments to reconcile consolidated net loss to cash used in operating activities:
stock compensation expense																																																		4,231,438	947,148	996,755	1,373,768	1,885,477	1,243,592	818,090	1,171,991	188,509
amortization of premiums on investment securities																																																		15,255
change in fair value and accrued interest of notes payable																																																		51,025				-54,838	-531,402
cash acquired in connection with acquisition
payments of notes payable																																																		-677,778
proceeds from sale of preferred stock																																																							0	0	0	12,257,309
conversion of notes payable to preferred stock
proceeds from exercise of warrants
payments of short-term loans																																																							-1	0	0	-200,000
adjustments to reconcile consolidated net loss to cash from operating activities:
stock issued in connection with in-licensing agreement																																																								0	0	16,578,000
increase in prepaid and other current assets
increase in accounts payable related party, other accounts payable and accrued expenses																																																								592,846
non-cash transactions:
equity in losses of hedrin jv																																																																	162,952	105,362	95,900	135,786
non cash gain on nordic settlement																																																											0	0	-4,017,488
share-based compensation																																																											5,597	5,536	8,077	5,708	15,259	190,882	82,363	78,605	88,373	104,097	84,830	83,396	102,810	192,854	362,771	371,636	371,339	335,210
amortization of oid, issue costs and beneficial conversion feature																																																											887,198
change in fair value of derivative liability																																																											-2,100,898	2,231,746	-170,435
loss on early extinguishment of debt																																																														0
shares issued in connection with ariston milestone																																																											0	0	220,701
warrants issued to consultant
amortization of intangible assets
gain on sale of marketable equity securities
noncash portion of in-process research and development charge
loss on impairment and disposition of intangible assets
other
changes in operating assets and liabilities, net of acquisitions:
decrease in grant receivable																																																											0
decrease in prepaid expenses and other current assets																																																											16,068			5,813	-38,002	88,343	-569				37,704							12,494
purchase of property and equipment																																																														0							-1	0			1	0	-2,868	-6,267
cash acquired in connection with acquisitions																																																														0
net cash from the purchase and sale of short-term investments
proceeds from sale of license
proceeds related to sale of common stock																																																														0												-1,968	6,122	7,848,031
proceeds from the hedrin jv agreement																																																																	0	0	0	500,000	0	-4,054
proceeds from sale of notes payable
sale of warrant																																																																					0	0
net repayments of notes payable																																																											0	0	-100,000
amortization of oid and issue costs																																																													12,062
increase in grant receivable
increase in prepaid expenses and other current assets																																																													75,459
interest and amortization of oid and issue costs
change in fair value of derivative																																																															-2,808,996	942,261	-98,824	-157,778	746,667	70,000
non-cash portion of in-process research and development charge
decrease in restricted cash
proceeds from sale of secured 12% notes																																																																	0	0	0	340,270
proceeds from sale of convertible 12% notes
proceeds from 8% note
repayment of 8% note
proceeds from (repayments of) notes payable
repayment of secured 10% notes																																																																		0	0	-70,000
amortization of oid and issue costs on secured 12% notes																																																																		131,405
increase in interest payable, current portion																																																															61,135	108,246
increase in interest payable, noncurrent portion
repayments of notes payable
proceeds from exercise of warrants and stock options and sale of warrant
decrease (increase) in prepaid expenses and other current assets
decrease (increase) in other assets
net cash provided from the purchase and sale of short-term investments
interest and amortization of oid and issue costs on secured 12% notes																																																																110,507				119,060
non cash portion of in-process research and development charge
increase in accounts payable and accrued liabilities																																																																-426,062
increase in interest payable, non-current portion																																																																13,369
cash acquired/(paid) in connection with acquisitions																																																																519,365
repayment of 8% notes																																																																-27,000
repayments of notes payable to stockholders
proceeds (costs) related to sale of common stock																																																																2,111,746
proceeds from exercise of warrants and stock options																																																																									0	0
supplemental disclosure of cash flow information:
interest paid																																																																1,506									0	0	0	475
supplemental disclosure of noncash investing and financing activities:
investment in hedrin jv																																																																				500,000
warrants issued with secured 12% notes																																																																				53,044
common stock issued in satisfaction of accounts payable																																																																									0	0
imputed and accrued preferred stock dividend
conversion of preferred stock to common stock
preferred stock dividends paid by issuance of shares
issuance of common stock for acquisitions																																																																1,491,937
issuance of common stock in connection with in-licensing agreement
marketable equity securities received in connection with sale of license
net liabilities assumed over assets acquired in business combination
decrease (increase) in restricted cash
increase (decrease) in accounts payable
increase (decrease) in accrued expenses
cash paid in connection with acquisitions
proceeds from sale of (repayment of) secured 10% notes
proceeds from sale of 8% note
warrants issued with 12% notes
note issued to settle accrued expenses
cashless exercise of warrants																																																																									0	0
increase in accounts payable																																																																												150,367
increase in accrued expenses																																																																					-364,231	388,557	49,531	208,038	-346,479	-589,750	859,159	119,218
proceeds from sale of secured 10% notes
decrease/(increase) in restricted cash																																																																			339,662	215,870
decrease/(increase) in prepaid expenses and other current assets																																																																			-2,741	-14,850
decrease/(increase) in other assets
increase/(decrease) in accounts payable																																																																			28,434	-397,820
increase/(decrease) in accrued expenses																																																																			28,933	-117,672
investment in jv
decrease in accounts payable
equity in loss of hedrin jv																																																																						140,138
loss on sale of fixed assets
increase /(decrease) in accounts payable																																																																						87,977	-368,877	-293,262
proceeds from the sale of license
proceeds from sale of 10% secured notes
(increase)/decrease in prepaid expenses and other current assets
investment in hedrin jv’s general partner																																																																							0	-13,620
imputed preferred stock dividend
preferred stock dividends accrued
decrease in prepaid expenses																																																																								-17,693
proceeds from the put and warrant issued in the hedrin jv																																																																								1,958,683
loss on sale of marketable equity securities
adjustments to reconcile net loss to
net cash from operating activities:
shares issued in connection with in-licensing agreements
proceeds from sale of short-term investments
payment for fractional shares for preferred stock dividends
issuance of common stock in connection with in-licensing agreements
marketable equity securities received in connection with
sale of license
cash acquired (paid) in connection with acquisitions
proceeds from sale (payments for purchase)of short-term investments
increase in subscription receivable																																																																												-250,000
proceeds from sale (payments for purchase) of short-term investments
common stock issued in satisfaction of ccounts payable																																																																												20,000
see accompanying notes to unaudited condensed consolidated financial statements.

TG Therapeutics, Inc(NASDAQ:TGTX)

TG Therapeutics, Inc
(NASDAQ:TGTX)