10-Q/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from               to              

Commission File Number: 000-30929

TG THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

Delaware	36-3898269
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

787 Seventh Avenue

New York, New York 10019

(Address of principal executive offices) (Zip Code)

(212) 554-4484

(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

x Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

x Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer £	Accelerated filer £
Non-accelerated filer £ (Do not check if smaller reporting company)	Smaller reporting company x

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

o Yes x No

Explanatory Note: The sole purpose of this Amendment to TG Therapeutics, Inc.’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2012, filed with the Securities and Exchange Commission on August 9, 2012 (the “Form 10-Q”), is to provide the consolidated financial statements and related notes from the Form 10-Q formatted in eXtensible Business Reporting Language (“XBRL”) and to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL. No other changes have been made to the Form 10-Q. This Amendment containing financial statements in XBRL format is filed within the period permitted under Rule 405 of Regulation S-T.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

2

Item 6. Exhibits

a) Exhibits

Index to Exhibits

Exhibit Number	Description of Document
3.01*	Amended and Restated Certificate of Incorporation of TG Therapeutics, Inc. dated April 26, 2012.
3.02*	Restated Bylaws of TG Therapeutics, Inc. dated May 14, 2012 (incorporated by reference to the Registrant’s Form 10-Q for the quarter ended March 31, 2012 filed May 14, 2012).
31.1*	Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 9, 2012.
31.2*	Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 9, 2012.
32.1*	Certification of Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, dated August 9, 2012.
32.2*	Certification of Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, dated August 9, 2012.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase
101.DEF**	XBRL Taxonomy Extension Definition Linkbase
101.LAB**	XBRL Taxonomy Extension Label Linkbase
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase

^* These exhibits were previously included or incorporated by reference in TG Therapeutics, Inc.’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 9, 2012.

^** Filed herewith.

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned and thereunto duly authorized.

TG THERAPEUTICS, INC.

Date:	September 7, 2012
By:	/s/ Sean A. Power
	Sean A. Power
	Chief Financial Officer
	Principal Financial and Accounting Officer

4

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NOTES PAYABLE (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Non-interest Bearing Note Payable, Net Current portion, net	$ 0	$ 200,000
Convertible 5% Notes Payable Current portion, net	0	0
ICON Convertible Note Current portion, net	677,778	677,778
Notes Payable, Current, Total	677,778	877,778
Non-interest Bearing Note Payable,Net Non- Current portion, net	0	0
Convertible 5% Notes Payable Non- Current portion, net	4,395,100	4,664,697
ICON Convertible Note Non- Current portion, net	0	0
Notes Payable, Noncurrent, Total	4,395,100	4,664,697
Total	0	200,000
Total	4,395,100	4,664,697
Total	677,778	677,778
Total	$ 5,072,878	$ 5,542,475

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ACQUISITION (Details 1) (USD $)	Dec. 29, 2011
Cash and cash equivalents	$ 10,386
Other assets	90,770
In-process research and development acquired	5,441,839
Total identifiable assets	5,542,995
Accounts payable and accrued expenses	197,191
Total identifiable liabilities	5,794,509
Net identifiable liabilities	(251,514)
Goodwill	629,752
Total	378,238
Icon and Swiss Pharma [Member]
Notes payable (ICON and Swiss Pharma)	939,718
Excluding Icon and Swiss Pharma [Member]
Notes payable (ICON and Swiss Pharma)	$ 4,657,600

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FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE 2 – FAIR VALUE MEASUREMENTS

We measure certain financial assets and liabilities at fair value on a recurring basis in the financial statements. The hierarchy ranks the quality and reliability of inputs, or assumptions, used in the determination of fair value and requires financial assets and liabilities carried at fair value to be classified and disclosed in one of the following three categories:

· Level 1 – quoted prices in active markets for identical assets and liabilities;

· Level 2 – inputs other than Level 1 quoted prices that are directly or indirectly observable; and

· Level 3 – unobservable inputs that are not corroborated by market data.

As of December 31, 2011 and June 30, 2012, the fair values of cash and cash equivalents, other current assets, notes and interest payable, current portion, accounts payable and accrued expenses, and interest payable, noncurrent approximate their carrying value.

Upon the merger between Manhattan and Ariston Pharmaceuticals, Inc. (“Ariston”) in March 2010, Ariston issued $15,452,793 of five-year 5% notes payable (the “5% Notes”) in satisfaction of several note payable issuances.  The 5% Notes and accrued and unpaid interest thereon are convertible at the option of the holder into Common Stock at the conversion price of $1,125 per share.  Ariston agreed to make quarterly payments on the 5% Notes equal to 50% of the net product cash flow received from the exploitation or commercialization of Ariston’s product candidates, AST-726 and AST-915.  The Company has no obligations under the 5% Notes aside from a) 50% of the net product cash flows from Ariston’s product candidates, if any, payable to noteholders; and b) the conversion feature, discussed above.

In connection with the Exchange Transaction in December 2011, the Company performed a valuation of the assets and liabilities of Manhattan immediately prior to the transaction. The cumulative liability including accrued and unpaid interest of these notes was approximately $16,876,000 immediately prior to the Exchange Transaction, $16,883,000 at December 31, 2011, and $17,302,000 at June 30, 2012. As these notes payable are tied directly to net product cash flows derived from the preexisting products of the Company, this note and accrued interest was recorded at fair value of $4,664,697 as of the date of the Exchange Transaction. No payments have been made on these notes as of June 30, 2012.

We elected the fair value option for valuing the 5% Notes upon the completion of the reverse merger with TG Bio, as discussed above. The Company elected the fair value option in order to reflect in our financial statements the assumptions that market participants use in evaluating these financial instruments.

The valuation methods used to estimate the 5% Notes’ fair value was a discounted cash flow model, where the expected cash flows of AST-726 and AST-915 are discounted to the present using a yield that incorporates compensation for the probability of success in clinical development and marketing, among other factors. The discount rate used in this discounted cash flow model approximated 20% at December 31, 2011 and June 30, 2012. The assumptions, assessments and projections of future revenues are subject to uncertainties, are difficult to predict and require significant judgment. The use of different assumptions, applying different judgment to inherently subjective matters and changes in future market conditions could result in significantly different estimates of fair value and the differences could be material to our consolidated financial statements.

The following table provides the fair value measurements of applicable financial liabilities as of December 31, 2011 and June 30, 2012:

	Financial liabilities at fair value as of December 31, 2011
	Level 1		Level 2		Level 3		Total
5% Notes	$	—	$	—	$	4,664,697	$	4,664,697
Totals	$	—	$	—	$	4,664,697	$	4,664,697

	Financial liabilities at fair value as of June 30, 2012
	Level 1		Level 2		Level 3		Total
5% Notes	$	—	$	—	$	4,395,100	$	4,395,100
Totals	$	—	$	—	$	4,395,100	$	4,395,100

The Level 3 amounts above represent the fair value of the 5% Notes and related accrued interest.

The following table summarizes the changes in Level 3 instruments during the six months ended June 30, 2012:

Fair value at December 31, 2011	$	4,664,697
Interest accrued on face value of 5% Notes		418,256
Change in fair value of Level 3 liabilities		(687,853	)
Fair value at June 30, 2012	$	4,395,100

The change in the fair value of the Level 3 liabilities is reported in other (income) expense in the accompanying condensed consolidated statements of operations.

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STOCKHOLDERS' EQUITY (Details 1) (USD $)	6 Months Ended
	Jun. 30, 2012
Restricted Stock Preferred [Member]
Number of Shares, Outstanding at December 31, 2011	129,375	[1]
Number of Shares, Granted	0	[1]
Number of Shares, Vested	0	[1]
Number of Shares, Forfeited	0	[1]
Conversion to restricted common stock	(129,375)
Number of Shares, Outstanding at June 30, 2012	0	[1]
Weighted Average Grant Date Fair Value Outstanding at December 31, 2011	$ 20.00
Weighted Average Grant Date Fair Value Granted	$ 0
Weighted Average Grant Date Fair Value Vested	$ 0
Weighted Average Grant Date Fair Value Forfeited	$ 0
conversion to restricted common stock - weighted average grant date fair value	$ 20.00
Weighted Average Grant Date Fair Value Outstanding at June 30, 2012	$ 0
Aggregate Intrinsic Value Outstanding at June 30, 2012	$ 0
Restricted Stock Common [Member]
Number of Shares, Outstanding at December 31, 2011	0
Converted preferred stock	1,150,000
Number of Shares, Granted	3,135,000
Number of Shares, Vested	0
Number of Shares, Forfeited	0
Number of Shares, Outstanding at June 30, 2012	4,285,000
Weighted Average Grant Date Fair Value Outstanding at December 31, 2011	$ 0
Converted Preferred Stock	$ 2.25
Weighted Average Grant Date Fair Value Granted	$ 6.20
Weighted Average Grant Date Fair Value Vested	$ 0
Weighted Average Grant Date Fair Value Forfeited	$ 0
Weighted Average Grant Date Fair Value Outstanding at June 30, 2012	$ 5.14
Aggregate Intrinsic Value Outstanding at June 30, 2012	$ 26,781,250

[1] (1) The restricted Company Preferred Stock listed in the table above was granted in connection with the Exchange Transaction to certain executives as discussed above. Each share of Company Preferred Stock is convertible into 8.89 shares of the Company's Common Stock, provided that such conversion right is subject to sufficient available authorized shares of the registrant's common stock.

