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Fly News Breaks for January 31, 2018
CASC, SGEN
Jan 31, 2018 | 09:46 EDT
Piper Jaffray analyst Edward Tenthoff says Seattle Genetics' (SGEN) "surprise" acquisition of Cascadian Therapeutics (CASC) adds a late-stage cancer drug and also expands the company beyond its antibody-drug conjugate focus. To pay for the deal, Seattle Genetics is aiming to raise $550M, Tenthoff tells investors in a research note. He keeps a Neutral rating on the shares with a $55 price target.
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