Andrzej Rostek
- TG Therapeutics (NASDAQ:TGTX), the maker of a number of sclerosis remedy Briumvi, traded larger on Wednesday after German drugmaker Merck KGaA (OTCPK:MKGAF) (OTCPK:MKKGY) stated its rival product evobrutinib failed in two Part 3 trials.
- In response, B Riley analyst Mayank Mamtani argued that the setback cleared a serious overhang for TG Therapeutics (TGTX) shares. In December, the FDA accepted Briumvi, an anti-CD20 monoclonal antibody for adults with relapsing types of a number of sclerosis.
- TGTX launched it for $59K (or ~$9.8K per vial) in January, taking up Roche (OTCQX:RHHBY) (OTCQX:RHHBF) and Novartis (NVS) (OTCPK:NVSEF), which additionally market therapies for the central nervous system ((CNS)) dysfunction.
- “We anticipate this enables Road to focus now nearly solely on TGTX’s industrial execution,” Mamtani wrote with a Purchase ranking and a $24 per share goal on the inventory.