TG Therapeutics Inc (NASDAQ: TGTX) is having an overwhelmingly strong day in the market today, and for good reason. The company announced the publication of data from a key clinical trial. Of course, this led to excitement among investors, sending the stock screaming toward the top. Today, we’ll talk about the data, what we’re seeing from TGTX as a result, and what we’ll be watching for ahead.
TGTX Gains On Data Publication
As mentioned above, TG Therapeutics is having an overwhelmingly strong day in the market today after publishing positive clinical data. In a press release issued early this morning, the company announced the publication of results from a Phase 1 clinical trial of umbralisib (TGR-1202). Umbralisib is the company’s novel once-daily PI3K delta inhibitor. The data was published in The Lancet Oncology.
According to TGTX, the data that was published includes safety and efficacy information from 90 patients with relapsed or refractory b-cell malignancies. This includes patients with Chronic Lymphocytic Leukemia as well as various forms of lymphoma. The patients were treated with umbralisib, showing strong clinical activity. In a statement, Michael S. Weiss, Executive Chairman and CEO at TGTX, had the following to offer:
We want to thank Dr. Burris, Dr. O’Connor and all the investigators who participated in this first-in-human Phase 1 trial for umbralisib, which has set the stage for our ongoing pivotal UNITY-CLL and UNITY-NHL trials. With over 1,000 patients treated with umbralisib to date, we and the investigators believe umbralisib is a differentiated, active and more selective PI3K delta inhibitor that exhibits a favorable safety profile as compared to prior generation molecules.
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. In the case of TG Therapeuitcs, the news proved to be overwhelmingly positive. So, it’s no surprise that we’re seeing strong, excitement-fueled gains in the value of the stock today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:28), TGTX is trading at $14.15 per share after a gain of $1.55 per share (12.30%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TGTX. In particular, we’re interested in following the ongoing development of umbralisib, as the treatment seems to be an overwhelmingly promising candidate. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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