|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||113.05 - 114.81|
|52 Week Range||51.50 - 114.81|
|Beta (3Y Monthly)||1.99|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 5, 2020 - Feb 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||110.27|
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Nov. 12) ACADIA Pharmaceuticals Inc (NASDAQ: ACAD ) Allergan ...
Seattle Genetics, Inc. (SGEN) today announced that it has submitted an arbitration demand to the American Arbitration Association to resolve its dispute with Daiichi Sankyo Co. Ltd. regarding the ownership of certain technology used by Daiichi Sankyo in its metastatic breast cancer drug candidate (DS-8201, [Fam-] trastuzumab deruxtecan), among other product candidates. Seattle Genetics contends that the linker and other ADC technology used in these drug candidates are improvements to Seattle Genetics’ pioneering ADC technology, the ownership of which was assigned to Seattle Genetics under the terms of a 2008 collaboration agreement between the two companies.
-Four-Year Update of the ECHELON-1 Trial Continues to Support Superior Clinical Activity of ADCETRIS in Combination with Chemotherapy when Compared to ABVD in Frontline Advanced Ho
Seattle Genetics, Inc. (SGEN) and BeiGene, Ltd. (Nasdaq: BGNE; HKEX: 06160) today announced that the companies have entered into a license agreement for an advanced preclinical product candidate for treating cancer. The agent utilizes a proprietary Seattle Genetics antibody-based technology and is expected to advance into clinical trials in the first half of 2020. Under the terms of the agreement, Seattle Genetics has retained rights to the product candidate in the Americas (United States, Canada and Latin American countries), Europe and Japan.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Nov. 4) Agile Therapeutics Inc (NASDAQ: AGRX )(follow-on rally ...
ADC technology used in Daiichi Sankyo’s metastatic breast cancer drug candidate (DS-8201, [Fam-] trastuzumab deruxtecan) among other product candidates, rightfully belongs to Seattle Genetics under the agreement entered into between the two parties in 2008. The linker and other ADC technology used in these drug candidates are improvements to Seattle Genetics’ pioneering ADC technology, the ownership of which are automatically assigned to Seattle Genetics under the terms of the agreement.
Seattle Genetics, Inc. announced today that management will present at the Credit Suisse 28th Annual Healthcare Conference on Tuesday, November 12, 2019 at 10:20 a.m. Mountain Time.
(Bloomberg) -- Even in the volatile world of biotech, Baker Bros. Advisors has notched some extraordinary returns in the past two weeks.On October 21, Seattle Genetics Inc. added $2.1 billion to its market capitalization after a study showed one of its therapies slowed the spread of breast cancer, including for patients whose disease had metastasized to the brain. Then on Friday in Hong Kong, BeiGene Ltd. gained 32% after Amgen Inc. said it would take a $2.7 billion minority stake in the Chinese-American drug developer.For the Baker Bros. -- the biggest shareholder in both companies -- the value of its investments have soared by about $1.4 billion. Its stake in Seattle Genetics is up $1 billion since news of the study broke while the firm’s BeiGene holding is up more than $400 million in early trading Friday.For Julian and Felix, the discreet brothers behind the eponymous hedge fund firm, outsized returns have become almost routine, making a fortune for their investors, including Yale University’s endowment and the Tisch family.Fabulously WealthyIt has also made the siblings fabulously wealthy, with a combined fortune of at least $3.8 billion, according to the Bloomberg Billionaires Index.The duo has built a $17 billion investment firm -- a giant by biotech standards -- yet remain little known outside the pharmaceutical world. They’ve become power players by taking board seats on promising biotechnology companies and combining deep pockets with a remarkably long investing horizon.The money manager first invested in Seattle Genetics more than 15 years ago when the company was barely breaking even and had no drugs on the market. Felix became lead director in 2005 and over time Baker Bros. added to its stake. The position is now worth more than $5 billion, their largest public holding. Their position in BeiGene is now worth $2.1 billion and was its third-largest public holding as of June 30. Baker Bros.’s Ronny Krishana sits on the board.Those who’ve rubbed elbows with the firm say it focuses as much on the science as the money.Well Prepared“You come out of your first meeting with them, you go ‘wow’ and you’re drenched in sweat,” said Edwin Moses, the former chief executive officer of Ablynx NV, which received an investment from Baker Bros. in 2017. “Not every investor is so well-prepared.”Despite the firm’s success, information about its founders and performance is hard to come by. Baker Bros. has no website and the brothers assiduously avoid the press. The brothers didn’t respond to repeated phone messages for comment on their net worth and strategy.Rare details have emerged, such as when Felix bought one of the largest mansions in Manhattan for $45 million. The New York Post reported in 2017 that the West Village property, previously home to a children’s charity, would undergo a massive renovation into a single-family residence.What’s known is that brothers Julian, 53, and Felix, 50, grew up in