What's Going On With TG Therapeutics Stock?
Portfolio Pulse from Erica Kollmann
TG Therapeutics, Inc. (NASDAQ:TGTX) shares are trading lower by 5.2% despite a recent 18% increase over five days. The company has acquired a license for a CAR T cell therapy program, azer-cel, from Precision BioSciences, Inc. (NASDAQ:DTIL) for non-oncology indications. TG Therapeutics will pay Precision $17.5 million upfront and potential near-term payments. The company aims to file an IND for azer-cel by mid-2024. TGTX's stock is above its 50-day moving average and has a high short interest of 29.7%.
January 09, 2024 | 4:36 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
TG Therapeutics' stock is trading lower by 5.2% but has seen an 18% rise over the past week. The acquisition of azer-cel may bolster its autoimmune portfolio and has potential for future growth.
The short-term impact on TGTX is neutral to slightly positive. The recent acquisition is a strategic move to expand its portfolio, which could lead to long-term benefits. However, the high short interest indicates market skepticism, contributing to current volatility.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Precision BioSciences is set to receive $17.5 million upfront and potential near-term payments from TG Therapeutics for the license of azer-cel, which could positively impact its financials.
The deal with TG Therapeutics provides Precision BioSciences with immediate and potential future revenue, which is likely to be viewed positively by investors in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80