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STOCKHOLDERS' EQUITY (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Number of shares Outstanding at December 31, 2011	3,379
Number of shares Granted	0
Number of shares Exercised	0
Number of shares Forfeited	(2,475)
Number of shares Expired	0
Number of shares Outstanding at June 30, 2012	904	3,379
Number of shares Vested and expected to vest at June 30, 2012	904
Number of shares Exercisable at June 30, 2012	898
Weighted - average exercise price Outstanding at December 31, 2011	$ 1,315.62
Weighted - average exercise price Granted	$ 0
Weighted - average exercise price Exercised	$ 0
Weighted - average exercise price Forfeited	$ 720.45
Weighted - average exercise price Expired	$ 0
Weighted - average exercise price Outstanding at June 30, 2012	$ 2,945.09	$ 1,315.62
Weighted - average exercise price Vested and expected to vest at June 30, 2012	$ 2,945.09
Weighted - average exercise price Exercisable at June 30, 2012	$ 2,963.46
Weighted- average Contractual Term Outstanding	2 years 2 months 26 days	6 years 4 months 20 days
Weighted - average Contractual Term Vested and expected to vest at June 30, 2012	2 years 2 months 26 days
Weighted - average Contractual Term Exercisable at June 30, 2012	2 years 2 months 8 days
Aggregate Intrinsic Value Outstanding at June 30, 2012	$ 0
Aggregate Intrinsic Value Vested and expected to vest at June 30, 2012	0
Aggregate Intrinsic Value Exercisable at June 30, 2012	$ 0

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STOCKHOLDERS' EQUITY (Details 2) (USD $)	6 Months Ended
	Jun. 30, 2012
Warrants Outstanding at December 31, 2011	2,118,768
Warrants Issued	2,163,555
Warrants Exercised	0
Warrants Expired	(1,449)
Warrant Outstanding at June 30, 2012	4,280,874
Weighted - average exercise price of Warrants Outstanding at December 31, 2011	$ 4.62
Weighted - average exercise price of Warrants Issued	$ 2.31
Weighted - average exercise price of Warrants Exercised	$ 0
Weighted - average exercise price of Warrants Expired	$ 2,812.5
Weighted - average exercise price of Warrants Outstanding at June 30, 2012	$ 2.5
Aggregate Intrinsic Value of Warrants Outstanding at June 30, 2012	$ 16,860,808

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STOCKHOLDERS' EQUITY (Details 3) (USD $)	3 Months Ended	6 Months Ended	15 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2012
Stock compensation expense	$ 1,171,991	$ 1,360,500	$ 1,446,994
Restricted Stock [Member]
Stock compensation expense	1,171,991	1,360,500
Stock Option [Member]
Stock compensation expense	$ 0	$ 0

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

We are a biopharmaceutical company focused on the acquisition, development and commercialization of innovative and medically important pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. We aim to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, funding their research and development and eventually either out-licensing or bringing the technologies to market. Currently we are developing TGTX-1101 (ublituximab), a novel, third generation monoclonal antibody that targets a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes. We also hold the development rights to AST-726, a nasally delivered product for the treatment of Vitamin B₁₂ deficiency, and AST-915, an orally delivered treatment for essential tremor. 

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they may not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair presentation of the consolidated financial statements have been included. Nevertheless, these consolidated financial statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2011. The results of operations for the three and six months ended June 30, 2012 are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period.

On December 29, 2011, the Company entered into and consummated an exchange transaction agreement (the “Exchange Transaction”) with Opus Point Partners, LLC (“Opus”) and TG Biologics, Inc. (formerly known as TG Therapeutics, Inc.) (“TG Bio”). The stockholders of TG Bio received the majority of the voting shares of the Company, therefore, the merger was accounted for as a reverse acquisition whereby TG Bio was the accounting acquirer (legal acquiree) and the Company was the accounting acquiree (legal acquirer) under the acquisition method of accounting. TG Bio was incorporated in Delaware in November 2010, but did not commence operations until April 2011.

On April 30, 2012, the Company filed a Certificate of Amendment to its Certificate of Incorporation to change its name from Manhattan Pharmaceuticals, Inc. (“Manhattan”) to TG Therapeutics, Inc. In conjunction with this change, the subsidiary formerly named TG Therapeutics, Inc. filed a Certificate of Amendment changing its name to TG Biologics, Inc.

Liquidity and Capital Resources

We have incurred operating losses since our inception and expect to continue to incur operating losses for the foreseeable future and may never become profitable. As of June 30, 2012, we have an accumulated deficit of $13,003,817.

Our primary source of cash has been proceeds from the private placement of equity securities. We have not yet commercialized any of our drug candidates and cannot be sure if we will ever be able to do so. Even if we commercialize one or more of our drug candidates, we may not become profitable. Our ability to achieve profitability depends on a number of factors, including our ability to obtain regulatory approval for our drug candidates, successfully complete any post-approval regulatory obligations and successfully commercialize our drug candidates alone or in partnership. We may continue to incur substantial operating losses even if we begin to generate revenues from our drug candidates.

On December 30, 2011, we completed the first closing of the private placement of our securities, issuing 4,929,523 shares of Company $0.001 par value common stock (“Common Stock “) at a price per share of $2.25 for total gross proceeds, before placement commissions and expenses, of $11,091,425 (the “2011 Equity PIPE”). Investors also received warrants to purchase 1,232,381 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years.

In 2012, we completed two additional closings of the 2011 Equity PIPE. These closings were held on January 31, 2012, and February 24, 2012. In these closings, the Company issued 695,428 shares of our Series A preferred stock (“Company Preferred Stock”) at a price per share of $20.00, for total gross proceeds, before placement commissions and expenses, of $13,908,560. Each share of Company Preferred Stock was convertible into 8.89 shares of Common Stock, provided that such conversion rights were subject to sufficient available authorized shares of Common Stock. In connection with the reverse stock split effected by the Company on April 30, 2012 (as discussed below), all shares of preferred stock issued in the 2011 Equity PIPE were converted to Common Stock. Investors also received warrants to purchase 1,545,396 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years. The shares of Company Preferred Stock and warrants sold in these closings were offered and sold to accredited investors, including members of management, without registration under the Securities Act, or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act, and Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. Accordingly, the securities issued in the Offering have not been registered under the Securities Act, and until so registered, these securities may not be offered or sold in the United States absent registration or availability of an applicable exemption from registration.

Our Common Stock is quoted on the OTC Bulletin Boardand trades under the symbol “TGTX.”

Reverse Stock Split

On April 30, 2012, the Company effected a reverse split of its Common Stock at a ratio of 56.25 for 1, pursuant to a previously obtained stockholder authorization. All share amounts and per share prices in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the effect of our reverse stock split, on a fifty six and one quarter (56.25) for one (1) basis, unless otherwise indicated.  The exercise price for all stock options and warrants and the conversion price for convertible securities in the accompanying condensed consolidated financial statements have been adjusted to reflect the reverse stock split by multiplying the original exercise or conversion price by fifty six and one quarter (56.25).

Cash and Cash Equivalents

We treat liquid investments with original maturities of less than three months when purchased as cash and cash equivalents.

Research and Development Costs

Research and development costs are expensed as incurred. Nonrefundable advance payments for goods or services that will be used or rendered for future research and development activities are deferred and amortized over the period that the goods are delivered or the related services are performed, subject to an assessment of recoverability. We make estimates of costs incurred in relation to external clinical research organizations, or CROs, and clinical site costs. We analyze the progress of clinical trials, including levels of patient enrollment, invoices received and contracted costs when evaluating the adequacy of the amount expensed and the related prepaid asset and accrued liability. Significant judgments and estimates must be made and used in determining the accrued balance and expense in any accounting period. We review and accrue CRO expenses and clinical trial study expenses based on work performed and rely upon estimates of those costs applicable to the stage of completion of a study. Accrued CRO costs are subject to revisions as such trials progress to completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known. With respect to clinical site costs, the financial terms of these agreements are subject to negotiation and vary from contract to contract. Payments under these contracts may be uneven, and depend on factors such as the achievement of certain events, the successful recruitment of patients, the completion of portions of the clinical trial or similar conditions. The objective of our policy is to match the recording of expenses in our financial statements to the actual services received and efforts expended. As such, expense accruals related to clinical site costs are recognized based on our estimate of the degree of completion of the event or events specified in the specific clinical study or trial contract.

In-Process Research and Development

Acquired research and development projects are recorded at their fair value as of the date acquisition. The fair values are assessed annually in the fourth quarter, or sooner, if there is an indicator of impairment, to ascertain if there has been any impairment of the recorded value. If there is an impairment, the asset is written down to its current fair value by the recording of an expense. Impairment testing consists of a comparison of the fair value of the in-process research and development with its carrying amount.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. If the likelihood of realizing the deferred tax assets or liability is less than “more likely than not,” a valuation allowance is then created.

We, and our subsidiaries, file income tax returns in the U.S. Federal jurisdiction and in various states. We have tax net operating loss carryforwards that are subject to examination for a number of years beyond the year in which they were generated for tax purposes. Since a portion of these net operating loss carryforwards may be utilized in the future, many of these net operating loss carryforwards will remain subject to examination.

