TG Therapeutics Inc (NASDAQ:TGTX) stock has been in utmost focus in the last few trading session. The major reason behind this growing interest in the firm’s stock is a bullish report from Aegis Capital. Its analyst Jason Wittes rated the stock a ‘Buy’ with a price target of $26, which shows 410% upside from the current price.
Aegis Capital’s analyst reported that TG Therapeutics program to package its two prime oncology product candidates, TGR-1202 and TG-1101, at extremely competitive prices, should delight payers. The package boasts Orphan Drug status in the United States for diffuse large B-cell lymphoma. Wittes cites that the start of a Phase III study of TG-1101 in numerous sclerosis later this year.
Earlier TG Therapeutics reported the publication of clinical report from a Phase 1/2 study of TG-1101, its glycol-engineered anti-CD20 monoclonal antibody, in subjects with B-cell NHL or Chronic Lymphocytic Leukemia previously exposed to rituximab. The report shows single agent TG-1101 to be tolerated with the most usual adverse event seen being grade 1/2 IRR, with nil grade 3/4 IRRs.
Drug’s monotherapy was active, with an ORR of 45% noted among heavily pretreated subjects with CLL and NHL, counting those who were not responsive to previous anti-CD20 based treatment. This report is detailed further in the manuscript which was published in the British Journal of Hematology.
Michael S. Weiss, the Executive Chairman and CEO of TG Therapeutics, reported that they intend to acknowledge Dr. Owen O’Connor efforts for Phase 1/2 study of single agent TG-1101. Since the inception of company, they have been focused on advancing premium agents with the objective of building unique combination treatments.
This single agent report shows that TG-1101 is a promising candidate on top of which more therapies can be layered. The speed of infusion, response rates observed and safety profile, with TG-1101, particularly in rituximab-refractory patients, provides a foundation for their belief that TG-1101 is a promising candidate.