TGTX shares opened lower on Tuesday after Novartis said its drug remibrutinib improved multiple sclerosis in late-stage trials.

  • H.C. Wainwright analyst Emily Bodnar said Novartis’s remibrutinib is likely to beat Roche’s fenebrutinib on safety.
  • But she still sees oral BTK drugs competing with other pills, not with high-efficacy intravenous B-cell therapies such as Briumvi.
  • The firm maintained a Buy rating and a $78 price target on TGTX, implying about 44% upside from the stock’s last close.


Shares of TG Therapeutics (TGTX) opened lower on Tuesday but pared losses as investors digested Novartis’s new multiple sclerosis pill data and a note from H.C. Wainwright saying the results do not threaten TGTX’s main drug, Briumvi.

H.C. Wainwright analyst Emily Bodnar said Novartis’s remibrutinib is likely to beat Roche’s fenebrutinib on safety. But she still sees oral BTK drugs competing with other pills, not with high-efficacy intravenous B-cell therapies such as Briumvi. The firm maintained a Buy rating and a $78 price target on TGTX, implying about 44% upside from the stock’s last close.

The stock traded 3% higher at the time of writing. 

What Novartis Reported

Novartis said on Tuesday that its drug remibrutinib met its main goal in two late-stage trials, REMODEL-1 and REMODEL-2, versus an older oral drug, teriflunomide. The studies enrolled about 2,000 adults with relapsing multiple sclerosis (MS).

Multiple sclerosis is a long-term disease of the brain and spinal cord. The immune system attacks myelin, the protective coating around nerve fibers. Damaged myelin slows or blocks signals between the brain and the body, causing symptoms like fatigue, numbness or tingling, among others.

In Novartis’s trials, its pill cut relapse rates and MRI lesions and showed a cleaner liver-safety profile than some earlier BTK drugs. Full results are due at a Toronto meeting later this year. Novartis plans to seek approval worldwide. Remibrutinib is already sold as Rhapsido for hives.

Why That May Not Hurt Briumvi

Briumvi is an intravenous drug for multiple sclerosis. After the first dose, patients get a one-hour infusion about every six months. Wainwright’s view is simple: doctors still use high-efficacy infusions as the core option. Oral BTK pills are more likely to take patients from weaker older pills.

Briumvi is carrying TGTX. In the second quarter, U.S. sales were $227.7 million, up 64% from a year earlier. Total revenue was about $240 million. The company raised 2026 guidance to $890–$905 million in U.S. Briumvi sales and about $950 million worldwide. It wants to exit the year at a $1 billion annualized U.S. run rate.

An unconfirmed late-August buyout rumor also lifted the stock earlier this month. Cash at midyear was about $612 million.

What Comes Next For TGTX

TGTX is trying to make Briumvi easier to use. A recent study supported starting with one infusion instead of two. A filing is planned later this year.

A shot version for home use has finished late-stage trial enrollment, with data due late 2026 or early 2027. The company is also testing the drug in myasthenia gravis and treatment-resistant schizophrenia.

How Did TGTX Retail Traders React?

On Stocktwits, retail sentiment around TGTX fell from ‘neutral’ to ‘bearish’ over the past 24 hours, while message volume stayed at ‘low’ levels.

A Stocktwits user noted that Briumvi leads remibrutinib in several aspects, including dosing frequency, efficacy expectation, and flexibility in administration.

View this Stocktwits post

Another user opined that Novartis’s data does not signal a “paradigm shift” but just another option for patients.

View this Stocktwits post

TGTX stock has gained 87% year-to-date. 

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