TG Therapeutics (TGTX) Gets Boost from Trial Data; Concert Pharma (CNCE) Inks Mega-Deal with Vertex Pharma (VRTX)
Shares of TG Therapeutics Inc. (Nasdaq:TGTX) soared more than 50% in pre-market trad Monday after the company said that data from a late-stage study showed that its glycoengineered monoclonal antibody TG-1101 (ublituximab) combined with ibrutinib performed significantly better in Overall Response Rate versus ibrutinib alone – the study’s primary endpoint – in patients with high risk Chronic Lymphocytic Leukemia, a type of cancer that starts from white blood cells (lymphocytes) in the bone marrow.
TGTX stock closed at $5.35, down $0.25 (or -4.46%) on Friday.
TG Therapeutics, which focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases, has 54.73M shares outstanding and TGTX stock 52-week range is from $4.10 to $10.50 per share. At close on Friday, the biopharmaceutical company had a market capitalization of $292.81M
Concert Pharmaceuticals, Inc. (Nasdaq:CNCE) shares climbed over 25% before the opening bell Monday as the company said that Vertex Pharmaceuticals, Inc. (Nasdaq:VRTX) will acquire all rights to its investigational cystic fibrosis treatment CTP-656.
The deal calls, among other things, for Vertex to pay Concert $160 million in cash – upon closing – and up to $90 million based on the achievement of pre-determined product milestones.
CNCE stock finished Friday’s trading session in opositive territory by 0.52% (or +$0.05) at $9.65
Concert Pharmaceuticals, which discovers and develops small molecule drugs for genetic diseases, inflammatory disease, and neurologic disorders, has 22.27M shares outstanding, market capitalization (intraday) of $214.95M and ECNCE stock one-year range is between $7.11 and $15.53 per share.
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