Chicago’s Hyde Park neighborhood. Their father taught history at the University of Chicago and their mother sociology at DePaul University, according to a college questionnaire from their mother. Julian studied at Harvard University and then worked in the private-equity arm of Credit Suisse First Boston. Felix attended Stanford University, completed two years of medical school and got a Ph.D in immunology.In 1994, the siblings started managing health-care investments for the Tisch family, which had turned theater chain Loews into a conglomerate. The Bakers created a standalone business in 2000 and by 2006, they oversaw about $1 billion, a large but not unwieldy sum for a biotech-investment firm.The brothers maintained close ties to the Tisch clan. Until 2017, Baker Bros. offices were in the same 667 Madison Avenue skyscraper that’s home to Loews Corp., the Tisch holding company.Lean OperationThe Bakers, now based in the Meatpacking district, run a lean operation. The firm’s 40 employees -- 16 of them investment professionals -- oversaw $17.3 billion at the start of 2018, according to a regulatory filing. That’s just five more investing staff than it employed in 2012, when it managed less than a fifth of that sum.Filings from Yale provide snapshots of how they’ve performed.Yale’s charitable foundation had $274 million invested in 667 LP, a Baker Bros. vehicle, in 2009, IRS filings show. That ballooned to $1.08 billion by 2016, the most recent filing year on record, a combination of new money and profits of $393 million.The Bakers’ success has been built on sweeping advances in the science of genetics, a meteoric rise in biotech stocks and a period of frenzied dealmaking as large biopharmaceutical companies have snapped up smaller innovators.Since the end of 2006, the Nasdaq Biotechnology Index has returned 345%, while the Nasdaq and S&P 500 indices have returned 298% and 181%, respectively.Recently the sector has struggled. The biotech index has dropped 6.9% since March 1, compared with a 8.3% gain in the S&P 500. That’s partly due to increased scrutiny over drug pricing, but also the rising popularity of Senator Elizabeth Warren in the Democratic presidential primaries, who’s taken a combative approach to the pharmaceutical industry.The brothers rely on talented executives and scientists, often discovered at companies they invest in. These people frequently end up on boards of other companies where Baker Bros. is a stakeholder. When the executives launch businesses, the Bakers have often backed them in their new endeavors.Board MembersOf the Baker Bros. top 20 disclosed public company investments eight have at least one board member who works for Baker Bros. Chief executives for seven of those twenty companies also serve as board members on other large Baker investments.Eve Slater, the first woman assistant secretary for the U.S. Department of Health and Human Services, has served on the boards of Idera Pharmaceuticals Inc. and AnorMED Inc., alongside representatives for Baker Bros. She described them as “very scientifically driven” and “active” board members, who steered AnorMED through a difficult period.Others have been more critical of their influence.Great Point Partners, a Connecticut hedge fund that owned shares of BioCryst Pharmaceuticals Inc., wrote a letter to the drugmakers’ board in February 2018 opposing a proposed merger with Idera.Great Point co-founder David Kroin argued that the deal appeared to favor Idera’s largest shareholder, who was also a significant investor in BioCryst, to the detriment of other BioCryst investors. He didn’t name Baker Bros., but the firm was the biggest Idera shareholder at the time and also held a smaller stake in BioCryst.Kroin lambasted the tie-up and “the inherent benefit to [BioCryst’s] largest shareholder at the expense of everyone else,” and argued the deal could even give the shareholder “effective voting control.” Investment firm RA Capital Management echoed these concerns, also not naming Baker Bros. BioCryst investors ultimately rejected the deal.For CEOs like Ablynx’s Moses, Baker Bros.’ financial influence and expertise was a valuable asset. Moses said the firm used its sway to drum up engagement from Wall Street banks, who provided favorable terms for the company’s 2017 public offering. He even said that the investment firm pledged to stand by him if he decided to reject a takeover offer from French drugmaker Sanofi. Sanofi ultimately bought Ablynx in a deal worth $4.8 billion.“If I do another biotech venture, having them as an investor would be something to be proud of,” Moses said.As a result of the acquisition, Baker Bros. banked more than 100 million euros .(Updates with BeiGene investment in eight paragraph.)\--With assistance from Cristin Flanagan, Tom Maloney, Tom Metcalf, Michael McDonald and Drew Armstrong.To contact the reporter on this story: Simone Foxman in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Vincent BielskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Seattle Genetics (SGEN) delivered earnings and revenue surprises of -45.95% and 1.26%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
-Record ADCETRIS® Net Sales in U.S. and Canada of $167.6 Million in the Third Quarter, an Increase of 32 Percent Over the Third Quarter of 2018-
Earnings, clinical trial readouts and positive FDA verdicts catalyzed fairly robust performances by biotech stocks last week. Biogen Inc (NASDAQ: BIIB )'s about-face with respect to its Alzheimer's drug ...
