2024-02-08 06:48:31 ET
Summary
- BRIUMVI sets the standard for CD20 administration with efficient twice-yearly 1-hour infusions.
- BRIUMVI should remain competitive with subcutaneous formulations.
- Whether or not BTKIs erode the long-term market for CD20s in coming years remains to be seen.
In this article, I infer expectations implied by TG Therapeutics' (TGTX) stock price to model Bear, Base, Bull, and Aggressive Bull Case scenarios. I also discuss BRIUMVI's competitive positioning within the CD20 market.
I believe TG's opportunity to achieve $1 billion in net product sales for BRIUMVI is very attainable. It is just a matter of when. The global market for relapsing forms of Multiple Sclerosis ((RMS)) is vast, and BRIUMVI offers market fit and a competitive edge in the growing CD20 class. My Base Case values shares of TG Therapeutics at $24 a share, an upside of approximately 50%. As my Bull Case and Aggressive Bull Case models show, much higher values for the Company can be substantiated if growth exceeds expectations. I remain bullish on shares of TGTX.
Background
TG's BRIUMVI received FDA approval for the treatment of relapsing forms of MS on December 28, 2022. BRIUMVI is a 3rd generation anti-CD20 monoclonal antibody (CD20), glycoengineered to enhance its potency, especially antibody-dependent cell-mediated cytotoxicity ((ADCC)) activity, offers patients fast 1-hour infusions, and achieved annual relapse rates ((ARR)) below 0.10 in clinical trials....
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TG Therapeutics: Inferred Expectations Point To Undervalued Shares