We recognize interest and penalties related to uncertain income tax positions in income tax expense.

Stock-Based Compensation

We recognize all share-based payments to employees and to non-employee directors for service on our board of directors as compensation expense in the consolidated financial statements based on the fair values of such payments. Stock-based compensation expense recognized each period is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

For share-based payments to consultants and other third-parties, compensation expense is determined at the “measurement date.” The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. We record compensation expense based on the fair value of the award at the reporting date. The awards to consultants and other third-parties are then revalued, or the total compensation is recalculated based on the then current fair value, at each subsequent reporting date.

Basic and Diluted Net (Loss) Income Per Share of Common Stock

Basic net income (loss) per share of Common Stock is calculated by dividing net income (loss) applicable to the Common Stock by the weighted-average number of shares of Common Stock outstanding for the period. Diluted net loss per share of Common Stock is the same as basic net income (loss) per share of Common Stock since potentially dilutive securities from stock options, stock warrants and convertible preferred stock would have an antidilutive effect either because the Company incurred a net loss during the period presented or because such potentially dilutive securities were out of the money and the Company realized net income during the period presented. The amounts of potentially dilutive securities excluded from the calculation were 7,433,525 at June 30, 2012. During the three and six months ended June 30, 2012, the Company incurred a net loss; therefore, all of the dilutive securities are excluded from the computation of diluted earnings per share.

Impairment

Long lived assets are reviewed for an impairment loss when circumstances indicate that the carrying value of long-lived tangible and intangible assets with finite lives may not be recoverable. Management’s policy in determining whether an impairment indicator exists, a triggering event, comprises measurable operating performance criteria as well as qualitative measures. If an analysis is necessitated by the occurrence of a triggering event, we make certain assumptions in determining the impairment amount. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the difference between the carrying value and the estimated fair value.

Goodwill is reviewed for impairment annually or when events arise that could indicate that an impairment exists. We test for goodwill impairment using a two-step process. The first step compares the fair value of the reporting unit with the unit's carrying value, including goodwill. When the carrying value of the reporting unit is greater than fair value, the unit’s goodwill may be impaired, and the second step must be completed to measure the amount of the goodwill impairment charge, if any. In the second step, the implied fair value of the reporting unit’s goodwill is compared with the carrying amount of the unit’s goodwill. If the carrying amount is greater than the implied fair value, the carrying value of the goodwill must be written down to its implied fair value. We will continue to perform impairment tests annually at December 31 and whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable.

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STOCKHOLDERS' EQUITY (Details Textual) (USD $)	1 Months Ended	3 Months Ended	6 Months Ended	15 Months Ended		3 Months Ended	6 Months Ended			1 Months Ended		3 Months Ended
	Dec. 31, 2011	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2012	Apr. 30, 2012	Jun. 30, 2012 Restricted Stock [Member]	Jun. 30, 2012 Restricted Stock [Member]	Jun. 30, 2012 2012 Incentive Plan [Member]	Jun. 30, 2012 Placement Agent [Member]	Dec. 30, 2011 Two Thousand and Eleven Issuance [Member] Private Placement [Member]	Jun. 30, 2012 Two Thousand and Twelve Issuance [Member]	Mar. 31, 2012 Two Thousand and Twelve Issuance [Member] Series Preferred Stock [Member]
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares outstanding	413,388	0	0	0
Convertible Preferred Stock, Shares Issued upon Conversion		1,150,000	1,150,000	1,150,000	9,857,596
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001						$ 0.001
Stock Issued During Period, Shares, New Issues										4,929,523		695,428
Fair Value Per Share Issued										$ 2.25
Proceeds from Issuance of Private Placement										$ 11,091,425
Class of Warrant or Right, Number of Securities Called by Warrants or Rights									618,159	1,232,381	1,545,396
Class of Warrant or Right, Exercise Price of Warrants or Rights									$ 2.48	$ 2.25	$ 2.25
Class Of Warrant Or Rights Exercisable Period										5 years	5 years
Preferred stock issued at $20.00 per share, before placement commissions and expenses												13,908,560
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								6,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant								2,865,000
Agent Cash Commission Percentage On Proceeds From Shares Issuance			10.00%
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized			Less than $1000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition			9 months
Stock compensation expense		$ 1,171,991	$ 1,360,500	$ 1,446,994		$ 1,171,991	$ 1,360,500
Preferred Stock To Common Stock Conversion Basis Per Share	8.89											8.89

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Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 20,367,079	$ 9,748,491
Other current assets	89,488	87,176
Total current assets	20,456,567	9,835,667
Equipment	1,399	0
In-process research and development	5,441,839	5,441,839
Goodwill	629,752	629,752
Total assets	26,529,557	15,907,258
Liabilities and equity
Notes payable, current portion	677,778	877,778
Accounts payable - related party	1,257,600	0
Other accounts payable and accrued expenses	321,725	666,640
Interest payable, current portion	91,944	61,941
Total current liabilities	2,349,047	1,606,359
Notes payable, noncurrent portion, at fair value	4,395,100	4,664,697
Total liabilities	6,744,147	6,271,056
Commitments and contingencies
Equity:
Preferred stock, $0.001 par value per share (10,000,000 shares authorized, 0 and 413,388 issued and outstanding as of June 30, 2012 and December 31, 2011, respectively, aggregate liquidation value of $0 and $8,267,760 at June 30, 2012 and December 31, 2011, respectively)	0	413
Common stock, $0.001 par value per share (500,000,000 shares authorized, 18,053,995 and 5,061,399 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively)	18,054	5,061
Contingently issuable shares	6	6
Additional paid-in capital	24,001,440	10,472,115
Deficit accumulated in development stage	(13,003,817)	(853,074)
Total TG Therapeutics, Inc. and subsidiaries equity	11,015,683	9,624,521
Noncontrolling interest in subsidiary	8,769,727	11,681
Total equity	19,785,410	9,636,202
Total liabilities and equity	$ 26,529,557	$ 15,907,258

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Condensed Consolidated Statement of Equity [Parenthetical] (USD $)	6 Months Ended
	Jun. 30, 2012
Preferred Stock Issued	$ 20.00

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LICENSE AGREEMENTS (Details Textual) (USD $)	3 Months Ended		6 Months Ended		15 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2012 LFB Biotechnologies [Member]	Dec. 31, 2011 LFB Biotechnologies [Member]
Stock Issued During Period Shares License Option							132,000
Possible milestone payments to pay upon successful achievement of certain milestones						$ 31,000,000
Bussiness Acquisiton Purchase Agreement Period Description						The license will terminate on a country by country basis upon the expiration of the last licensed patent right or 15 years after the first commercial sale of a product in such country, unless the agreement is earlier terminated.
Sale of Stock, Number of Shares Issued in Transaction						7,368,000
Common Stock Value Subscribed Subsidiary Sale Of Stock						15,000,000
Common Stock Shares Subscribed Subsidiary Sale Of Stock						7,500,000
Noncash stock expense associated with in-licensing agreement	0	297,000	16,578,000	297,000	16,875,000	16,578,000
Subsidiary Shares Conversion Shares To Be Issued						7,500,000
Payments Towards License						$ 0
Noncontrolling Interest, Description						LFB Group owns less than 10% of the outstanding Company Common Stock.

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FAIR VALUE MEASUREMENTS (Details 1) (USD $)	6 Months Ended
	Jun. 30, 2012
Fair value at December 31, 2011	$ 4,664,697
Interest accrued on face value of 5% Notes	418,256
Change in fair value of Level 3 liabilities	(687,853)
Fair value at June 30, 2012	$ 4,395,100

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RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	3 Months Ended		6 Months Ended		15 Months Ended	6 Months Ended	1 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2012 LFB Group [Member]	Dec. 31, 2011 Two Thousand and Eleven Issuance [Member]	Dec. 30, 2011 Two Thousand and Eleven Issuance [Member] Private Placement [Member]	Jun. 30, 2012 Two Thousand and Eleven Equity Pipe Member [Member]
Proceeds from Issuance of Private Placement								$ 11,091,425	$ 25,000,000
Equity Method Investment, Ownership Percentage	23.60%		23.60%		23.60%
Agent Cash Commission Percentage On Proceeds From Shares Issuance			10.00%
Legal Expenses Reimbursed To Agent							80,000
Advisory Fees Expenses Private Placement							150,000
Other research and development	$ 1,536,896	$ 0	$ 1,700,249	$ 0	$ 1,730,532	$ 1,258,000

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ACQUISITION (Details) (USD $)	Dec. 29, 2011
Number of shares of Manhattan common stock outstanding at the time of the transaction	131,526
Multiplied by Manhattan's fair value of the Common Stock	$ 2.25
Multiplied by Manhattan's fair value of the Common Stock	$ 295,933
Fair Value Of Restricted Shares Acquired	82,305
Total purchase price	$ 378,238

