Label for TG Therapeutics’ Briumvi slightly better than expected, says Cantor

After TG Therapeutics announced the FDA has approved Briumvi for the treatment of relapsing forms of multiple sclerosis, or RMS, Cantor Fitzgerald analyst Prakhar Agrawal said he thinks approval was "mostly expected," but added that "on first blush" the label looks "slightly better than expectations" given that it does include the CDP efficacy data in the label and there is no mention of malignancy risk and no mention of PML risk specifically related to Briumvi. Given the positive label, he thinks the stock "could be up about 5-10% from current levels," added Agrawal, who thinks investor focus will now be on list price and discounting strategy when the company hosts its call tomorrow at 8:30 a.m. ET. Agrawal has an Overweight rating and $40 price target on TG Therapeutics shares, which are up $1.12, or 14%, to $8.94 in afternoon trading.