TG Therapeutics Plummets Due To Disappointing Clinical Trial Results

TG Therapeutics is an American company that manufactures medicines against B-cell malignant tumors and diseases associated with a violation of the human immune system. Its range of products that claim to be therapeutic drugs includes Ublituximab, a monoclonal antibody for the treatment of B-cell Non-Hodgkin’s lymphoma and CLL, and Umbralisib, which is for CLL and follicular lymphoma. Yesterday, its stock plummeted 42% to a new yearly low of $8.25. Its price keeps dropping in pre-market, and at the moment one TGTX is worth $8. At the beginning of this month, it cost almost three times more.

TG Therapeutics

The company’s CEO, Michael Weiss, announced the FDA’s temporary suspension of the UNITY-CLL trial, which tested two TG Therapeutics products: the U2 combination UKONIQ or Umbralisib and Ublituximab. According to him, the overall survival (OS) hazard ratio exceeded 1, amounting to 1.23. If the OS exceeds 1.00, then this indicates that the study drug is harmful to health. Because of this, new patients cannot be enrolled in the CLL and NHL trials. A meeting of the Advisory Committee on Oncology Drugs is scheduled for this spring to consider other issues that have arisen.