H.C. Wainwright has reaffirmed its Buy rating and $49.00 price target for shares of TG Therapeutics (NASDAQ: NASDAQ:TGTX).
The firm's endorsement follows the recent presentation of new data from TG Therapeutics' Phase 3b ENHANCE trial for its drug Briumvi, used in the treatment of relapsing forms of multiple sclerosis (RMS).
The data was presented at the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) annual meeting on September 18, 2024.
The ENHANCE trial is a 48-week, open-label, multi-center study that evaluates the efficacy, safety, and tolerability of Briumvi in patients transitioning from another IV anti-CD20 antibody treatment.
Briumvi, a novel glycoengineered anti-CD20 monoclonal antibody, was approved for the treatment of RMS, including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults, and was commercially launched in January 2023.
The new trial data highlights the ease of switching to Briumvi, with a significant reduction in infusion time from two hours with Ocrevus (ocrelizumab) to just one hour following the initial dose.
The ENHANCE trial also showed that the 450mg dose of Briumvi can be safely administered in one hour as an initial infusion in B-cell depleted participants, with 97% of infusions completed without interruption or slowing.
The incidence of infusion-related reactions (IRR) in the trial remained low, with the majority being Grade 1 in severity. Only one Grade 2 IRR, described as minor throat itchiness, was observed. These findings support the treatment's safety and tolerability profile.
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