Company Update (NASDAQ:TGTX): TG Therapeutics Inc Sets Corporate Goals and Objectives for 2016
TG Therapeutics Inc (NASDAQ:TGTX) announced its key corporate goals and objectives for 2016, which include the following:
- Aggressively recruit into the GENUINE Phase 3 Clinical Trial of TG-1101 in combination with ibrutinib, which is now open in over 150 sites, with the goal of completing enrollment by YE16
- Aggressively enroll into the UNITY-CLL combination Phase 3 clinical trial, of the Company’s proprietary combination of TG-1101 plus TGR-1202 (aka “TG-1303”)
- Commence the UNITY- DLBCL Phase 2b/3 clinical trial
- Initiate a Phase 1/2 clinical trial in Multiple Sclerosis (MS)
- Commence a registration trial for iNHL in the 2H16
- Present updated data on the Phase 1 and 2 clinical trials at major hematology/oncology conferences during 2016
“We enter 2016 with great optimism for the Company and our product candidates and the prospect of developing best-in-class treatment options for patients with B-cell malignancies. As each year passes we become more convinced that controlling key components of combination treatments and offering package pricing will be critical to ensuring all patients have access to the best care possible,” stated Michael S. Weiss, the Company’s Executive Chairman and Interim CEO. Mr. Weiss continued, “The objectives we have set for 2016 will mark a clear transformation for TG, with year-end 2016 seeing at least four ongoing registration directed clinical trials in oncology, commencement of our MS program, and most importantly, completion of enrollment into our first Phase 3 study, setting the stage for the possible launch of our first product in late 2017.” (Original Source)
Shares of TG Therapeutics closed last Friday at $8.90. TGTX has a 1-year high of $20 and a 1-year low of $7.68. The stock’s 50-day moving average is $11.35 and its 200-day moving average is $13.41.
On the ratings front, TG Therapeutics has been the subject of a number of recent research reports. In a report issued on December 8, Brean Murray Carret analyst Jonathan Aschoff reiterated a Buy rating on TGTX, with a price target of $28, which represents a potential upside of 214.6% from where the stock is currently trading. Separately, on December 7, Roth Capital’s Joseph Pantginis maintained 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, Jonathan Aschoff and Joseph Pantginis have a total average return of -11.9% and -12.8% respectively. Aschoff has a success rate of 32.2% and is ranked #3543 out of 3582 analysts, while Pantginis has a success rate of 31.8% and is ranked #3566.
TG Therapeutics Inc is a biopharmaceutical company. It is engaged in the acquisition, development & commercialization of medically important pharmaceutical products for the treatment of cancer & other underserved therapeutic needs.