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Fly News Breaks for February 13, 2017
IMMU, SGEN
Feb 13, 2017 | 07:59 EDT
After Seattle Genetics (SGEN) announced a global development and license agreement with Immunomedics (IMMU) for sacituzumab, RBC Capital analyst Adnan Butt says that the drug "seems approvable," given the positive data it has generated in trials involving triple negative breast cancer patients. The analyst adds that the drug significantly reduces the risk posed by the stock and could be used to treat other cancers. He notes that the deal has not yet been completed and keeps an $80 price target and an Outperform rating on the stock.
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