NEW YORK–(BUSINESS WIRE)–$TGTX #TGTherapeutics—Scott+Scott
Attorneys at Law LLP (“Scott+Scott”), a national shareholder and
consumer rights litigation firm, reminds investors that a class action
lawsuit has been filed against TG Therapeutics, Inc. (“TG” or the
“Company”) (NASDAQ: TGTX) and other defendants, related to alleged
violations of federal securities laws. If you purchased TG
Therapeutics securities between June 4, 2018 and September 25, 2018, you
are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for
more information. The lead plaintiff deadline is December 3, 2018.
TG is a developmental biopharmaceutical company focused on treatments
for B-cell malignancies and autoimmune diseases. The Company has been
developing two therapies targeting hematologic malignancies: TG-1101
(ublituximab) and TGR-1202 (umbralisib).
During the Class Period, TG was engaged in a randomized controlled Phase
3 trial to evaluate TG-1101 in combination with TGR-1202 for patients
with front-line and previously treated Chronic Lymphocytic Leukemia
(“CLL”), known as the UNITY-CLL Trial.
The lawsuit alleges that defendants made false and misleading statements
regarding TG’s business and prospects and the UNITY-CLL Trial.
Specifically, that defendants failed to disclose that TG was involved in
cleaning the data collected in the UNITY-CLL Trial and, as a result, was
able to gain an understanding as to the efficacy of the combination
therapy; that, as a result of that data cleaning, TG knew the UNITY-CLL
Trial had failed to meet its stated goal, and that, as a result, the
Company would not be able to seek accelerated approval; and, thus, it
was highly unlikely that the combination therapy would meet its primary
endpoint of increased progression free survival – in other words, the
drug therapy had failed.
On September 25, 2018, pre-market, TG announced that it would not be
releasing the data from the UNITY-CLL Trial and that it had failed to
meet the trial’s stated goal. The Company issued a press release
announcing that the Data Safety Monitoring Board had met to review
ongoing data from the UNITY-CLL Trial and had advised the Company that
the interim analysis of the study data could not be conducted because
the data was not sufficiently mature.
On this news, the price of TG stock fell from $9.25 per share to $5.15
per share – a drop of over 44%.
What You Can Do
If you purchased TG Therapeutics securities between June 4, 2018 and
September 25, 2018, inclusive, or if you have questions about this
notice or your legal rights, please contact attorney Joe Pettigrew at
(844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.