You just posted exactly why they will be bought out!! They are in the sweet spot for a buyout, just prior to label expansion and further validation of pipeline. I don't remeber a poison pill clause but could be wrong. I'm just saying they are way too attractive to BP expecially any that have an antibody library!
Not going to happen.
With all that is going on and going right (i.e. establish ADCETRIS as a franchise drug as one that is already approved so successful trial completion will boost sales immediately) the market cap will grow metheorically in the next 3 to 5 years, there are many clear indications that Mr Segal is totally focused and has access to the financial firepower for getting it done without additional muscle. A buyout now would be both a distraction and not in the best interest of SGEN investors.
If even only half of current trials/partnerships work out, SGEN revenues can easily exceed $ 4 to 5 Billion in 3 to 5 years.
No acquiring company CEO is going to propose paying the preset value of that revenue stream today and Mr Segal appears not to be inclined to sell at a discount.