Why TG Therapeutics Stock Was Rocketing Higher This Week

Commercial-stage biotech TG Therapeutics (NASDAQ: TGTX) was having a fine week on the stock exchange, thanks in no small part to an investor-pleasing earnings report. It unveiled its first-quarter fundamentals on Wednesday, and was quite the hot item in subsequent days. According to data compiled by S&P Global Market Intelligence, as of early Friday morning its share price was up by almost 22% week to date.TG Therapeutics' nearly $50.5 million in first-quarter product revenue derived entirely from sales of its drug Briumvi, which treats relapsing multiple sclerosis (RMS). Combining that with license, milestone, and royalty revenue, the biotech company's top line totaled just under $63.5 million.Briumvi won its first Food and Drug Administration (FDA) approval at the end of 2022, so it hasn't been on the market long -- hence the dramatic increase in company revenue over the first-quarter 2023 tally of $7.8 million.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel