TG Therapeutics Completes Share Buyback, Launches New Program

Completion of Share Repurchase Program

TG Therapeutics, Inc. (NASDAQ: TGTX) has successfully completed its previously authorized $100 million share repurchase program. This milestone reflects the company’s ongoing commitment to shareholder value and strategic financial management. During the course of this program, approximately 3.5 million shares were repurchased, effectively demonstrating TG Therapeutics' confidence in its growth potential and market position.

New Share Repurchase Authorization

In line with its financial strategy, the Board of Directors at TG Therapeutics has authorized a new share repurchase program. This will allow the company to buy back up to an additional $100 million in common stock. The method of acquisition may vary and includes open market purchases and privately negotiated transactions, all compliant with securities regulations. This new program is designed to enhance shareholder value amidst fluctuating market conditions.

Statement from Management

Michael S. Weiss, the Chairman and CEO, has expressed the company’s enthusiasm regarding the completion of the initial repurchase program. He noted that in August alone, they repurchased approximately $78 million worth of stock, underscoring their view that the current market does not fully reflect the true value of TG Therapeutics and its flagship drug, BRIUMVI. Weiss stated that this initiative highlights the company’s dedication to delivering value to its shareholders.

Understanding BRIUMVI and Its Significance

BRIUMVI (ublituximab-xiiy) stands as a significant advancement in treating autoimmune disorders, specifically relapsing forms of multiple sclerosis (RMS). This innovative monoclonal antibody uniquely targets CD20-expressing B-cells, effectively managing symptoms and disease progression for patients. BRIUMVI has gained regulatory approval in several regions, indicating a broad trust in its therapeutic potential.

How BRIUMVI Works

The design of BRIUMVI allows for efficient depletion of B-cells at lower dosages, primarily through a process known as glycoengineering. This method enhances the medication's efficacy in treating RMS. The demand for such targeted treatments in managing autoimmune diseases is on the rise, pointing towards a promising future for BRIUMVI and TG Therapeutics overall.

Safety and Efficacy Considerations

With any medication, particularly one like BRIUMVI, which is used for complex conditions like RMS, safety and efficacy are of utmost importance. The drug is contraindicated for patients with active hepatitis B virus infections and those with a history of severe infusion reactions. During clinical trials, infusion reactions occurred in a notable number of patients; hence, monitoring during administration is crucial.

Monitoring Treatment Effects

Patients receiving BRIUMVI must be observed for any infusion reactions and other potential side effects, including serious infections and liver injuries. This is particularly important as the treatment can lead to significant immunosuppression, which can increase susceptibility to infections. Healthcare providers should actively monitor patients and manage any adverse reactions promptly.

Future Outlook for TG Therapeutics

TG Therapeutics continues to build on its strong foundation in biopharmaceutical development. With the approval of BRIUMVI, the company is well-positioned in the marketplace, focusing on both current sales and future pipeline developments. There are plans for additional research that may lead to further innovations in treatment options for B-cell diseases. This forward-looking perspective is critical as the company aims to enhance both operational success and patient outcomes.

Engaging with Stakeholders

As a part of its strategy, TG Therapeutics emphasizes the importance of communication with its stakeholders. This includes investors, healthcare professionals, and patients. The company encourages sharing experiences and insights on the efficacy and safety of its products, fostering a collaborative environment that benefits everyone involved.

Frequently Asked Questions

What is TG Therapeutics' recent announcement?

TG Therapeutics announced the completion of its previous share repurchase program and the establishment of a new $100 million repurchase initiative.

What is BRIUMVI?

BRIUMVI is a monoclonal antibody treatment for relapsing forms of multiple sclerosis, designed to target CD20-expressing B-cells and improve patient outcomes.

How does the new share repurchase program work?

The new repurchase program allows the company to buy back its stock through open market purchases and private transactions, enhancing shareholder value.

What are the safety concerns with BRIUMVI?

Safety concerns include infusion reactions and serious infections. Patients must be closely monitored when receiving the treatment to manage potential adverse effects.

How can patients get more information about BRIUMVI?

Patients can access information about BRIUMVI and associated support programs on the company's website or by contacting their healthcare providers.

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