NEW YORK - TG Therapeutics, Inc. (NASDAQ: NASDAQ:TGTX) has revealed additional data from its ULTIMATE I & II Phase 3 trials assessing BRIUMVI® (ublituximab-xiiy) for relapsing forms of multiple sclerosis (RMS).
The presentations occurred at the American Academy of Neurology's annual meeting in Denver, Colorado. The company's CEO, Michael S. Weiss, expressed the firm's dedication to MS research and its intention to continue analyzing and presenting data from the trials.
The new data includes a post-hoc analysis showing that BRIUMVI® significantly reduced radiological disease activity at 12 weeks in participants with highly active disease. Another presentation suggested that earlier initiation of BRIUMVI® treatment is associated with improved disability outcomes among treatment-naive participants. Both studies were led by Dr. Derrick Robertson from the University of South Florida Morsani College of Medicine.
ULTIMATE I & II are randomized, double-blind, parallel group, active comparator-controlled clinical trials that enrolled a total of 1,094 patients with RMS across 10 countries. Patients were treated for 96 weeks with either BRIUMVI® or the active comparator teriflunomide. BRIUMVI® is a novel monoclonal antibody that targets CD20-expressing B-cells, and it has been approved for the treatment of adults with RMS.
TG Therapeutics is a commercial stage biopharmaceutical company focused on novel treatments for B-cell diseases. BRIUMVI® is one of their FDA-approved products for RMS treatment. The company also provides a patient support program for U.S. patients undergoing treatment with BRIUMVI®.
This news article is based on a press release statement from TG Therapeutics, Inc.
InvestingPro Insights
As TG Therapeutics (NASDAQ: TGTX) continues to make strides in the treatment of relapsing forms of multiple sclerosis (RMS) with BRIUMVI®, the financial metrics and market performance of the company offer additional insights. With a market capitalization of approximately $2 billion, TGTX showcases significant investor interest in its innovative healthcare solutions. The company's commitment to advancing MS research is also reflected in its robust gross profit margin, which stands at an impressive 93.95% over the last twelve months as of Q1 2023. This high margin underscores the company's ability to manage costs effectively while developing its therapeutic offerings.
Despite the positive gross profit margin, TGTX trades at a high Price/Earnings (P/E) ratio of 157.9, suggesting that the market has high expectations for the company's future earnings. This is further emphasized by the fact that two analysts have revised their earnings upwards for the upcoming period, indicating a potential for growth that the market may be anticipating. However, it's important to note that the stock has experienced significant volatility, with a large price uptick over the last six months, yet also showing a year-to-date price total return of -19.09%.
For those considering an investment in TGTX, the Relative Strength Index (RSI) suggests that the stock is currently in oversold territory. This could be an opportunity for investors to consider entry points, keeping in mind the company's performance and the market's sentiment. For more detailed analysis and additional InvestingPro Tips, investors can visit InvestingPro where 15 additional tips are available. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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