Why TG Therapeutics Stock Was Tumbling Today
A near-doubling of revenue and a flip into profitability on the bottom line apparently weren't good enough for TG Therapeutics (NASDAQ: TGTX) shareholders on Monday.
The company, best known for its multiple sclerosis (MS) drug Briumvi, posted its first-quarter results that morning, and investors expressed their displeasure by trading out of the stock aggressively. In midafternoon action its price was down by more than 14%, comparing most unfavorably to the 0.2% dip of the S&P 500 index at that point.
TG's revenue is comprised almost entirely of Briumvi sales, so when those sales improve so does the company's revenue line. This amounted to just under $121 million in the biotech company's first quarter, and was nearly double the $63.5 million it earned in the same period of 2024.
Source Fool.com
