TG Therapeutics ( (TGTX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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TG Therapeutics shares jumped after the company secured a new $750 million senior secured credit facility with Blue Owl Capital, unlocking $500 million in net non-dilutive capital. Investors see this as a strong boost to the company’s ability to fund operations and drive growth without issuing new shares.
The company also expanded its share repurchase program from $100 million to $300 million, a move that underscores management’s confidence in the business. The market is betting this added firepower will support the continued commercial momentum of its multiple sclerosis drug, BRIUMVI, while rewarding existing shareholders.
More about TG Therapeutics
YTD Price Performance: 1.38%
Average Trading Volume: 2,079,591
Technical Sentiment Signal: Buy
Current Market Cap: $4.86B
For further insights into TGTX stock on TipRanks’ Stock Analysis page.
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