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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.
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