During Monday night's Lightning Round of Mad Money one caller asked about Ionis Pharmaceuticals Inc. : "This is a battleground. In the daily bar chart of SGEN, below, we can see that the prices have just about doubled in the past 12 months. The On-Balance-Volume (OBV) line has turned upward in the past two months to support and confirm the price advance and tell us that buyers of SGEN have been more aggressive.
Shares of Seattle Genetics entered the triple-digit club Monday after the biotech company improved upon a breast cancer treatment from Roche. Seattle stock is now in a profit-taking zone.
Boeing got crushed by sellers again, weighing on the Dow Jones Industrial Average. But the stock market today showed bullish moves in the medical field.
(Bloomberg) -- As Seattle Genetics Inc. rallies on a successful breast cancer study Monday, the biotech’s largest holder, Baker Bros. Advisors LP, stands to gain nearly $730 million on the day from its stake.The investment firm founded by Felix and Julian Baker made a big bet in the company, their biggest in fact, with a 29% stake, as of June 30, according to data compiled by Bloomberg. That stake is worth roughly $5 billion today after tucatinib -- an experimental therapy Seattle Genetics acquired for more than $400 million last year -- surprised investors by slowing the spread of cancer and extending patients’ lives. Even more surprisingly, it had an effect on patients whose cancer had spread to their brains.Baker Bros. has been invested in the company for over 15 years, and Felix Baker is a lead director for the biotech. Today Seattle Genetics makes up over 28% of Baker Bros.’s $15.5 billion in assets.The stock rose as much as 17% to a record high of $101.95 intraday. Twelve analysts that follow the company rate it the equivalent of a buy, five rate it a hold and one rates it a sell. With an average price target of $87, some analyst target raises are likely in the near future.To contact the reporter on this story: Cristin Flanagan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...
Seattle Genetics Inc. shares soared 15% Monday, after the company announced positive results in a trial of a treatment for breast cancer. Bothell, Wash.-based Seattle Genetics said the trial of tucatinib in locally advanced or metastatic HER2-positive breast cancer met its primary endpoint of progression-free survival. Patients were treated with tucatinib in combination with trastuzumab and capecitabine to trastuzumab and capecitabine alone. The trial also met its secondary endpoints. "Based on these findings, we plan to unblind the trial and offer tucatinib to patients on the control arm," Chief Medical Officer Roger Dansey said in a statement. The company is also planning to submit a New Drug Application to the FDA in the first quarter of 2020, he said. HER2-positive breast cancer is an aggressive form of the disease that affects 15% to 20% of cases worldwide. The trial is expected to enroll about 460 patients in North America, Europe and Asia. Leerink analysts said the trial is another win for Seattle Genetics and a "near best-case scenario." They reiterated their outperform rating on the stock. Shares have gained 76% in 2019, while the S&P 500 has gained 19%.
Shares of the large-cap biopharma Seattle Genetics, Inc. (NASDAQ: SGEN ) were advancing strongly Monday following a clinical trial readout from the company. Primary, Secondary Endpoints Met A pivotal ...
Shares of Seattle Genetics rose as much as 16% Monday after the company announced positive results from a trial of its oral breast cancer treatment, tucatinib. The trial involved tucatinib with a combination of other medicines in patients with locally advanced unresectable or metastatic human epidermal growth factor receptor 2, or HER2, breast cancer, which leads to the aggressive spread of cancer cells. "The addition of tucatinib to the commonly used doublet of trastuzumab and capecitabine represents a potential significant clinical advance for patients with metastatic HER2-positive breast cancer, importantly, including those with brain metastases," Roger Dansey, a physician who is chief medical officer at Seattle Genetics, said in a release.
-HER2CLIMB Trial Met Primary Endpoint and Both Key Secondary Endpoints-
Here are four stocks positioned right at key technical breakout points. Horizon Therapeutics PLC (HZNP) climbed 92 cents to $28.20 on 2.3 million shares traded Tuesday, more than 1 1/2 times its average volume. The move, which came on no news from the drug maker targeting treatments for rare and rheumatic diseases, edged the stock out of a two-month sideways channel.