Seattle Genetics' 4Q Results In Line; Expected Label Expansion Spurs FVE Increase to $56
Seattle Genetics reported solid fourth-quarter results following the announcement to acquire cancer biotech Cascadian Therapeutics in an all-cash transaction for $614 million. The company raised the capital by issuing approximately $690 million worth of shares. Full-year Adcetris revenue fell in line with our 2017 estimates, augmented by the drug’s approval in two additional indications (primary cutaneous anaplastic large cell lymphoma and CD30-expressing mycosis fungoides), which represents ano...
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