TG Therapeutics Inc (NASDAQ:TGTX) announced that the independent Data Safety Monitoring Board (DSMB) providing oversight for the UNITY-CLL Phase 3 trial reviewed the cumulative safety data from the ongoing clinical study and informed the Company that it has identified no safety concerns, and recommended the continuation of the study with no modifications.
Per the protocol’s pre-specified DSMB charter, the DSMB is scheduled to meet approximately every 6-9 months to review cumulative safety data.
“We are encouraged by the positive outcome of the first DSMB safety review, especially since over two-thirds of the patients currently enrolled in the study are treatment naive CLL patients. Many may recall, as reported by Dr. Jennifer Brown at last year’s ASH meeting, and published earlier this year in Blood, that idelalisib in treatment naive CLL patients was observed to cause rapid (most within < 5 weeks) and profound (Grade 3/4) liver toxicity in approximately 50% of the patients treated. Given those findings, we are pleased to report that the DSMB did not find any safety concerns and recommended the study continue without modification,” stated Michael S. Weiss, the Company’s Executive Chairman and Interim Chief Executive Officer.
Mr. Weiss continued, “We are also excited to report that the UNITY-CLL study continues to enroll well and we are still targeting completion of enrollment in the first half of 2018.” (Original Source)
Shares of TG Therapeutics are currently trading at $6.13, up $0.08 or 1.34%. TGTX has a 1-year high of $14.87 and a 1-year low of $4.90. The stock’s 50-day moving average is $7.63 and its 200-day moving average is $6.86.
On the ratings front, TG Therapeutics has been the subject of a number of recent research reports. In a report issued on November 7, FBR analyst Edward White reiterated a Buy rating on TGTX, with a price target of $24, which represents a potential upside of 297% from where the stock is currently trading. Separately, on the same day, Roth Capital’s Joseph Pantginis reiterated a Buy rating on the stock and has a price target of $33.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Edward White and Joseph Pantginis have a yearly average loss of 1.8% and 11.9% respectively. White has a success rate of 37% and is ranked #3529 out of 4235 analysts, while Pantginis has a success rate of 37% and is ranked #4137.
Sentiment on the street is mostly bullish on TGTX stock. Out of 4 analysts who cover the stock, 4 suggest a Buy rating. The 12-month average price target assigned to the stock is $23.00, which implies an upside of 280% from current levels.
TG Therapeutics, Inc. is a biopharmaceutical company. It is focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. The company develops two therapies targeting hematological malignancies: TG-1101 and TGR-1202.