TG Therapeutics gains on lower-than-expected Q1 loss, higher revenue

TG Therapeutics

01/05/2023 16:56

** Shares of biopharmaceutical co TG Therapeutics  TGTX.O 
up 15.86% at $28.77, hitting its nearly 1-1/2 year high 
    ** Co reports lower-than-expected Q1 loss of $0.28 per shr
vs ests of $0.37/share loss - Refinitiv  urn:newsml:reuters.com:*:nGNX3HL3XL
    ** Posts Q1 rev of $7.8 mln, vs 2.0 mln last year, beating
estimates of $3.38 mln, supported by multiple sclerosis drug
Briumvi sales 
    ** Says cash in-hand as of March 31, with existing term loan
facility and projected revenues, will be sufficient to fund
planned operations into mid-2024
    ** In the earnings call, CEO says co sees Europe as another
opportunity to create additional shareholder value by making
Briumvi available internationally
    ** TGTX shares had risen 145% YTD

 (Reporting by Vedant Vinayak Vichare in Bengaluru)
 ((vedant.vinayakvichare@thomsonreuters.com))