TG Therapeutics (TGTX) Seen Firing on All Cylinders Post-Q2 Results; Roth Affirms at 'Buy'

August 8, 2016 1:56 PM EDT
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Price: $5.82 -4.59%

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Roth Capital affirms TG Therapeutics (NASDAQ: TGTX) at Buy/Focus Pick with a price target of $33 amid Q2 results reported earlier Monday.

Analyst Joseph Pantginis commented, The GENUINE Phase III (under SPA) is now enrolling at >150 U.S. sites and complete enrollment is expected by year-end and top-line data in 1H17. TG instituted a new screening protocol based on KOL feedback, which was meant to bolster enrollment for both GENUINE and UNITY-CLL and we believe this initiative is starting gain traction. The UNITY-CLL Phase III (under SPA) has 60 sites online with the goal of 100 sites in the U.S. and 50 in Israel and the E.U. by the end of 2018.

In addition, registration for UNITY-DLBCL Phase IIb study should be opened soon and plans to open registration for indolent lymphomas UNITY study are underway. The company has also started its planned Phase II with '1101 in MS patients, starting the company's foray into autoimmune disorders; enrollment in initial pre-specified cohorts is expected to be completed by the end of the year. Initial B-cell depletion data are expected late 2016 or early 2017 at the appropriate forum. The data will be used to identify optimal dose and strategy for a Phase III study which is expect to start in 1H17.

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