TG Therapeutics Stock Plummets 50% on Disappointing Q2 Results
TG Therapeutics' stock plunged by 49.3% after sales of its multiple sclerosis drug, Briumvi, fell short of analysts' expectations. Briumvi generated $16.1 million in U.S. sales during the second quarter, missing the forecasted $17.4 million. The drug faces competition from Roche's Ocrevus, which is being tested as an under-the-skin injection. TG Therapeutics also announced a deal with Neuraxpharm Group to commercialize Briumvi in Europe, but the stock hit an eight-month low following the news.