On May 6, 2020 TG Therapeutics, Inc. (NASDAQ: TGTX), reported it has raised gross proceeds of approximately $60 million through its At-the-Market (ATM) facility, $40 million of which came from longtime shareholder, RA Capital Management (Press release, TG Therapeutics, MAY 6, 2020, View Source [SID1234557084]). The Company sold approximately 3.5 million shares of the Company’s common stock on May 5, 2020, at the then-prevailing market prices.
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TG Therapeutics intends to use the capital raised through the ATM to fund the ongoing development and commercialization of the Company’s lead assets, ublituximab and umbralisib, as well as for research and development activities of the Company’s pipeline, and for general corporate purposes.
Michael S. Weiss, the Company’s Executive Chairman and Chief Executive Officer, commented, "On the heels of the positive topline UNITY-CLL data, we were pleased to bolster our balance sheet with $60 million, including $40 million coming unsolicited from a top-tier biotechnology investor. We greatly appreciate their continued confidence in TG and our efforts to bring the best possible treatment options to patients with B-cell diseases. We look forward to an exciting remainder of 2020, with many important upcoming milestones, including completion of our rolling NDA submission for umbralisib in previously treated marginal zone lymphoma and follicular lymphoma, topline data from the ULTIMATE program evaluating ublituximab in multiple sclerosis, as well as a regulatory submission for the combination regimen of umbralisib and ublituximab in chronic lymphocytic leukemia targeted by year-end."
The shares of common stock were sold pursuant to an automatically-effective registration statement that the Company previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.