TG Therapeutics, Inc. (TGTX) stock provided the regulatory update today after which the stock saw a huge decline in the intraday session. TGTX stock price saw a downtrend of 42.02% to drop at $13.54 a share at the time of this writing. The trading volume as of now was 6,947,109. Let’s dig in to explore more of it.

What’s Happening?

TGTX stock today on November 30, 2021, announced that the U.S.A Food and Drug Administration has notified the stock that it is planning to host an Oncologic Drugs Advisory Committee (ODAC) meeting. The review of pending Biologics License Application (BLA)/supplemental New Drug Application (sNDA) for the combination of ublituximab and UKONIQ® has a connection with this meeting. The new drug application aims to treat adult patients suffering from chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL).

The CEO of the TGTX stock Michael S. Weiss appreciated the FDA’s efforts and emphasized the uniqueness of UKONIQ as a PI3K inhibitor. He believes that the data submitted so far will support the approval of U2 in CLL. The management is looking forward to the ODAC meeting as it is considering this meeting as the opportunity to highlight the important role which U2 can play to treat CLL.

Financial View of TGTX stock:

In the first week of November, TGTX stock announced the third quarter 2021 financial results according to which

• TGTX stock generated $2.0 million in net product revenue in the third quarter of 2021. The net product revenue for the first nine months of 2021 was $4.3 million.
• The company spent $52.0 million in research and development expenses in the third quarter of 2021. For the first nine months of 2021, TGTX stock spent $159.9 million in research and development expenses.
• The selling, general and administrative expenses of the TGTX stock were $34.9 million and $95.7 million in the third quarter and first nine months of 2021. These expenses were $35.3 million and $64.0 million in the same period of the previous year.
• TG Therapeutics suffered a net loss of $85.6 million in the third quarter of 2021. The net loss for the first nine months of 2021 was $254.8 million.
• By the end of the third quarter, the company had $381.4 million in cash, cash equivalents, and investment securities.

Wrap Up:

Things are not going well for the TGTX stock in the stock market as the sentiment is not positive so far. The stock has lost almost 61% in the past six months and 73% year to date.