TG Therapeutics up after raising FY sales forecast for its multiple sclerosis drug

TG Therapeutics

06/08/2024 12:46

** Shares of drugmaker TG Therapeutics  TGTX.O  rise 17.6%
to $20.23 premarket 
    ** Co raises 2024 net product sales forecast for its
multiple sclerosis drug, Briumvi, to about $290 mln to $300 mln,
vs. its prior range of $270 mln to $290 mln 
    ** Reports Q2 revenue of $73.47 mln vs. $16.07 mln a year
ago  
    ** Co had cash, cash equivalents and investment securities
of $217.3 mln as of June 30, 2024 
    ** Co establishes a new five-year $250 mln credit facility
to repay existing debt and to fund the buy-back of up to $100
mln of its outstanding shares 
    ** Up to last close, stock mostly flat YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))