Why Is Multiple Sclerosis Focused TG Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Lekha Gupta
TG Therapeutics Inc (NASDAQ:TGTX) reported preliminary net product sales for Q4 and FY23 for BRIUMVI, with expectations of $40 million for Q4 and $89 million for FY23. The company anticipates a year-end 2023 cash position of about $215 million. TGTX provided an outlook for Q1 and FY24, expecting BRIUMVI U.S. net product revenue of $41 million-$46 million and $220 million-$260 million, respectively, and operating expenses of about $250 million for FY24. TGTX plans to initiate clinical development of subcutaneous BRIUMVI and trials for additional autoimmune diseases, as well as a trial for azer-cel. TGTX has entered into a licensing deal with Precision BioSciences, Inc. (NASDAQ:DTIL) for azer-cel, a CD19 CAR T cell therapy program. TGTX shares rose 10.52% to $23.22 in premarket trading.
January 10, 2024 | 1:48 pm
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POSITIVE IMPACT
Precision BioSciences entered into a licensing deal with TG Therapeutics for the non-oncology applications of azer-cel, a CD19 CAR T cell therapy program.
The licensing agreement with TGTX for azer-cel could open up new revenue streams for Precision BioSciences and may positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
TG Therapeutics reported strong preliminary sales for BRIUMVI and a positive revenue outlook for FY24, along with plans for clinical developments and a new licensing deal.
The positive sales report and future revenue outlook for BRIUMVI, along with the strategic licensing deal for azer-cel, are likely to instill investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100