TG Therapeutics Rises on New $100M Share Buyback Program
The biotech firm completes its previous $100 million repurchase plan and immediately authorizes another, signaling confidence in its MS drug, BRIUMVI.
TG Therapeutics, Inc. (NASDAQ: TGTX) has doubled down on its commitment to shareholder returns, announcing the completion of its $100 million share repurchase program and the immediate authorization of a new buyback plan of the same value. The news was met with investor enthusiasm, sending the company's stock up 3.5% on trading volume nearly twice the daily average.
The initial program, first announced in August 2024, saw the company repurchase approximately at an average price of $28.55 per share. The seamless transition to a new $100 million authorization signals strong conviction from the company's board regarding its current valuation and long-term prospects.
Michael S. Weiss, Chairman and CEO of TG Therapeutics, stated that the board's action reflects a belief that "current market prices do not adequately reflect the multibillion-dollar potential of BRIUMVI or the long-term growth prospects of TG Therapeutics." BRIUMVI is the company's approved treatment for adults with relapsing forms of multiple sclerosis (MS), which has gained regulatory approval in the U.S., Europe, and other key markets.
The move provides a bullish counter-narrative to a recent mixed financial report. In its second-quarter results for 2025, TG Therapeutics . The results led BofA Securities to reiterate an "Underperform" rating on the stock, citing concerns despite strong sales of BRIUMVI, which met analyst expectations.
Despite the analyst caution, the company's financial footing appears solid, with and a moderate level of debt. Management's decision to deploy another $100 million toward repurchasing shares suggests an internal belief that the stock is undervalued, representing a direct investment in the company's future success. This new program will be carried out through open market purchases and other transactions, subject to market conditions.