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Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended		15 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss	$ (19,970,697)	$ (297,000)	$ (20,859,768)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:
Stock compensation expense	1,360,500		1,446,994
Stock issued in connection with in-licensing agreement	16,578,000	297,000	16,875,000
Change in fair value of notes payable	(269,597)	0	(269,597)
Changes in assets and liabilities, net of effects of acquisition:
Decrease (increase) in other current assets	(2,313)	0	1,280
Increase in accounts payable related party, other accounts payable and accrued expenses	912,685	0	1,320,995
Increase in interest payable	30,003	0	37,100
Net cash used in operating activities	(1,361,419)	0	(1,447,996)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(1,399)	0	(1,399)
Cash acquired in connection with acquisition	0	0	10,386
Net cash (used in) provided by investing activities	(1,399)	0	8,987
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of short-term loans	(200,000)	0	(200,000)
Proceeds from sale of common stock, net	0	0	9,824,682
Proceeds from sale of preferred stock, net	12,257,309	0	12,257,309
Offering costs paid	(75,903)	0	(75,903)
Net cash provided by financing activities	11,981,406	0	21,806,088
NET INCREASE IN CASH AND CASH EQUIVALENTS	10,618,588	0	20,367,079
Cash and cash equivalents at beginning of period	9,748,491	0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	20,367,079	0	20,367,079
NONCASH TRANSACTIONS:
Conversion of notes payable to preferred stock	0	0	55,271
Accrued financing costs	$ 0	$ 0	$ 116,626

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Condensed Consolidated Balance Sheets [Parenthetical] (USD $)	Jun. 30, 2012	Dec. 31, 2011
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	413,388
Preferred stock, shares outstanding	0	413,388
Preferred stock, liquidation preference per share (in dollars)	$ 0	$ 8,267,760
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	18,053,995	5,061,399
Common stock, shares outstanding	18,053,995	5,061,399

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ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2012

Business Acquisition, Date Of Acquisition [Abstract]

Schedule Of Purchase Price Computation [Table Text Block]

A summary of the purchase price calculation is as follows:

Number of shares of Manhattan common stock outstanding at the time of the transaction		131,526
Multiplied by Manhattan’s fair value of the Common Stock	$	2.25	$	295,933
Fair value of restricted stock assumed				82,305
Total purchase price			$	378,238

Schedule of Purchase Price Allocation [Table Text Block]

The purchase price has been allocated as follows based on the fair values of the assets and liabilities acquired:

Cash and cash equivalents	$	10,386
Other assets		90,770
In-process research and development acquired		5,441,839
Total identifiable assets		5,542,995
Accounts payable and accrued expenses		197,191
Notes payable (ICON and Swiss Pharma)		939,718
5% notes payable and accrued interest		4,657,600
Total identifiable liabilities		5,794,509
Net identifiable liabilities		(251,514	)
Goodwill		629,752
Total	$	378,238

Business Acquisition, Pro Forma Information [Table Text Block]

The following supplemental pro forma information presents the financial results as if the transaction had occurred on January 1, 2011 for the three and six months ended June 30, 2011. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made on January 1, 2011, nor are they indicative of future results.

	Three months ended June 30, 2011			Six months ended June 30, 2011
Revenue	$	—		$	—
Net (loss) income	$	(3,279,539	)	$	552,844
Basic and diluted (loss) income per common share	$	(1.24	)	$	0.21

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 02, 2012
Entity Registrant Name	TG THERAPEUTICS, INC.
Entity Central Index Key	0001001316
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	tgtx
Entity Common Stock, Shares Outstanding		18,053,995
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012

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STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2012

Stockholders Equity Note [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock option activity for the six months ended June 30, 2012:

	Number of shares			Weighted- average exercise price		Weighted- average Contractual Term		Aggregate Intrinsic Value
						(in years)
Outstanding at December 31, 2011		3,379		$	1,315.62		6.39
Granted		—			—
Exercised		—			—
Forfeited		(2,475	)		720.45
Expired		—			—
Outstanding at June 30, 2012		904		$	2,945.09		2.24	$	—
Vested and expected to vest at June 30, 2012		904		$	2,945.09		2.24	$	—
Exercisable at June 30, 2012		898		$	2,963.46		2.19	$	—

As of June 30, 2012, the total compensation cost related to unvested option awards not yet recognized is less than $1,000. The weighted average period over which it is expected to be recognized is approximately 9 months.

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

Restricted Stock - Preferred

Certain employees have been awarded restricted Company Preferred Stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares Restricted Series A Preferred Stock(1)			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		129,375		$	20.00
Granted		—			—
Vested		—			—
Forfeited
Conversion to restricted common stock		(129,375	)		20.00
Outstanding at June 30, 2012		—		$	—	$	—

⁽¹⁾ The restricted Company Preferred Stock listed in the table above was granted in connection with the Exchange Transaction to certain executives as discussed above. Each share of Company Preferred Stock was convertible into 8.89 shares of the Company’s Common Stock. In conjunction with the reverse split effected on April 30, 2012 (as discussed in Note 1), all outstanding restricted Preferred Stock automatically converted to 1,150,000 shares of Common Stock as of that date.

Restricted Stock - Common

Certain employees, directors and consultants have been awarded restricted stock under the 2012 Incentive Plan. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		—	$	—
Converted preferred stock		1,150,000		2.25
Granted		3,135,000		6.20
Vested		—		—
Forfeited		—		—
Outstanding at June 30, 2012		4,285,000	$	5.14	$	26,781,250

Total expense associated with restricted stock (both common and preferred) was $1,171,991 and $1,360,500 during the three and six months ended June 30, 2012, respectively. 

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Warrants

The following table summarizes warrant activity for the six months ended June 30, 2012:

	Warrants			Weighted- average exercise price		Aggregate Intrinsic Value
Outstanding at December 31, 2011		2,118,768		$	4.62
Issued		2,163,555			2.31
Exercised		—			—
Expired		(1,449	)		2,812.50
Outstanding at June 30, 2012		4,280,874		$	2.50	$	16,860,808

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes stock-based compensation expense information about stock options and restricted stock for the three and six months ended June 30, 2012:

	Three months ended June 30, 2012		Six months ended June 30, 2012
Stock-based compensation expense associated with restricted stock	$	1,171,991	$	1,360,500
Stock-based compensation expense associated with option grants		—		—
	$	1,171,991	$	1,360,500

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Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended		15 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Costs and expenses:
Noncash stock expense associated with in-licensing agreement	$ 0	$ 297,000	$ 16,578,000	$ 297,000	$ 16,875,000
Noncash compensation	109,198		109,198		109,198
Other research and development	1,536,896	0	1,700,249	0	1,730,532
Total research and development	1,646,094	297,000	18,387,447	297,000	18,714,730
General and administrative:
Noncash compensation	1,062,793	0	1,251,302	0	1,337,796
Other general and administrative	396,043	0	851,535	0	1,319,732
Total general and administrative	1,458,836	0	2,102,837	0	2,657,528
Total costs and expenses	3,104,930	297,000	20,490,284	297,000	21,372,258
Operating loss	(3,104,930)	(297,000)	(20,490,284)	(297,000)	(21,372,258)
Other (income) expense:
Interest income	(4,092)	0	(7,760)	0	(7,760)
Other income	(272,232)	0	(272,232)	0	(272,232)
Interest expense	228,109	0	448,258	0	455,355
Change in fair value of notes payable	(482,556)	0	(687,853)	0	(687,853)
Total other (income)	(530,771)	0	(519,587)	0	(512,490)
Consolidated net loss	(2,574,159)	(297,000)	(19,970,697)	(297,000)	(20,859,768)
Net loss attributable to noncontrolling interest	(679,506)	(14,895)	(7,819,954)	(14,895)	(7,855,951)
Net loss attributable to TG Therapeutics, Inc. and subsidiaries	$ (1,894,653)	$ (282,105)	$ (12,150,743)	$ (282,105)	$ (13,003,817)
Basic and diluted net loss per common share (in dollars per share)	$ (0.16)	$ (0.15)	$ (1.44)	$ (0.31)
Weighted average shares used in computing basic and diluted net loss per common share (in shares)	11,777,563	1,822,154	8,419,481	916,110

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NOTES PAYABLE

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 5 – NOTES PAYABLE

The following is a summary of notes payable:

	June 30, 2012						December 31, 2011
	Current portion, net		Non- current portion, net		Total		Current portion, net		Non- current portion, net		Total
Non-interest Bearing Note Payable, Net	$	—	$	—	$	—	$	200,000	$	—	$	200,000
Convertible 5% Notes Payable		—		4,395,100		4,395,100		—		4,664,697		4,664,697
ICON Convertible Note		677,778		—		677,778		677,778		—		677,778
Total	$	677,778	$	4,395,100	$	5,072,878	$	877,778	$	4,664,697	$	5,542,475

We assumed the preceding notes payable as the result of the Exchange Transaction. Accordingly, a valuation was performed and these notes have been presented at their fair value on the date of the transaction.

Non-Interest Bearing Note Payable

In October 2009, Manhattan entered into a Settlement Agreement and Mutual Release with Swiss Pharma Contract LTD (“Swiss Pharma”) pursuant to which Manhattan agreed to pay Swiss Pharma $200,000 and issue to Swiss Pharma an interest free promissory note due on October 27, 2011 in the principal amount of $250,000 in full satisfaction of a September 5, 2008 arbitration award. In November 2011, Manhattan renegotiated the $250,000 promissory note due October 27, 2011 in which the amount of the promissory note was reduced to $200,000 and the maturity date was extended to February 15, 2012. This amount was paid on February 14, 2012 in full settlement of this note.

