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Fly News Breaks for December 12, 2019
SGEN
Dec 12, 2019 | 07:35 EDT
Needham analyst Chad Messer raised his price target on Seattle Genetics to $130 and kept his Buy rating after the release of full data from the phase 3 HER2CLIMB study of tucatinib in advanced metastatic breast cancer. The analyst notes that the prior release demonstrated that tucatinib plus Herceptin and capecitabine was significantly superior to Herceptin and capecitabine alone, but the latest presentation highlighted "how much better the data looked in brain mets patients." Messer adds that the "manageable" toxicity looked to be attributable to the longer term treatment duration.
News For SGEN From the Last 2 Days
SGEN
Oct 29, 2020 | 16:04 EDT
Reports Q3 revenue $1.06B vs. $213.3M last year. "Our third quarter and year-to-date strong financial performance was driven by product sales across our diverse portfolio of three marketed products as well as the positive financial impact of our recent collaborations with Merck on ladiratuzumab vedotin and TUKYSA," said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. "We plan to report clinical and preclinical data across our programs at several medical meetings during the remainder of 2020. In addition, we are pursuing multiple regulatory submissions, including our TUKYSA MAA that is under review by the EMA, a planned tisotumab vedotin BLA in the U.S. and global marketing applications for PADCEV. With our significant financial resources, robust drug development pipeline, expanding footprint in Europe and strategic oncology collaborations, we are well-positioned to continue building Seagen to address the unmet medical needs of cancer patients around the globe."