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Fly News Breaks for December 27, 2016
SGEN
Dec 27, 2016 | 13:22 EDT
Piper Jaffray analyst Edward Tenthoff keeps a Neutral rating on shares of Seattle Genetics after the FDA placed a clinical hold on three Phase I and I/II studies of SGN-CD33A in acute myeloid leukemia due to six cases of liver toxicity including four deaths. Importantly, the Phase III CASCADE trial of SGN-CD33A continues to enroll up to 500 older AML patients, Tenthoff tells investors in a research note. He believes the focus remains on Adcetris and keeps a $42 price target on the shares.
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