Convertible 5% Notes Payable

On March 8, 2010, Manhattan entered into an Agreement and Plan of Merger (the "Merger Agreement") by and among the Company, Ariston Pharmaceuticals, Inc., a Delaware corporation ("Ariston") and Ariston Merger Corp., a Delaware corporation and wholly-owned subsidiary of the Company (the "Merger Sub").  Pursuant to the terms and conditions set forth in the Merger Agreement, on March 8, 2010, the Merger Sub merged with and into Ariston (the "Merger"), with Ariston being the surviving corporation of the Merger.  As a result of the Merger, Ariston became a wholly-owned subsidiary of the Company.

The 5% Notes and accrued and unpaid interest thereon are convertible at the option of the holder into Common Stock at the conversion price of $1,125 per share.  Ariston agreed to make quarterly payments on the 5% Notes equal to 50% of the net product cash flow received from the exploitation or commercialization of Ariston’s product candidates, AST-726 and AST-915.  The Company has no obligations under the 5% Notes aside from a) 50% of the net product cash flows from Ariston’s product candidates, if any, payable to noteholders; and b) the conversion feature, discussed above. Interest accrues monthly, is added to principal on an annual basis, every March 8, and is payable at maturity.

In connection with the Exchange Transaction in December 2011, the Company performed a valuation of the assets and liabilities of Manhattan immediately prior to the transaction. The cumulative liability including accrued and unpaid interest of these notes was approximately $16,876,000 immediately prior to the Exchange Transaction, $16,883,000 at December 31, 2011, and $17,302,000 at June 30, 2012. As these notes payable are tied directly to net product cash flows derived from the preexisting products of the Company, this note and accrued interest was recorded at fair value as of the date of the Exchange Transaction. No payments have been made on these notes as of June 30, 2012. See Note 2 for further details.

ICON Convertible Note Payable

In connection with the merger with Ariston as discussed above, Ariston satisfied an account payable of $1,275,188 to ICON Clinical Research Limited (“ICON”) through the payment of $275,188 in cash and the issuance of a three-year 5% note payable (the “ICON Note”).  The principal was to be repaid in 36 monthly installments of $27,778 commencing in April 2010.  Interest was payable monthly in arrears.   On March 1, 2011, Ariston entered into an amended and restated convertible promissory note (the “Amended ICON Note”) with ICON. The principal terms of the Amended ICON Note are that monthly payments of principal and interest will be waived for the thirteen month period ended December 31, 2011 (the “Waiver Period”) in exchange for a single payment of $100,000 on March 31, 2011, an increase in the interest on the Amended ICON Note from 5% to 8% per annum during the Waiver Period and a balloon payment on January 31, 2012. The Amended ICON Note is convertible at the option of the holder into the Company’s Common Stock at the conversion price of $562.50 per share. During the three and six months ended June 30, 2012, the Company recorded $15,150 and $30,003, respectively, of interest expense on the Amended ICON Note. At June 30, 2012, the principal amount of the Amended ICON Note was $677,778, of which the entire balance has been classified as current, and interest payable on the Amended ICON Note was $91,944, and is reflected as notes payable, current portion, net, and interest payable, current portion, net, respectively, in the accompanying balance sheet as of June 30, 2012. This note is currently in default as the Company did not make the balloon payment due on January 31, 2012, or any subsequent payments. The Company is currently attempting to negotiate a settlement or alternative arrangement in satisfaction of this note.

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STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2012

Stockholders Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 4 - STOCKHOLDERS' EQUITY

Preferred Stock

Our amended and restated certificate of incorporation authorizes the issuance of up to 10,000,000 shares of preferred stock, $0.001 par value, with rights senior to those of our common stock, issuable in one or more series. Upon issuance, the Company can determine the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock.

In conjunction with the reverse split effected on April 30, 2012 (as discussed in Note 1), all outstanding Company Preferred Stock automatically converted to 9,857,596 shares of Common Stock as of that date.

Common Stock

Our amended and restated certificate of incorporation authorizes the issuance of up to 500,000,000 shares of $0.001 par value common stock.

On December 30, 2011, we completed the first closing of the private placement of our securities, issuing 4,929,523 shares of Common Stock at a price per share of $2.25 for total gross proceeds, before placement commissions and expenses, of $11,091,425 (the “2011 Equity PIPE”). Investors also received warrants to purchase 1,232,381 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years.

In 2012, we completed two additional closings of the 2011 Equity PIPE. These closings were held on January 31, 2012, and February 24, 2012. In these closings, the Company issued 695,428 shares of our Company Preferred Stock at a price per share of $20.00 for total gross proceeds, before placement commissions and expenses, of $13,908,560. Each share of Company Preferred Stock was convertible into 8.89 shares of Common Stock provided that such conversion rights were subject to sufficient available authorized shares of Common Stock. In connection with the reverse stock split effected by the Company on April 30, 2012, all shares of preferred stock issued in the 2011 Equity PIPE were converted to Common Stock. Investors also received warrants to purchase 1,545,396 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years. The shares of Company Preferred Stock and warrants sold in these closings were offered and sold to accredited investors, including members of management, without registration under the Securities Act, or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act, and Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. Accordingly, the securities issued in the offering have not been registered under the Securities Act, and until so registered, these securities may not be offered or sold in the United States absent registration or availability of an applicable exemption from registration. The placement agent received cash commissions equal to 10% of the gross proceeds of the offering, five-year warrants to purchase shares of the Company’s stock equal to 10% of shares sold in the offering, and a non-accountable expense allowance equal to two percent of the gross proceeds of the offering for their expenses.    

Equity Incentive Plans

The TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan (“2012 Incentive Plan”) was adopted in May 2012. Under the 2012 Incentive Plan, the compensation committee of the Company’s board of directors is authorized to grant stock-based awards to directors, consultants, employees and officers. The 2012 Incentive Plan authorizes grants to purchase up to 6,000,000 shares of authorized but unissued common stock. As of June 30, 2012, up to an additional 2,865,000 shares may be issued under the 2012 Incentive Plan.

A summary of the status of the Company’s stock options as of June 30, 2012 and changes during the period then ended is presented below:

 A summary of the status of the Company’s stock options as of June 30, 2012 and changes during the period then ended is presented below:

Stock Options

The following table summarizes stock option activity for the six months ended June 30, 2012:

	Number of shares			Weighted- average exercise price		Weighted- average Contractual Term		Aggregate Intrinsic Value
						(in years)
Outstanding at December 31, 2011		3,379		$	1,315.62		6.39
Granted		—			—
Exercised		—			—
Forfeited		(2,475	)		720.45
Expired		—			—
Outstanding at June 30, 2012		904		$	2,945.09		2.24	$	—
Vested and expected to vest at June 30, 2012		904		$	2,945.09		2.24	$	—
Exercisable at June 30, 2012		898		$	2,963.46		2.19	$	—

As of June 30, 2012, the total compensation cost related to unvested option awards not yet recognized is less than $1,000. The weighted average period over which it is expected to be recognized is approximately 9 months.

Restricted Stock - Preferred

Certain employees have been awarded restricted Company Preferred Stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares Restricted Series A Preferred Stock(1)			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		129,375		$	20.00
Granted		—			—
Vested		—			—
Forfeited
Conversion to restricted common stock		(129,375	)		20.00
Outstanding at June 30, 2012		—		$	—	$	—

⁽¹⁾ The restricted Company Preferred Stock listed in the table above was granted in connection with the Exchange Transaction to certain executives as discussed above. Each share of Company Preferred Stock was convertible into 8.89 shares of the Company’s Common Stock. In conjunction with the reverse split effected on April 30, 2012 (as discussed in Note 1), all outstanding restricted Preferred Stock automatically converted to 1,150,000 shares of Common Stock as of that date.

Restricted Stock - Common

Certain employees, directors and consultants have been awarded restricted stock under the 2012 Incentive Plan. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		—	$	—
Converted preferred stock		1,150,000		2.25
Granted		3,135,000		6.20
Vested		—		—
Forfeited		—		—
Outstanding at June 30, 2012		4,285,000	$	5.14	$	26,781,250

Total expense associated with restricted stock (both common and preferred) was $1,171,991 and $1,360,500 during the three and six months ended June 30, 2012, respectively. 

Warrants

The following table summarizes warrant activity for the six months ended June 30, 2012:

	Warrants			Weighted- average exercise price		Aggregate Intrinsic Value
Outstanding at December 31, 2011		2,118,768		$	4.62
Issued		2,163,555			2.31
Exercised		—			—
Expired		(1,449	)		2,812.50
Outstanding at June 30, 2012		4,280,874		$	2.50	$	16,860,808

During the six months ended June 30, 2012, as part of the 2011 Equity PIPE, we issued warrants to purchase up to 1,545,396 shares of our Company Common Stock to investors in the 2011 Equity PIPE, none of which have been exercised as of June 30, 2012. The warrants have an exercise price of $2.25 per warrant share. In addition, we issued to the placement agent in the transaction warrants to purchase up to 618,159 shares of our Company Common Stock at an exercise price of $2.48 per warrant share, none of which have been exercised as of June 30, 2012.

