TG Therapeutics (NASDAQ:TGTX) announced on Wednesday that its board authorized a new share repurchase program to buy back shares worth up to $100M from time to time through open-market purchases and other transactions.
The program highlights its resolve to generate value for its shareholders and indicates management’s view that TGTX stock doesn’t adequately reflect the “multibillion-dollar potential” of its lead asset, Briumvi, or the company’s long-term prospects, the biotech said.
The announcement coincided with the completion of TG’s (NASDAQ:TGTX) previously authorized $100M share buyback program, under which the company has repurchased nearly 3.5M shares at $28.55 per share on average since its launch in August 2024.
CEO Michael Weiss added that during the month of August alone, the company could buy back roughly $78M worth of TGTX shares at attractive prices.
