TG Therapeutics (TGTX) stock plummeted 7% during intraday trading on Monday, as investors reacted negatively to the company's second-quarter 2026 financial results. The sharp decline was primarily driven by a significant earnings miss, despite the company reporting stronger-than-expected revenue and raising its full-year outlook.

The biotech firm reported earnings per share of $0.05, widely missing the consensus analyst estimate of $0.33. Net income fell sharply to $7.8 million from $28.2 million in the prior-year period, driven by a substantial increase in research and development expenses, which nearly tripled to $95.3 million, and higher selling, general and administrative costs. This marks the third consecutive quarter in which the company has significantly missed earnings expectations, intensifying market concerns over its profitability trajectory.

On the positive side, total revenue for the quarter surged 70% year-over-year to $240.3 million, beating expectations. BRIUMVI U.S. net product revenue reached $227.7 million, up about 64% from a year ago. Management also raised its full-year 2026 total global revenue target to approximately $950 million, citing strong sales momentum for BRIUMVI, which is tracking toward a $1 billion annualized U.S. revenue run rate exiting the year. However, the bottom-line miss and the dramatic decline in net income appeared to weigh heavily on intraday sentiment, triggering the sell-off.