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TG Therapeutics Briumvi Deal Fails To Impress The Market

Shares Down Nearly 50%

 
• By Kevin Grogan

Linking up with Germany’s Neuraxpharm to sell the multiple sclerosis drug Briumvi in Europe and elsewhere has gone down badly with investors but the bashing that TG Therapeutics’ shares has taken seems excessive.

share price
• Source: Shutterstock

The news that TG Therapeutics, Inc. has found a partner to sell its multiple sclerosis drug Briumvi outside the US has not gone down as well as the company would have hoped, with the New York-based biotech's stock losing nearly half its value.

The European Commission granted approval of Briumvi (ublituximab) for adults with relapsing forms of MS in June and TG Therapeutics trumpeted that the thumbs-up, which came six months after US approval, meant its drug would be the only approved anti-CD20 monoclonal antibody that can be administered in a one-hour infusion every six months following the starting dose

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