TG Therapeutics Raises Approximately $60 Million in Gross Proceeds Through its At-the-Market Facility
May 06, 2020
The shares of common stock were sold pursuant to an automatically-effective registration statement that the Company previously filed with the
TG Therapeutics is a biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Currently, the company is developing multiple therapies targeting hematological malignancies and autoimmune diseases. Ublituximab (TG-1101) is a novel, glycoengineered monoclonal antibody that targets a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes. TG Therapeutics is also developing umbralisib (TGR-1202), an oral, once-daily dual inhibitor of PI3K-delta and CK1-epsilon, which may lead to a differentiated safety profile. Both ublituximab and umbralisib, or the combination of which is referred to as "U2", are in Phase 3 clinical development for patients with hematologic malignancies, with ublituximab also in Phase 3 clinical development for Multiple Sclerosis. Additionally, the Company has recently brought into Phase 1 clinical development its anti-PD-L1 monoclonal antibody, cosibelimab (TG-1501), its covalently-bound Bruton’s Tyrosine Kinase (BTK) inhibitor, TG-1701, as well as its anti-CD47/CD19 bispecific antibody, TG-1801. TG Therapeutics is headquartered in New York City.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but may not be limited to, statements regarding the proposed public offering and the intended use of proceeds from the proposed offering and clinical development and regulatory milestones. These forward-looking statements are subject to a number of risks and uncertainties that could cause our actual results to differ materially, including: our ability to manage our cash burn in line with our expectations to meet projected cash estimates and projected cash runway; the success and timing of our clinical trials and preclinical studies for our product candidates, including site initiation, internal review board approval, scientific review committee approval, patient accrual, safety, tolerability and efficacy data observed, and input from regulatory authorities; our plans to develop and commercialize our product candidates, including obtaining regulatory approval or gaining market acceptance of our products; reimbursement available for our products; our available cash and investments; our ability to obtain and maintain intellectual property protection for our product candidates; our ability to manufacture or obtain supply of our products; the performance of third-party manufacturers, clinical research organizations, clinical trial sponsors and clinical trial investigators; the risk that the anticipated timeline for submission of the NDA for umbralisib for the treatment of MZL or FL based on UNITY-NHL data; our ability to successfully deliver the complete data set from the UNITY-CLL trial and complete a regulatory submission based on that data on schedule as planned; the risk that completion of the ULTIMATE-MS trials will be delayed due to a variety of factors, including, without limitation, available resources, and program reprioritization; our ability to achieve the milestones we project, including the risk that the evolving and unpredictable COVID-19 pandemic delays achievement of those milestones; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at www.tgtherapeutics.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.
Senior Vice President,
Source: TG Therapeutics, Inc.