TG Therapeutics' Stock Shoots Up Toward 5-month High After Positive Test Results

Shares of TG Therapeutics Inc. rocketed 57% toward a five-month high in premarket trade Monday, after the biopharmaceutical company announced positive results from a phase 3 trial of its treatment of chronic lymphocytic leukemia. TG said the trial of TG-1101 met its primary endpoint of efficacy and safety, demonstrating "statistically significant improvement in the overall response rate. " This study demonstrates that the addition of ublituximab, can significantly enhance the response rates without compromising safety," said Jeffrey Sharman, the phase 3 study chair. The stock had lost 4.5% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF had climbed 10% and the S&P 500 had gained 7.7%.