Stock-Based Compensation

The fair value of stock options granted is estimated at the date of grant using the Black-Scholes pricing model. The expected term of options granted is derived from historical data and the expected vesting period. Expected volatility is based on the historical volatility of our common stock. The risk-free interest rate is based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. We have assumed no expected dividend yield, as dividends have never been paid to stock or option holders and will not be paid for the foreseeable future. The Company did not grant any stock options during the six months ended June 30, 2012.

The following table summarizes stock-based compensation expense information about stock options and restricted stock for the three and six months ended June 30, 2012:

	Three months ended June 30, 2012		Six months ended June 30, 2012
Stock-based compensation expense associated with restricted stock	$	1,171,991	$	1,360,500
Stock-based compensation expense associated with option grants		—		—
	$	1,171,991	$	1,360,500

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FAIR VALUE MEASUREMENTS (Details Textual) (USD $)	1 Months Ended	6 Months Ended		12 Months Ended
	Dec. 31, 2011	Jun. 30, 2012	Dec. 29, 2011	Dec. 31, 2010 Manhattan And Ariston Pharmaceuticals Merger [Member]
Notes Issued				$ 15,452,793
Debt Instrument, Maturity Period				5 years
Debt Instrument, Interest Rate, Effective Percentage				5.00%
Debt Instrument, Convertible, Conversion Price				$ 1,125
Percentage Of Cash Proceeds From Operation To Repay Interest On Convertible Debt				50.00%
Long-term Debt, Gross	16,883,000	17,302,000	16,876,000
Debt Instrument, Fair Value Disclosure		4,664,697
Fair Value Inputs, Discount Rate	20.00%	20.00%
Repayments of Long-term Debt		$ 0

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NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

The following is a summary of notes payable:

	June 30, 2012						December 31, 2011
	Current portion, net		Non- current portion, net		Total		Current portion, net		Non- current portion, net		Total
Non-interest Bearing Note Payable, Net	$	—	$	—	$	—	$	200,000	$	—	$	200,000
Convertible 5% Notes Payable		—		4,395,100		4,395,100		—		4,664,697		4,664,697
ICON Convertible Note		677,778		—		677,778		677,778		—		677,778
Total	$	677,778	$	4,395,100	$	5,072,878	$	877,778	$	4,664,697	$	5,542,475

We assumed the preceding notes payable as the result of the Exchange Transaction. Accordingly, a valuation was performed and these notes have been presented at their fair value on the date of the transaction.

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Business Combinations Policy [Policy Text Block]

Description of Business

We are a biopharmaceutical company focused on the acquisition, development and commercialization of innovative and medically important pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. We aim to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, funding their research and development and eventually either out-licensing or bringing the technologies to market. Currently we are developing TGTX-1101 (ublituximab), a novel, third generation monoclonal antibody that targets a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes. We also hold the development rights to AST-726, a nasally delivered product for the treatment of Vitamin B₁₂ deficiency, and AST-915, an orally delivered treatment for essential tremor. 

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they may not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair presentation of the consolidated financial statements have been included. Nevertheless, these consolidated financial statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2011. The results of operations for the three and six months ended June 30, 2012 are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period.

On December 29, 2011, the Company entered into and consummated an exchange transaction agreement (the “Exchange Transaction”) with Opus Point Partners, LLC (“Opus”) and TG Biologics, Inc. (formerly known as TG Therapeutics, Inc.) (“TG Bio”). The stockholders of TG Bio received the majority of the voting shares of the Company, therefore, the merger was accounted for as a reverse acquisition whereby TG Bio was the accounting acquirer (legal acquiree) and the Company was the accounting acquiree (legal acquirer) under the acquisition method of accounting. TG Bio was incorporated in Delaware in November 2010, but did not commence operations until April 2011.

On April 30, 2012, the Company filed a Certificate of Amendment to its Certificate of Incorporation to change its name from Manhattan Pharmaceuticals, Inc. (“Manhattan”) to TG Therapeutics, Inc. In conjunction with this change, the subsidiary formerly named TG Therapeutics, Inc. filed a Certificate of Amendment changing its name to TG Biologics, Inc.

Liquidity and Capital Disclosure [Policy Text Block]

Liquidity and Capital Resources

We have incurred operating losses since our inception and expect to continue to incur operating losses for the foreseeable future and may never become profitable. As of June 30, 2012, we have an accumulated deficit of $13,003,817.

Our primary source of cash has been proceeds from the private placement of equity securities. We have not yet commercialized any of our drug candidates and cannot be sure if we will ever be able to do so. Even if we commercialize one or more of our drug candidates, we may not become profitable. Our ability to achieve profitability depends on a number of factors, including our ability to obtain regulatory approval for our drug candidates, successfully complete any post-approval regulatory obligations and successfully commercialize our drug candidates alone or in partnership. We may continue to incur substantial operating losses even if we begin to generate revenues from our drug candidates.

On December 30, 2011, we completed the first closing of the private placement of our securities, issuing 4,929,523 shares of Company $0.001 par value common stock (“Common Stock “) at a price per share of $2.25 for total gross proceeds, before placement commissions and expenses, of $11,091,425 (the “2011 Equity PIPE”). Investors also received warrants to purchase 1,232,381 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years.

In 2012, we completed two additional closings of the 2011 Equity PIPE. These closings were held on January 31, 2012, and February 24, 2012. In these closings, the Company issued 695,428 shares of our Series A preferred stock (“Company Preferred Stock”) at a price per share of $20.00, for total gross proceeds, before placement commissions and expenses, of $13,908,560. Each share of Company Preferred Stock was convertible into 8.89 shares of Common Stock, provided that such conversion rights were subject to sufficient available authorized shares of Common Stock. In connection with the reverse stock split effected by the Company on April 30, 2012 (as discussed below), all shares of preferred stock issued in the 2011 Equity PIPE were converted to Common Stock. Investors also received warrants to purchase 1,545,396 shares of Common Stock. The warrants have an exercise price of $2.25 per share and are exercisable for five years. The shares of Company Preferred Stock and warrants sold in these closings were offered and sold to accredited investors, including members of management, without registration under the Securities Act, or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act, and Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. Accordingly, the securities issued in the Offering have not been registered under the Securities Act, and until so registered, these securities may not be offered or sold in the United States absent registration or availability of an applicable exemption from registration.

Our Common Stock is quoted on the OTC Bulletin Boardand trades under the symbol “TGTX.”

Reverse Stock Split Policy [Policy Text Block]

Reverse Stock Split

On April 30, 2012, the Company effected a reverse split of its Common Stock at a ratio of 56.25 for 1, pursuant to a previously obtained stockholder authorization. All share amounts and per share prices in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the effect of our reverse stock split, on a fifty six and one quarter (56.25) for one (1) basis, unless otherwise indicated.  The exercise price for all stock options and warrants and the conversion price for convertible securities in the accompanying condensed consolidated financial statements have been adjusted to reflect the reverse stock split by multiplying the original exercise or conversion price by fifty six and one quarter (56.25).

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

We treat liquid investments with original maturities of less than three months when purchased as cash and cash equivalents.

Research and Development Expense, Policy [Policy Text Block]

Research and Development Costs

Research and development costs are expensed as incurred. Nonrefundable advance payments for goods or services that will be used or rendered for future research and development activities are deferred and amortized over the period that the goods are delivered or the related services are performed, subject to an assessment of recoverability. We make estimates of costs incurred in relation to external clinical research organizations, or CROs, and clinical site costs. We analyze the progress of clinical trials, including levels of patient enrollment, invoices received and contracted costs when evaluating the adequacy of the amount expensed and the related prepaid asset and accrued liability. Significant judgments and estimates must be made and used in determining the accrued balance and expense in any accounting period. We review and accrue CRO expenses and clinical trial study expenses based on work performed and rely upon estimates of those costs applicable to the stage of completion of a study. Accrued CRO costs are subject to revisions as such trials progress to completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known. With respect to clinical site costs, the financial terms of these agreements are subject to negotiation and vary from contract to contract. Payments under these contracts may be uneven, and depend on factors such as the achievement of certain events, the successful recruitment of patients, the completion of portions of the clinical trial or similar conditions. The objective of our policy is to match the recording of expenses in our financial statements to the actual services received and efforts expended. As such, expense accruals related to clinical site costs are recognized based on our estimate of the degree of completion of the event or events specified in the specific clinical study or trial contract.

In Process Research and Development, Policy [Policy Text Block]

In-Process Research and Development

Acquired research and development projects are recorded at their fair value as of the date acquisition. The fair values are assessed annually in the fourth quarter, or sooner, if there is an indicator of impairment, to ascertain if there has been any impairment of the recorded value. If there is an impairment, the asset is written down to its current fair value by the recording of an expense. Impairment testing consists of a comparison of the fair value of the in-process research and development with its carrying amount.

Income Tax, Policy [Policy Text Block]

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. If the likelihood of realizing the deferred tax assets or liability is less than “more likely than not,” a valuation allowance is then created.

We, and our subsidiaries, file income tax returns in the U.S. Federal jurisdiction and in various states. We have tax net operating loss carryforwards that are subject to examination for a number of years beyond the year in which they were generated for tax purposes. Since a portion of these net operating loss carryforwards may be utilized in the future, many of these net operating loss carryforwards will remain subject to examination.

