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source: Benzinga
tickers affected by this
| ticker | polarity | why? |
|---|---|---|
| TGTX | positively | The acquisition of a worldwide license to Precision BioSciences’ therapy program will allow TG Therapeutics to expand its autoimmune portfolio and explore the potential of azer-cel as a therapy for patients with various autoimmune disorders, which could lead to future revenue growth and increased investor interest in the stock. |
| DTIL | positively | Based on the article, it is likely that the ticker DTIL will be affected positively by the agreement as it grants TG Therapeutics exclusive rights to develop and commercialize Precision BioSciences’ allogeneic CD19 CAR T cell therapy program for non-oncology indications, potentially leading to increased revenue and market opportunities for DTIL. |
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What’s Going On With TG Therapeutics Stock?
TG Therapeutics, Inc. (TGTX) shares are experiencing a decline in trading on Tuesday, despite the stock’s recent 18% increase over the past five days. Here’s a closer look at the latest developments.
TG Therapeutics has announced that it has entered into an agreement with Precision BioSciences, Inc. (DTIL) to acquire a worldwide license to Precision’s Azercabtagene Zapreleucel (azer-cel), an allogeneic CD19 CAR T cell therapy program. This program is intended for the treatment of autoimmune diseases and other non-oncology indications.
Under the terms of the agreement, TG Therapeutics will gain exclusive worldwide rights to develop and commercialize azer-cel for non-oncology indications. In exchange, Precision will receive upfront and potential near-term payments valued at $17.5 million.
TG Therapeutics CEO, Michael S. Weiss, expressed excitement about expanding their autoimmune portfolio and leveraging their drug development and commercialization expertise through this partnership with Precision. He stated that they are looking forward to exploring the potential of azer-cel as a therapy for patients with various autoimmune disorders, with a target IND filing expected in mid-2024.
According to data from our pro subscription, TG Therapeutics shares are currently trading above the stock’s 50-day moving average of $13.90. Additionally, approximately 29.7% of shares are being sold short, which may contribute to recent price volatility.
As of the time of publication, TG Therapeutics shares are down 5.2% at $20.19.
*This article is for informational purposes only and does not constitute investment advice.
