Aug. 1 Quick Takes: Ex-U.S. deal for TG’s Briumvi comes as sales disappoint

TG Therapeutics Inc. (NASDAQ:TGTX) sank 49% to $10.49 on Tuesday, despite a deal that gave the company $140 million in upfront cash in exchange for ex-U.S. rights to Briumvi ublituximab-xiiy. Neuraxpharm Group will aim to commercialize the anti-CD20 multiple sclerosis drug in Europe, where it was approved in June. TG is eligible for another $12.5 million at first EU launch, plus another $492.5 million in milestones, and can buy back rights in the event of a change of control of TG. At $16.0 million, 2Q23 sales of the drug were lighter than the $17.4 million consensus. The stock had been on a run this year, topping out at $35.67 on May 4; its shares dipped below the $10 mark intraday for the first time since late December 2022.

With a $20 million series A extension from Apple Tree Partners, Aulos Bioscience Inc. aims to complete the Phase II portion of its ongoing trial of lead IL-2 mAb, AU-007, to treat solid tumors. AU-007 targets the CD25-binding portion of IL-2 and prevents the cytokine from binding to trimeric receptors on regulatory T cells, without affecting its ability to bind and expand effector T cells and NK cells. Aulos, which raised an initial $40 million series A round in January 2021, expects to start the Phase II portion of its Phase I/II trial in the fall and to reported updated data by year-end. ...