Benzinga | Aug 13, 2020 03:30PM EDT

Why TG Therapeutics Is Trading Higher Today

TG Therapeutics (NASDAQ:TGTX) shares are trading higher on Thursday after the company announced that the FDA accepted its new drug application for its Umbralisib as a treatment for patients with the previously-treated marginal zone Lymphoma and Follicular Lymphoma.

TG Therapeutics is a biopharmaceutical company. It's engaged in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases.

The company is developing two therapies targeting hematologic malignancies. TG-1101 (ublituximab) is a novel, glycoengineered monoclonal antibody that targets a unique epitope on the CD20 antigen found on mature B-lymphocytes.

TG Therapeutics shares were trading up 6.35% at $20.26 on Thursday at the time of publication. The stock has a 52-week high of $24.76 and a 52-week low of $4.95.