We recognize interest and penalties related to uncertain income tax positions in income tax expense.

:Share Based Compensation Option And Incentive Plans Policy [Policy Text Block]

Stock-Based Compensation

We recognize all share-based payments to employees and to non-employee directors for service on our board of directors as compensation expense in the consolidated financial statements based on the fair values of such payments. Stock-based compensation expense recognized each period is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

For share-based payments to consultants and other third-parties, compensation expense is determined at the “measurement date.” The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. We record compensation expense based on the fair value of the award at the reporting date. The awards to consultants and other third-parties are then revalued, or the total compensation is recalculated based on the then current fair value, at each subsequent reporting date.

Earnings Per Share, Policy [Policy Text Block]

Basic and Diluted Net (Loss) Income Per Share of Common Stock

Basic net income (loss) per share of Common Stock is calculated by dividing net income (loss) applicable to the Common Stock by the weighted-average number of shares of Common Stock outstanding for the period. Diluted net loss per share of Common Stock is the same as basic net income (loss) per share of Common Stock since potentially dilutive securities from stock options, stock warrants and convertible preferred stock would have an antidilutive effect either because the Company incurred a net loss during the period presented or because such potentially dilutive securities were out of the money and the Company realized net income during the period presented. The amounts of potentially dilutive securities excluded from the calculation were 7,433,525 at June 30, 2012. During the three and six months ended June 30, 2012, the Company incurred a net loss; therefore, all of the dilutive securities are excluded from the computation of diluted earnings per share.

Property, Plant and Equipment, Impairment [Policy Text Block]

Impairment

Long lived assets are reviewed for an impairment loss when circumstances indicate that the carrying value of long-lived tangible and intangible assets with finite lives may not be recoverable. Management’s policy in determining whether an impairment indicator exists, a triggering event, comprises measurable operating performance criteria as well as qualitative measures. If an analysis is necessitated by the occurrence of a triggering event, we make certain assumptions in determining the impairment amount. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the difference between the carrying value and the estimated fair value.

Goodwill is reviewed for impairment annually or when events arise that could indicate that an impairment exists. We test for goodwill impairment using a two-step process. The first step compares the fair value of the reporting unit with the unit''s carrying value, including goodwill. When the carrying value of the reporting unit is greater than fair value, the unit’s goodwill may be impaired, and the second step must be completed to measure the amount of the goodwill impairment charge, if any. In the second step, the implied fair value of the reporting unit’s goodwill is compared with the carrying amount of the unit’s goodwill. If the carrying amount is greater than the implied fair value, the carrying value of the goodwill must be written down to its implied fair value. We will continue to perform impairment tests annually at December 31 and whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable.

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LICENSE AGREEMENTS

6 Months Ended

Jun. 30, 2012

License Agreement [Abstract]

License Agreement Disclosure [Text Block]

NOTE 6 – LICENSE AGREEMENTS

In April 2011, TG Bio, acquired from LFB Biotechnologies, a fully owned subsidiary of France based LFB S.A., an option (the “License Option”) for exclusive worldwide rights (except France/Belgium) to develop and market ublituximab (“TGTX-1101”), a monoclonal antibody that targets a specific epitope on the B-cell lymphocyte CD20 antigen. In exchange for the License Option, TG Bio issued 132,000 shares of its common stock to LFB.

On January 30, 2012, TG Bio exercised the License Option and entered into an exclusive license agreement with LFB Biotechnologies, GTC Biotherapeutics and LFB/GTC LLC, all wholly-owned subsidiaries of LFB Group, relating to the development of ublituximab (the “License Agreement”). Under the License Agreement, we have acquired the exclusive worldwide rights (exclusive of France/Belgium) for the development and commercialization of TGTX-1101 (ublituximab). To date, we have made no payments to LFB Group and LFB Group is eligible to receive payments of up to an aggregate of approximately $31.0 million upon our successful achievement of certain clinical development, regulatory and sales milestones, in addition to royalty payments on net sales of ublituximab. The license will terminate on a country by country basis upon the expiration of the last licensed patent right or 15 years after the first commercial sale of a product in such country, unless the agreement is earlier terminated.

In connection with the license agreement, our subsidiary TG Biologics issued 7,368,000 shares of its common stock to LFB, and the Company agreed to contribute $15 million, less applicable fees and expenses associated with the financing, to TG Bio to fund the development of ublituximab under the License Agreement in exchange for 7,500,000 shares of TG Bio common stock. The Company recognized approximately $16,578,000 of noncash research and development expense during the six months ended June 30, 2012 in connection with the issuance of these shares. In addition, in connection with the issuance of 7,368,000 shares of TG Bio common stock, the Company and TG Bio provided LFB Group the option to, in its sole discretion, elect to convert all, and not less than all, of the shares of TG Bio common stock into 7,500,000 shares of the Company’s Common Stock. This option may be exercised by LFB Group at any time before May 31, 2013.

Furthermore, should LFB Group choose to exercise the option for Company Common Stock, the Board of Directors of the Company shall appoint an individual designated by LFB Group to serve as a director of the Company until the next annual meeting of the stockholders and until his or her successor has been duly elected. Thereafter the Board of Directors of the Company shall nominate a designee named by LFB Group for election at each annual meeting of the stockholders until such time as LFB Group owns less than 10% of the outstanding Company Common Stock.

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 7 – RELATED PARTY TRANSACTIONS

On December 30, 2011, OPN Capital Markets (“OPNCM”) and its affiliated broker-dealer, National Securities Corporation (“NSC” and collectively with OPNCM, “National”), both affiliates of National Holdings Corporation (“National Holdings”), entered into a Placement Agency Agreement (the “PAA”) with the Company in connection with the initial closing of the 2011 Equity PIPE, offering of up to $25 million of stock and warrants of the Company.  Pursuant to the PAA, National acted as the Company’s placement agent for 2011 Equity PIPE.

Until April 2012, Michael S. Weiss was a director and Non-Executive Chairman of the Board of Directors of National Holdings.  He is also a stockholder of National Holdings and, when combined with his ownership indirectly through Opus and its affiliates, beneficially owns 23.6% of National Holdings, the parent company of NSC. Mr. Weiss disclaims such beneficial ownership other than to the extent of his pecuniary interest. In addition, at the time, Opus and NSC were parties to a 50/50 joint venture that shared profits from OPNCM, the investment banking division of NSC that was responsible for managing the Offering. This joint venture was dissolved in April 2012.

As placement agent, National received cash commissions equal to 10% of the gross proceeds of the 2011 Equity PIPE, five-year warrants to purchase shares of Company Preferred Stock equal to 10% of shares sold in the 2011 Equity PIPE, and a non-accountable expense allowance equal to two percent of the gross proceeds of the 2011 Equity PIPE for National’s expenses (not including up to $80,000 of National’s legal expenses and any blue sky fees, both of which the Company also reimbursed). In addition to acting as placement, National provided advisory services in connection with the Exchange Transaction and received an advisory fee of $150,000 for such services.

Under the terms of the Company’s License Agreement with LFB Group, the Company utilizes LFB Group for certain development and manufacturing services. The Company recognized approximately $1,258,000 in such expenses during the three and six months ended June 30, 2012, which has been included in other research and development expenses in the accompanying condensed consolidated financial statements.

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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Liabilities Measured On Recurring And Nonrecurring Basis [Table Text Block]

The following table provides the fair value measurements of applicable financial liabilities as of December 31, 2011 and June 30, 2012:

	Financial liabilities at fair value as of December 31, 2011
	Level 1		Level 2		Level 3		Total
5% Notes	$	—	$	—	$	4,664,697	$	4,664,697
Totals	$	—	$	—	$	4,664,697	$	4,664,697

	Financial liabilities at fair value as of June 30, 2012
	Level 1		Level 2		Level 3		Total
5% Notes	$	—	$	—	$	4,395,100	$	4,395,100
Totals	$	—	$	—	$	4,395,100	$	4,395,100

Change In Level Three Fair Value During Period [Table Text Block]

The following table summarizes the changes in Level 3 instruments during the six months ended June 30, 2012:

Fair value at December 31, 2011	$	4,664,697
Interest accrued on face value of 5% Notes		418,256
Change in fair value of Level 3 liabilities		(687,853	)
Fair value at June 30, 2012	$	4,395,100

