What is TG Therapeutics Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, TG Therapeutics's Probability of Financial Distress (%) is 0.06%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of TG Therapeutics's Probability of Financial Distress (%)
For the Biotechnology subindustry, TG Therapeutics's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TG Therapeutics's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, TG Therapeutics's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where TG Therapeutics's Probability of Financial Distress (%) falls into.
TG Therapeutics Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -7.36 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.06% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
TG Therapeutics (TG Therapeutics) Business Description
Traded in Other Exchanges
Address
3020 Carrington Mill boulevard, Suite 475, Morrisville, NC, USA, 27560
TG Therapeutics Inc is a fully-integrated, commercial-stage, biopharmaceutical company focused on the acquisition, development, and commercialization of novel treatments for B-cell diseases. The company has received approval from the U.S. Food and Drug Administration (FDA) for BRIUMVI (ublituximab-xiiy) for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS). and the company is developing TG-1701 (BTK inhibitor) and TG-1801 (anti-CD47/CD19 bispecific mAb) for B-cell disorders which are under Phase 1 trial.
Executives
| Laurence N Charney |
director |
MARVEL ENTERTAINMENT, INC., 417 FIFTH AVENUE, NEW YORK NY 10016 |
| Sean A Power |
officer: CFO, Secretary and Treasurer |
787 SEVENTH AVENUE, 48TH FLOOR, NEW YORK NY 10019 |
| Michael S Weiss |
director, officer: CEO and President |
750 LEXINGTON AVE, NEW YORK NY 10022 |
| Sagar Lonial |
director |
C/O TG THERAPEUTICS, INC., 2 GANSEVOORT STREET, 9TH FLOOR, NEW YORK NY 10014 |
| Yann Echelard |
director |
C/O LFB BIOTECHNOLOGIES, S.A.S., 3, AVENUE DES TROPIQUES LES ULIS, COURTABOEUF I0 91958 |
| Ra Capital Management, L.p. |
10 percent owner |
200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
| Kenneth Hoberman |
director |
750 LEXINGTON AVENUE, 6TH FLOOR, NEW YORK NY 10024 |
| Daniel Hume |
director |
3 COLUMBUS CIRCLE, 15TH FLOOR, NEW YORK NY 10019 |
| William James Kennedy |
director |
C/O XTL BIOPHARMACEUTICALS LTD, 711 EXECUTIVE BLVD., SUITE Q, VALLEY COTTAGE NY 10989 |
| Ra Capital Healthcare Fund Lp |
10 percent owner |
200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
| Rajeev M. Shah |
10 percent owner |
200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
| Peter Kolchinsky |
10 percent owner |
200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
| Lfb Biotechnologies S.a.s.u. |
10 percent owner |
3 AVENUE DES TROPIQUES, LES ULIS, COURTABOEUF I0 91958 |
| Mark Schoenebaum |
director |
787 SEVENTH AVENUE, 48TH FLOOR, NEW YORK NY 10019 |
| Opus Point Partners, Llc |
10 percent owner |
787 7TH AVENUE, 48TH FLOOR, NEW YORK NY 10019 |
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