Why TG Therapeutics Stock Is Crashing Today

Shares of TG Therapeutics (NASDAQ: TGTX) were crashing 50.4% lower as of 11:12 a.m. ET on Tuesday. The huge sell-off came after the company announced its second-quarter results.

Total net product revenue was $16 million in the second quarter. Multiple sclerosis (MS) drug Briumvi, which launched in the U.S. in late January, generated all of the product sales in the quarter.

CEO Michael Weiss said in TG Therapeutics' press release that Briumvi sales "exceeded our expectations." But the MS drug's sales were well below the analysts' consensus estimate of nearly $17.5 million.

Source Fool.com