TG Therapeutics Inc (NASDAQ:TGTX) announced that updated data for TG-1101 (ublituximab), the Company’s novel, glycoengineered anti-CD20 monoclonal antibody, and TGR-1202, the Company’s next generation PI3K delta inhibitor, has been selected for presentation at the upcoming 57th American Society of Hematology Annual Meeting (ASH), to be held December 5-8, 2015, at the Orange County Convention Center in Orlando, Florida.
Michael S. Weiss, Executive Chairman and Interim Chief Executive Officer of TG Therapeutics, stated “We are very excited to be able to provide updates on our key Phase 1 and 2 clinical studies for TG-1101 and TGR-1202 at the upcoming ASH conference. With patients now on once-daily TGR-1202 for durations of over 2.5 years, we and our investigators continue to believe that TGR-1202 has a differentiated safety profile in comparison to other PI3K delta inhibitors and continues to pair nicely with TG-1101 in our proprietary “TG-1303″ regimen, which we believe exhibits best-in-class attributes that not only supports our recently announced Phase 3 UNITY-CLL study, but provides a safe and highly active backbone for building novel triple and potentially quad therapies. We are also excited to report data from the first triple therapy of TGR-1202 plus chemotherapy plus a glycoengineered anti-CD20 monoclonal antibody (obinutuzumab) which appeared to be well tolerated with a high level of activity in both front-line CLL patients and patients refractory to BTK inhibitors. We believe these data further support our UNITY-CLL study and also provide a nice comparison to TG-1303, especially from a safety standpoint. Finally, there will be one pre-clinical oral presentation that elucidates a very novel and exciting mechanism of TGR-1202, that is unique to TGR-1202 as opposed to other PI3K delta inhibitors and could have broad ranging implications for certain combinations in both liquid and solid tumors,” stated Michael S. Weiss, the Company’s Executive Chairman and Interim CEO. He continued, “We are looking forward to sharing the full datasets for these presentations in a few weeks, which will contain more detailed data and additional patients than included in the abstracts.” (Original Source)
Shares of TG Therapeutics closed yesterday at $13.26. TGTX has a 1-year high of $20 and a 1-year low of $9.54. The stock’s 50-day moving average is $12.42 and its 200-day moving average is $14.84.
On the ratings front, TG Therapeutics has been the subject of a number of recent research reports. In a report issued on October 12, Brean Murray Carret analyst Jonathan Aschoff reiterated a Buy rating on TGTX, with a price target of $28, which represents a potential upside of 111.2% from where the stock is currently trading. Separately, on September 18, 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 -1.9% and -3.1% respectively. Aschoff has a success rate of 41.6% and is ranked #3377 out of 3824 analysts, while Pantginis has a success rate of 37.3% and is ranked #3660.
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.