DTIL - TG Therapeutics: The Cloud Over Briumvi

2024-04-17 10:24:12 ET

Summary

• TG Therapeutics shares are down 60% from their 52-week high after rival MS therapy Ocrevus achieved non-inferiority as a subcutaneously injected therapy.
• Initial sales of TG Therapeutics' anti-CD20 MS treatment Briumvi were solid, generating $92 million in FY23, with expectations of over $260 million in FY24.
• TG Therapeutics is developing a subcutaneously injected version of Briumvi to compete with Roche's SC Ocrevus, which is expected to be approved in 2024.
• Are the shares of TG Therapeutics oversold or likely to continue to be under pressure? An analysis follows in the paragraphs below.

Today, we take a look at TG Therapeutics ( TGTX ) for the first time in years. The shares of this B-cell therapy concern are down some 60% from their 52-week high after rival multiple sclerosis therapy Ocrevus achieved non-inferiority as a subcutaneously injected therapy. Meanwhile, initial sales of the company’s anti-CD20, IV-administered MS treatment Briumvi were solid, achieving $92 million in FY23, with FY24 Street expectations north of $260 million. An analysis follows below....

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