What's Behind TG Therapeutics Inc.'s 14.4% Rally in July?
Shares of TG Therapeutics Inc. (NASDAQ: TGTX) gained 14.4% in July, according to data from S&P Global Market Intelligence, despite a lack of positive announcements. It doesn't take much to move a clinical-stage biotech stocks by double-digit percentages, and I'd wager investors digesting developments that took place during the previous month played a role in this price bump.
In June, TG Therapeutics announced positive results from a pivotal trial with its lead drug candidate plus Imbruvica for the treatment of high-risk chronic lymphocytic leukemia. Adding ublituximab to the star blood-cancer therapy from AbbVie and Johnson & Johnson led to a 78% objective response rate, and drove the disease into complete remission for 7% of patients. None of the patients given Imbruvica plus a placebo experienced a complete remission and just 45% achieved an objective response.
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Source: Fool.com