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Fly News Breaks for January 31, 2018
SGEN, CASC
Jan 31, 2018 | 12:09 EDT
Raymond James analyst Reni Benjamin downgraded Cascadian Therapeutics (CASC) to Market Perform from Outperform after the company agreed to be acquired by Seattle Genetics (SGEN) for $10 per share. The acquisition is "great news" for Cascadian shareholders as it unlocks the risk-adjusted value of tucatinib immediately, Benjamin tells investors in a research note. He views the proposed acquisition as a "fair deal" and expects no competing bidders to emerge.
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