Dallas, Texas 11/26/2013 (Financialstrend) – Public Announcement Enthuses Investors
The $89 million small capped firm TG Therapeutics, Inc. (NASDAQ:TGTX) had a rollicking start to the week when trading started for the week yesterday. This happened due to the public announcement by the drug maker that it has commenced phase one clinical trial of its designer bio engineered compound “ublituxiumab” code named as TG-1101 and its variant TGR-1202 for treating patients who are suffering from a rare form of blood cancer. The “glycoengineered anti-CD20 monoclonal antibody” is being tagged with its target compound “TGR-1202” which is designed to don the role of inhibitor.
I Phase Trial Commences
The trial will enrol patients who have suffered a relapse of leukaemia and will be conducted in two different test centres. TG Therapeutics, Inc. (NASDAQ:TGTX) hopes to sustain this two pronged tests each being led by eminent scientists with a aim of trying to compare notes between the two teams findings. The first track of trail is being headed by Susan O’Brien, “MD, Professor in the Department of Leukemia” and will be conducted at The MD Anderson Cancer Center. The second track of trails will be led by “Nathan Fowler, MD, Assistant Professor and Co-Director of Clinical Research in the Department of Lymphoma”.
Commenting about the initiation of clinical trial, Michael S. Weiss, who is the Executive Chairman and acting chief executive, has been quoted as saying, “With the confirmation of activity of TGR-1202, we are one step closer to fulfilling our vision of bringing highly active, less toxic, non-chemotherapy based combination treatment options to patients with B-cell malignancies. The commencement of this combination study today represents a major milestone for the Company and is the beginning of what we expect to be a robust combination clinical program, which will include our much anticipated combination of TG-1101 with ibrutinib.”