Shares of IBD 50 stock TG Therapeutics rallied Wednesday after Roche's rival multiple sclerosis treatment, Ocrevus, missed its mark in a study of patients with the relapsing form of the disease.
The Swiss drugmaker sells a 600-milligram dose of Ocrevus for patients with multiple sclerosis. In the study, Roche aimed to see if a higher dose of the intravenous infusion could slow how fast patients progress to disability. But the study missed its mark.
Roche says the results reaffirm the benefits of the approved 600-milligram infusion.
But the results buoyed TG Therapeutics stock. Shares jumped 5.5% to 39.82. TG stock broke out of a consolidation with a buy point at 36.84 on March 4. Shares are now making their way toward a profit-taking zone, MarketSurge shows. Savvy investors are encouraged to take some profits when a stock rises 20% to 25% above a buy point.
TG Therapeutics' Rivalry With Roche
The news could potentially help TG Therapeutics in its battle with Roche.
TG sells the multiple sclerosis drug Briumvi for relapsing forms of multiple sclerosis. It's the only drug in its class that can be given as a one-hour infusion twice a year following the starting regimen. Ocrevus is in the same drug class, but each infusion after the starting regimen requires two to four hours every six months.
Roche estimates there are 400,000 people globally with multiple sclerosis. It's approved for patients with relapsing and progressive forms of the disease.
Ocrevus is a powerhouse drug and brought in $7.43 billion in sales last year. That accounted for about 11% of Roche's total sales. But Briumvi is growing faster. In 2024, Briumvi generated $313.7 million in sales, growing 241% in its second year on the market. Briumvi is TG Therapeutics' only approved product.
TG Therapeutics shares rank No. 14 on the IBD 50 list of elite growth stocks.
Notably, shares have a strong IBD Digital Relative Strength Rating of 98. This means TG stock is in the top 2% of all stocks when it comes to 12-month performance. Shares also have a strong Composite Rating of 96, a measure of fundamental and technical metrics.
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