TG Therapeutics Inc. (NASDAQ: TGTX) entered into a five‑year, $750 million senior secured credit facility with Blue Owl Capital, repaying an existing $250 million facility and netting $500 million in non‑dilutive capital. The new line includes an option for an additional $250 million, potentially bringing the total facility to $1 billion.
The company’s board simultaneously increased its share‑repurchase authorization from $100 million to $300 million. As of March 18 2026, $38 million of common stock had already been repurchased under the original program at an average price of $28.98 per share, demonstrating active use of the facility to return capital to shareholders.
Management said the financing “significantly enhances our financial position with increased scale and improved terms compared to our prior facility. This financing builds on our cash‑flow‑positive business and provides substantial non‑dilutive capital to support opportunistic share repurchases and business development, while continuing to invest in the growth of BRIUMVI and advancement of our pipeline.” CEO Michael S. Weiss added that the expanded buy‑back program “underscores our confidence in our business and our commitment to delivering long‑term shareholder value.” Blue Owl’s Managing Director Sandip Agarwala noted that TG “continues to demonstrate strong commercial execution with BRIUMVI and a disciplined approach to growth. We are pleased to deepen our relationship with TG through this expanded facility and support the Company as it continues to advance its strategic initiatives.”
In Q4 2025, TG reported revenue of $192.57 million—up from the forecast of $188.73 million—and an EPS of $0.14 versus the consensus estimate of $0.35. Full‑year 2025 revenue reached $616.3 million, with U.S. net product revenue for BRIUMVI at $594.1 million, reflecting robust market adoption. The company now guides 2026 total global revenue to $875–$900 million, driven by the launch of a subcutaneous formulation of BRIUMVI and continued expansion of its pipeline. Analysts have noted potential financial warning signs, such as a high Beneish M‑Score and Sloan Ratio, but TG’s high current ratio and sustained revenue growth suggest a solid liquidity position.
The combination of a sizable, non‑dilutive credit line and a larger share‑repurchase program gives TG flexibility to fund commercial operations, accelerate the subcutaneous BRIUMVI program, and invest in pipeline development without issuing new equity. The move signals management’s confidence in the company’s cash‑flow generation and its commitment to shareholder value while positioning TG to capture additional market share in multiple sclerosis and beyond.
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