NasdaqCM:TGTXBiotechs
TG Therapeutics (TGTX) Stock Sinks As Profit Shrinks Behind BRIUMVI Growth
The market just marked TG Therapeutics down hard, with the stock dropping about 11% the day after earnings, even as the core multiple sclerosis drug story looked stronger on the surface. Investors came in after a solid 12 month run, only to be met with an earnings print that paired powerful BRIUMVI revenue of about US$228 million with a sharp hit to bottom line profit.
The headline this quarter is margin pressure. Heavy manufacturing related charges cut reported net income to US$7.8 million...