TG Therapeutics Provides Business Update and Reports Third Quarter 2019 Financial Results Conference call to be held today, Tuesday

TG Therapeutics Provides Business Update and Reports Third Quarter

2019 Financial Results

Conference call to be held today, Tuesday, November 12, 2019 at

New York, NY, (November 12,

2019) TG Therapeutics,

Inc. (NASDAQ: TGTX) today announced its financial results for the

third quarter ended September 30, 2019 and recent company

Michael S. Weiss, the Company's Executive Chairman and Chief

Executive Officer, stated, "In the third quarter our team continued

to execute on our core mission of developing combination therapies

for patients with B-cell diseases. With the announcement of

positive marginal zone lymphoma data earlier this year, and

positive follicular lymphoma data only a few weeks ago, we have our

first two foundational datasets for which we believe approval is in

our reach. Adding on top of this, will be our UNITY-CLL Phase 3

study, which we are targeting a PFS readout around year-end or into

the first quarter of next year. With these core pieces in place,

our broader combination approach should come into focus, as we

execute on a strategy to position U2 as an important stand-alone

treatment as well as one that can improve outcomes when combined

with other available therapies. We believe our recent ASH abstracts

contain some initial insights into the future of U2. Mr.

Weiss continued, With a pro forma cash

position of approximately $100 million at the end of the

third quarter, we believe we have sufficient capital resources

through our next two major pivotal data

releases including UNITY-CLL and the ULTIMATE

Recent Developments and Highlights

Two triple therapy data abstracts were

accepted for presentation at the upcoming 61st

American Society of Hematology (ASH)

annual meeting, including an oral presentation for the triple

combination of U2 (umbralisib and ublituximab) plus venetoclax, and

Phase 1 data for TG-1701, the Company's novel BTK inhibitor,

monotherapy and in combination with U2.

Positive Interim Data from FL

Cohort of UNITY-NHL Trial: Positive interim data from the

follicular lymphoma (FL) cohort of the UNITY-NHL trial was

announced, with results meeting the Company's prespecified

ORR target. The Company plans to present the data at a future

medical conference as well as discuss the data with the U.S. Food

and Drug Administration (FDA).

GENUINE Progression Free

Survival (PFS): Final long-term

results from the Phase 3 GENUINE study demonstrated that

ublituximab in combination with ibrutinib improved progression-free

survival (PFS), as determined by Independent Review Committee

U2 Published in Blood:

Phase I/Ib combination trial of U2 was

published in Blood, the Journal of the American Society of

Ublituximab Data in Multiple

Sclerosis: Updated Phase 2

extension trial data for ublituximab in relapsing forms of multiple

sclerosis (RMS), as well as the ULTIMATE I & II Phase 3 RMS

program study design and demographic data was presented at the

Annual Congress of the European

Committee for Treatment and Research in Multiple Sclerosis

Remaining 2019 and Early 2020 Milestones

a rolling New Drug Application (NDA) submission for umbralisib to

treat adult patients with previously treated marginal zone lymphoma

potential top-line PFS results from the Phase 3 UNITY-CLL trial

evaluating U2 in patients with frontline and previously treated

results from the Phase 2b UNITY-NHL FL cohort with the FDA to

determine potential filing opportunities.

Financial Results for the Three and Nine Months Ended September 30,

Other research and development

(R&D) expense (not including non-cash compensation and non-cash

in-licensing expense) was $56.5 million and $118.8 million for the

three and nine months ended September 30, 2019, respectively,

compared to $32.8 million and $98.7 million for the three and nine

months ended September 30, 2018, respectively. The increase in R&D expense is primarily

attributable to an increase in manufacturing expenses for Phase 3

clinical trials and potential commercialization (incurred during

2019) of $27 million and $31.6 million during the three and nine

months ended September 30, 2019, respectively, as compared to prior

periods. This was partially offset by a decrease in clinical trial

expense of $3.8 million and $14.2 million for the three and nine

months ended September 30, 2019, respectively, as compared to prior

periods. We expect our other R&D expenses to decrease during

the remainder of 2019 and into 2020 as our clinical trial expenses

continue to decrease and the bulk of our CMC expenditures have been

incurred during 2019.

G&A Expenses: Other general and

administrative (G&A) expense (not including non-cash

compensation) was $2.3 million and $6.6 million for the three and

nine months ended September 30, 2019, respectively, as compared to

$1.8 million and $6.2 million for the three and nine months ended

September 30, 2018, respectively. Other G&A expenses remained

consistent with the prior period, and we expect Other G&A

expenses to increase modestly through the remainder of

Net Loss: Net loss was $61.9 million and

$133.3 million for the three and nine months ended September 30,

2019, respectively, compared to a net loss of $34.0 million and

$119.6 million for the three and nine months ended September 30,

2018, respectively. Excluding non-cash items, the net loss for the

three and nine months ended September 30, 2019 was approximately

$59.9 million and $127.5 million. Cash used in operations for the

three months ended September 30, 2019 was approximately $33

million, as the payments of much of the increase in manufacturing

expenses were deferred 12 months, having little impact on the