Boosting Price Targets on TG

 

• Wednesday, the FDA approved TG Therapeutics Inc's 
  TGTX+ Free Alerts
   Briumvi (ublituximab-xiiy) for relapsing forms of multiple sclerosis (RMS).
• Briumvi is the first and only anti-CD20 monoclonal antibody approved for RMS that can be administered in a one-hour infusion following the starting dose. 
• TG expects to launch Briumvi in the U.S. in 1Q23 commercially. 
• HC Wainwright reiterates a Buy rating for the stock with a price target of $24, up from $19.
• The analyst writes that a faster infusion time could enable Briumvi to gain share quickly, and there could be a large opportunity in this indication for a small disruptive sales force. 
• In the U.S., it is estimated that the top 550 accounts account for >70% of patient volume. A potential European approval could occur in late 2023. 
• Management has previously noted that about 20% of the global MS sales market for CD20 inhibitors could come from Europe, with the German market being the most important. 
• Management has not yet decided whether it will partner with Briumvi in Europe or go alone. 
• HC Wainwright estimates sales of $46.1 million in 2023 for Briumvi in MS, growing to $558.8 million in 2028. 

https://www.benzinga.com/general/biotech/22/12/30228847/now-that-fda-approved-tg-therapeutics-multiple-sclerosis-treatment-analyst-are-boosting-price-tar