TG Therapeutics, Inc. (NASDAQ:TGTX), a pharmaceutical company, has announced key corporate changes following its annual stockholders meeting held on Thursday. The company secured approval to increase its authorized common stock and amend its 2022 Incentive Plan.
The Delaware-incorporated company, which focuses on developing treatments for B-cell malignancies and autoimmune diseases, received stockholder consent to expand the number of authorized shares of common stock from 175 million to 190 million. This amendment to the Amended and Restated Certificate of Incorporation was filed with the Secretary of State of Delaware on June 14, 2024, immediately after the annual meeting.
In addition to the increase in authorized shares, TG Therapeutics' stockholders approved a modification to the company's 2022 Incentive Plan. The amendment removes the full-value awards limit, a move aimed at enhancing the flexibility of the company's compensation strategy for its executives. Details of the amendment were included as Appendix B in the proxy statement filed with the Securities and Exchange Commission on April 29, 2024.
The annual meeting also saw the election of six directors who will serve until the 2025 annual meeting. The company's independent registered public accounting firm, KPMG LLP, was ratified for the fiscal year ending December 31, 2024. Additionally, the advisory vote on the compensation of the company's named executive officers passed.
The meeting had a strong turnout, with over 71% of the outstanding shares represented. The proxy solicitation was conducted in accordance with SEC regulations.
These corporate updates are based on the official statement from TG Therapeutics' SEC filing, which reflects the company's current strategic adjustments and governance decisions. The company's headquarters are located in New York, with a business address in Morrisville, North Carolina.
In other recent news, TG Therapeutics reported robust growth in the first quarter of 2024, driven primarily by its anti-CD20 therapy, Briumvi. The company announced Briumvi's US revenue surpassed $50 million, contributing to total revenues of over $63 million. Additionally, TG Therapeutics raised its revenue guidance for the full year to between $270 million and $290 million, and expects to achieve profitability in the next quarter or two.
The company is also expanding Briumvi's market reach and developing new formulations, with the aim of making it the top-prescribed therapy in its class. In a recent development, TG Therapeutics formed a partnership to acquire a license for a CD19 CAR T cell therapy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.