TG Therapeutics stock rose Wednesday after the biotech company said 92% of patients who took its multiple sclerosis drug, Briumvi, didn't progress to disability after five years.
The company tested Briumvi in patients with relapsing forms of multiple sclerosis. In these patients, new or worsening symptoms can appear or return when the immune system attacks the myelin sheath surrounding nerves in the brain and spinal cord.
But, over the course of five years, the annualized relapse rate was 0.02. That's equivalent to one relapse occurring in 50 years.
On today's stock market, TG Therapeutics stock rose 0.7%, closing at 25.25, paring back from steeper gains in earlier action. Shares are currently trading at their highest point since July 2023.
TG Therapeutics stock also ranks seventh on the IBD 50 list of elite growth stocks.
TG Therapeutics Stock: Relapse Rates Improve
Notably, the relapse rate decreased over time. After three and four years, the relapse rates were 0.053 and 0.032, respectively.
"These data demonstrate that patients treated with Briumvi for up to five years had sustained clinical benefit, including further reductions in the risk of relapse in later years of treatment and an impressively low rate of confirmed disability progression," Chief Executive Michael Weiss said in a written statement.
Just 8% of patients treated with Briumvi had confirmed disability progression that lasted for 24 weeks. In multiple sclerosis, this means more nerve cells die and the physical symptoms become worse. In comparison, 14.3% of patients who started treatment with Sanofi's Aubagio and then switched to Briumvi had disability progression.
Promisingly, 17% of patients treated continuously with Briumvi had disability improvement for at least 24 weeks vs. 12.2% of patients who switched from Aubagio to Briumvi.
TG Therapeutics stock has trended higher since late April. Shares rank in the highest 3% of all stocks when it comes to 12-month performance and technical and fundamental metrics, according to IBD Digital.
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