• In early March 2026, Precision BioSciences announced it had reached a clinical milestone under its licensing agreement with TG Therapeutics for azercabtagene zapreleucel in progressive multiple sclerosis, triggering a US$7.5 million milestone payment, including US$5.25 million in cash and a US$2.25 million equity purchase.
• This progress adds azer-cel as a differentiated autoimmune program alongside TG Therapeutics’ BRIUMVI franchise, potentially broadening its MS-focused treatment portfolio and long-term therapeutic reach.
• We’ll now examine how this new azer-cel milestone in progressive multiple sclerosis could reshape TG Therapeutics’ investment narrative and risk profile.

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TG Therapeutics Investment Narrative Recap

To own TG Therapeutics, you need to believe BRIUMVI can remain a strong MS franchise while the pipeline slowly broadens beyond a single-product story. The azer cel milestone in progressive MS is an encouraging step toward diversification, but it is early stage and does not materially change the near term focus on subcutaneous BRIUMVI as the key catalyst or the concentration risk around BRIUMVI today.

The most relevant recent announcement here is TG’s Q4 2025 earnings, with full year revenue of US$616.29 million and net income of US$447.18 million, underscoring how dependent profitability is on BRIUMVI’s current trajectory. As azer cel progresses, the contrast between a profitable, BRIUMVI heavy base business and an early, higher risk cell therapy program becomes central to how you weigh both upside catalysts and downside clinical risk.

Yet beneath this progress, investors should be aware that rising payer pressure on high cost MS drugs could...

TG Therapeutics' narrative projects $1.2 billion revenue and $469.0 million earnings by 2028.

Uncover how TG Therapeutics' forecasts yield a $44.43 fair value, a 52% upside to its current price.

Exploring Other Perspectives

Compared with consensus, the most bearish analysts tell a far more cautious story, even before this azer cel update, assuming revenue of about US$1.0 billion and earnings of roughly US$344.7 million by 2028 and still assigning a much lower value to the stock. If you worry about heavier pricing and reimbursement pressure on BRIUMVI over time, this more pessimistic view may resonate and it is worth weighing against the potential impact of new MS programs like azer cel.

Explore 7 other fair value estimates on TG Therapeutics - why the stock might be worth 47% less than the current price!

Form Your Own Verdict

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your TG Therapeutics research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free TG Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate TG Therapeutics' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.