TG Therapeutics: A Buy Worth $22

In a report published Wednesday, HC Wainwright analyst Andrew S Fein resumed coverage of

with a Buy rating and a price target of $22. TG Therapeutics' product pipeline offered "internal and external combination options whose efficacy and safety profiles bode well for a potential commercial debut as early as 2007," analyst Andrew Fein wrote. The latest response numbers presented at the ICML meeting in June appeared favorable for "the likelihood of success in the ongoing Phase 3 study (TG-1101 as add-on to ibrutinib)." The study was poised to generate the first meaningful inflection point in 2016, Fein mentioned. TG Therapeutics' PPI3KD inhibitor TGR-1202 appeared poised to improve on the efficacy of TG-1101 and ibrutinib as a triple combo, while creating lucrative optionality in NHL as a separate internal double combo, or potentially another anti-CD20 MAB, Fein said. In the report H C Wainwright noted, "[W]e believe that the combinatorial optionality of the two lead assets will continue to generate positive readouts in hematologic malignancies and support company shares leading up to the CLL Phase 3 response data next year." TG Therapeutics reported 2Q net loss of $0.38 per diluted share, on account of SG&A expenses of $5.9 million and R&D expenses of $11.3 million. The company exited the quarter with $110.6M in cash.