The turmoil in the stock markets has been quite damaging over the past months, and with the reopening of the economy, the markets seem to be getting back to normal surely. Hence, it could be worthwhile for investors to take a closer look at certain stocks. One such stock is TG Therapeutics Inc (NASDAQ:TGTX), which has managed to perform impressively in the middle of these troubles and gained as much as 58% over the past month. However, it should be noted that it was not a steady rally. The stock recorded most of its gains on the back of a single update.
Key Things to Watch
It commenced when TG reported positive data from the Phase 3 trial of its combination therapy U2 meant for treating chronic lymphocytic leukemia (CLL). It proved to be a significant boost for the company, and TG even managed to raise as much as $75 due to the rally. Later on, in May, the company made a public offering of its common stock and raised another $175 million.
Although the company’s stock was diluted, it managed to hold on to its gains in June. TG has started working on two blood cancer products in 2019. One is U2, and the other is a triple combination therapy that also includes U2.
Investors should also note that in the Phase 3 study, the latter actually produced better results than U2, and it indicates that TG might have two effective products for treating blood cancers. The company aims to submit a new drug application by the end of this year.
On May 12, the company announced its financial results for the fiscal first quarter on May 12 and reported a loss of as much as $51.1 million. That worked out to losses of 48 cents a share and surpassed analysts’ estimates of 37 cents a share. Revenues for the period came in at $38,000.