Biotech investors live for the day when one of their companies gets an investigational therapy approved. That happy circumstance occurred very recently for TG Therapeutics (NASDAQ: TGTX); as a result, the company's share price blasted almost 46% higher this week, according to data compiled by S&P Global Market Intelligence.

On Wednesday, TG Therapeutics divulged the happy news that it earned Food and Drug Administration (FDA) approval for multiple sclerosis (MS) drug ublituximab-xiiy, brand-named Briumvi. The approval covers the treatment of relapsing forms of MS, which includes clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease. The approval is for adult use.

Briumvi is an infusion drug, the administration of which consists of a day one infusion, a day 15 infusion, and follow-up infusions given every 24 weeks.

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Source Fool.com