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NOTES PAYABLE (Details Textual) (USD $)	1 Months Ended		6 Months Ended		15 Months Ended				0 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2011	Oct. 30, 2009	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Dec. 29, 2011	Nov. 01, 2011	Oct. 27, 2011	Mar. 08, 2010 Icon Clinical Research [Member]	Jun. 30, 2012 Icon Clinical Research [Member]	Jun. 30, 2012 Icon Clinical Research [Member]	Mar. 31, 2011 Icon Clinical Research [Member]	Mar. 31, 2011 Icon Clinical Research [Member] Before Amendment [Member]	Mar. 31, 2011 Icon Clinical Research [Member] After Amendment [Member]	Mar. 08, 2010 Convertible Notes Payable [Member]
Business Acquisition, Cost of Acquired Entity, Cash Paid		$ 200,000
Business Acquisition Cost Of Acquired Entity Promissory Note Issued								250,000
Debt Instrument Renegotiated Price							200,000
Debt Instrument, Interest Rate, Stated Percentage			5.00%		5.00%				5.00%	5.00%	5.00%		5.00%	8.00%
Percentage Of Cash Proceeds From Operation To Repay Interest On Convertible Debt	50.00%
Debt Instrument, Convertible, Conversion Price														$ 562.50	$ 1,125
Long-term Debt, Gross	16,883,000		17,302,000		17,302,000	16,876,000
Accounts Payable									1,275,188
Payments of short-term loans			200,000	0	200,000				275,188
Debt Instrument, Periodic Payment, Principal											27,778
One Time Settlement Amount For Waiver Of Interest												100,000
Interest and Debt Expense										15,150	30,003
Notes payable, current portion	877,778		677,778		677,778									677,778
Interest payable, current portion	$ 61,941		$ 91,944		$ 91,944
Debt Instrument Repayment Term										36 months	36 months
Waiver Period Interest											13 months

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FAIR VALUE MEASUREMENTS (Details) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Liabilities, Fair Value Disclosure	$ 4,395,100	$ 4,664,697
Fair Value, Inputs, Level 1 [Member]
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Convertible Notes Payable [Member]
Notes Payable, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member]
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Convertible Notes Payable [Member]
Notes Payable, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member]
Liabilities, Fair Value Disclosure	4,395,100	4,664,697
Fair Value, Inputs, Level 3 [Member] | Convertible Notes Payable [Member]
Notes Payable, Fair Value Disclosure	4,395,100	4,664,697
Convertible Notes Payable [Member]
Notes Payable, Fair Value Disclosure	$ 4,395,100	$ 4,664,697

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ACQUISITION (Details 2) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Revenue	$ 0	$ 0
Net (loss) income	$ (3,279,539)	$ 552,844
Basic and diluted income per common share (in dollars per shares)	(1.24)	0.21

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Condensed Consolidated Statement of Equity (USD $)	Preferred Stock [Member]	Common Stock [Member]	Contingently Issuable Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit during Development Stage [Member]	Total TG Therapeutics Inc. and Subsidiaries Equity [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2011	$ 413	$ 5,061	$ 6	$ 10,472,115	$ (853,074)	$ 9,624,521	$ 11,681	$ 9,636,202
Balance (in shares) at Dec. 31, 2011	413,388	5,061,399
Changes during the period:
Compensation in respect of restricted preferred stock granted to employees				188,509		188,509		188,509
Preferred stock issued at $20.00 per share, net of expenses	696			12,180,709		12,181,405		12,181,405
Preferred stock issued at $20.00 per share, net of expenses (in shares)	695,428
Shares issued in subsidiary to non-controlling interest in connection with in-licensing agreement						0	16,578,000	16,578,000
Conversion of preferred stock to common stock in conjunction with reverse stock split	(1,109)	9,858		(8,749)		0		0
Conversion of preferred stock to common stock in conjunction with reverse stock split (in shares)	(1,108,816)	9,857,596
Issuance of restricted stock		3,135		(3,135)		0		0
Issuance of restricted stock (in shares)		3,135,000
Compensation in respect of restricted common stock granted to employees, directors and consultants				1,171,991		1,171,991		1,171,991
Consolidated net loss					(12,150,743)	(12,150,743)	(7,819,954)	(19,970,697)
Balance at Jun. 30, 2012	$ 0	$ 18,054	$ 6	$ 24,001,440	$ (13,003,817)	$ 11,015,683	$ 8,769,727	$ 19,785,410
Balance (in shares) at Jun. 30, 2012	0	18,053,995

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ACQUISITION

6 Months Ended

Jun. 30, 2012

Business Acquisition, Date Of Acquisition [Abstract]

Business Combination Disclosure [Text Block]

NOTE 3 - ACQUISITION

On December 29, 2011, the Company completed a reverse acquisition of privately held TG Bio, a Delaware Corporation. The acquisition was effected pursuant to an Exchange Transaction Agreement (the “Agreement”) dated December 29, 2011 by and among the Company, TG Bio and Opus, the largest shareholder of TG Bio. In accordance with the terms of the Agreement, 95% of the holders of common stock of TG Bio (one (1) minority shareholder of TG Bio holding in aggregate 132,000 shares of common stock of TG Bio did not participate) surrendered their TG Bio common stock. The Agreement caused the Company to issue to TG Bio’s shareholders 281,250 shares of Company Preferred Stock. Each share of Company Preferred Stock were convertible into 8.89 shares of the Common Stock provided that such conversion rights were subject to sufficient available authorized shares of Common Stock. In connection with the reverse stock split effected by the Company on April 30, 2012 (as discussed above), all shares of preferred stock issued in connection with the Agreement were converted to Common Stock. The Company Preferred Stock issued in connection with the Agreement provided the former TG Bio shareholders with direct and/or indirect ownership of approximately 95% of the Company’s outstanding Company Common Stock immediately following the consummation of the transaction.

The shares of Common Stock issued upon the conversion of the Company Preferred Stock are not registered for resale and, therefore, shall remain subject to the rights and restrictions of Rule 144 under the Securities Act of 1933, as amended.

Based on fair value of the Company’s Common Stock of $2.25 per share at December 29, 2011, the purchase price was $295,933, plus the fair value of restricted stock assumed of $82,305. In connection with the Exchange Transaction, the Company incurred $231,580 of acquisition related costs.

A summary of the purchase price calculation is as follows:

Number of shares of Manhattan common stock outstanding at the time of the transaction		131,526
Multiplied by Manhattan’s fair value of the Common Stock	$	2.25	$	295,933
Fair value of restricted stock assumed				82,305
Total purchase price			$	378,238

The purchase price has been allocated as follows based on the fair values of the assets and liabilities acquired:

Cash and cash equivalents	$	10,386
Other assets		90,770
In-process research and development acquired		5,441,839
Total identifiable assets		5,542,995
Accounts payable and accrued expenses		197,191
Notes payable (ICON and Swiss Pharma)		939,718
5% notes payable and accrued interest		4,657,600
Total identifiable liabilities		5,794,509
Net identifiable liabilities		(251,514	)
Goodwill		629,752
Total	$	378,238

A valuation was performed to determine the fair value of certain identifiable intangible assets of Manhattan.

The fair value of certain identifiable intangible assets was determined using the income approach. This method starts with a forecast of the expected future net cash flows. These cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk of achieving the asset’s projected cash flows. The present value of the estimated cash flows are then added to the present value equivalent of the residual value of the asset, if any, at the end of the discrete projection period to estimate the fair value.

The valuations are based on information that is available as of the acquisition date and the expectations and assumptions that have been deemed reasonable by our management. No assurance can be given, however, that the underlying assumptions or events associated with such assets will occur as projected. For these reasons, among others, the actual results may vary from the projected results.

The following supplemental pro forma information presents the financial results as if the transaction had occurred on January 1, 2011 for the three and six months ended June 30, 2011. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made on January 1, 2011, nor are they indicative of future results.

	Three months ended June 30, 2011			Six months ended June 30, 2011
Revenue	$	—		$	—
Net (loss) income	$	(3,279,539	)	$	552,844
Basic and diluted (loss) income per common share	$	(1.24	)	$	0.21

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ACQUISITION (Details Textual) (USD $)	1 Months Ended		1 Months Ended
	Dec. 31, 2011	Dec. 29, 2011	Dec. 29, 2011 Preferred Stock [Member]
Business Acquisition Shares Repurchased Percentage		95.00%
Business Acquisition Shares Not Acquired		132,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares			281,250
Preferred Stock To Common Stock Conversion Basis Per Share	8.89
Business Acquisition Acquired Entity Shareholders Cumulative Percentage Ownership After All Transactions		95.00%
Business Acquisition Fair Vale Of Shares Issued		$ 2.25
Business Acquisition Fair Valueof Common Stock Outstanding		$ 295,933
Fair Value Of Restricted Shares Acquired		82,305
Business Acquisition, Cost of Acquired Entity, Transaction Costs		$ 231,580

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	1 Months Ended	6 Months Ended	1 Months Ended		6 Months Ended
	Dec. 31, 2011	Jun. 30, 2012	Dec. 30, 2011 Two Thousand and Eleven Issuance [Member] Private Placement [Member]	Jun. 30, 2012 Two Thousand and Twelve Issuance [Member]	Jun. 30, 2012 Two Thousand and Twelve Issuance [Member] Series Preferred Stock [Member]
Deficit accumulated in development stage	$ 853,074	$ 13,003,817
Stock Issued During Period, Shares, New Issues			4,929,523
Common Stock, Par Or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001
Fair Value Per Share Issued			$ 2.25		$ 20
Proceeds from Issuance of Private Placement			11,091,425		695,428
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			1,232,381	1,545,396
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.25	$ 2.25
Class Of Warrant Or Rights Exercisable Period			5 years	5 years
Preferred stock issued at $20.00 per share, before placement commissions and expenses					$ 13,908,560
Preferred Stock To Common Stock Conversion Basis Per Share	8.89
Stockholders' Equity Note, Stock Split, Conversion Ratio		(56.25)
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		7,433,525
Cash Equivalents Maturity Period		3 months