The updated data from TG Therapeutics' (TGTX) Phase 2 study of ublituximab in patients with relapsing forms of multiple sclerosis "remains robust and consistent with previous updates," H.C. Wainwright analyst Edward White tells investors in a research note. The updated data demonstrates continued safety and efficacy with ublituximab, with sustained 99% median B-cell depletion and 100% reduction in T1 Gd-enhancing lesions, the analyst writes. More importantly, White notes, is that an annualized relapse rate of 0.05 was observed at week 24 in 48 patients, which so far is below the ARR observed with Roche's (RHBBY) Ocrevus, the only approved anti-CD20 monoclonal antibody on the market for multiple sclerosis. The analyst views this morning's data positive and reiterates a Buy rating on TG Therapeutics with a $38 price target.

Bullish option flow detected in TG Therapeutics with 1,058 calls trading, 1.2x expected, and implied vol increasing over 2 points to 100.79%. Jun-24 12 puts and Jun-24 17 calls are the most active options, with total volume in those strikes near 600 contracts. The Put/Call Ratio is 0.46. Earnings are expected on April 29th.

Genentech, a member of the Roche Group, announced that the U.S. Food and Drug Administration has approved Alecensa for adjuvant treatment following tumor resection for patients with anaplastic lymphoma kinase-positive non-small cell lung cancer, as detected by an FDA-approved test. Alecensa is now the first and only ALK inhibitor approved for people with ALK-positive early-stage NSCLC who have undergone surgery to remove their tumor. "With an unprecedented 76% reduction in the risk of disease recurrence or death versus chemotherapy, Alecensa significantly improves upon the standard of care for people with early-stage ALK-positive lung cancer," said Levi Garraway, M.D., Ph.D., chief medical officer and head of Global Product Development. "At Genentech, our goal is to give patients the best chance of cure by bringing effective, targeted treatments to early-stage disease before their cancer has spread. This approval brings us one step closer to achieving that mission."