57.43 0.00 (0.00%)
After hours: 6:48PM EST
|Bid||53.00 x 800|
|Ask||57.43 x 800|
|Day's Range||54.05 - 58.50|
|52 Week Range||47.75 - 84.37|
|Beta (3Y Monthly)||2.62|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares of Seattle Genetics Inc. rose more than 6% Friday, after the company said it had received a new approval for its Adcetris therapy as a treatment for previously untreated peripheral T-Cell Lymphoma. The U.S. Food and Drug Administration approved Adcetris in combination with CHP chemotherapy based on the successful outcome of its phase 3 ECHELON-2 clinical trial, the company said in a statement. The FDA used a new approval pathway that allowed it to come just two weeks after the company submitted data and just under two months since it announced topline data. "While this approval was widely anticipated given the Overall Survival benefit and positive trial (ECHELON-2), we believe SGEN shares will react favorably given that it suggests PTCL revenues are likely to start in Q4, and also dispels any risk from the upcoming American Society of Hematology (ASH) presentation, especially in regards to the broader, non-ALCL (anaplastic large cell lymphoma ) cohort, which were included in this label," said Leerink analyst Andrew Berens. Leerink was previously expected revenue to start in 2019. It is the sixth FDA-approved indication for Adcetris. Shares have gained 7% in 2018, while the S&P 500 has gained 2%.
Seattle Genetics' (SGEN) Adcetris gets Breakthrough Therapy designation by the FDA for the frontline treatment of certain lymphoma subtypes.
The 17-building property is essentially full with medical device manufacturing, aerospace and telecomm companies also operating there.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peak (Biotech stocks hitting 52-week highs on Oct. 26) Endocyte, Inc. (NASDAQ: ECYT ) Imprimis Pharmaceuticals ...
The Bothell, Washington-based company said it had a loss of 42 cents per share. Losses, adjusted for investment costs, came to 27 cents per share. The results matched Wall Street expectations. The average ...
Wall Street analysts anticipate that Acadia Pharmaceuticals (ACAD) will generate revenues of $56.07 million in the third quarter of 2018, representing a ~57.59% YoY (year-over-year) growth. Its net revenues grew ~87% to $57.06 million in the second quarter, from $30.5 million in the second quarter of 2017.
Wall Street analysts anticipate that Acadia Pharmaceuticals (ACAD) will report net income of -$63.01 million for the third quarter of 2018. It was -$63.3 million in the second quarter, which compares to -$67.4 million in the second quarter of 2017. In the first half of this year, its net income was -$117.66 million. In the first half of 2017, it was -$155.3 million.
Ionis Pharmaceuticals generated second-quarter revenues of $118.0 million compared to $122.3 million in the second quarter of 2017, which reflected ~15.0% YoY (year-over-year) growth. In the first half, Ionis Pharmaceuticals reported revenues of $262.2 million, compared to $228.1 million in the first half of 2017.
Cara Therapeutics (CARA) is a clinical-stage biotechnology company that develops new chemical entities for managing pain and pruritus. It reported EPS of -$0.52 on revenues of $2.87 million in the second quarter.
In October, of the 13 analysts covering Seattle Genetics (SGEN), eight analysts gave the stock a “buy” or a higher rating, while five analysts gave the stock a “hold” rating. The mean rating for Seattle Genetics stock is 2.15 with a target price of $87.45, which implies an upside potential of 5.7% over Seattle Genetics’ closing price of $82.76 on October 3.
Seattle Genetics (SGEN) is focused on maximizing Adcetris’ market reach. Currently, the product is sold in 71 countries. Adcetris was approved in Japan for treating frontline Hodgkin lymphoma. Seattle Genetics has a global collaboration with Takeda Pharmaceutical (TKPYY) to develop and commercialize Adcetris. While Seattle Genetics retains rights for the drug in the United States and Canada, Takeda has the rights for the drug in the rest of the world. Takeda pays Seattle Genetics a royalty.
Seattle Genetics’ (SGEN) net investment and other income increased from $2.91 million in the second quarter of 2017 to $106.56 million in the second quarter of 2018 due to net gains from its sale of Immunomedics common shares. As a result, the company posted a net income of $76.27 million in the second quarter—compared to a net loss of $56.36 million in the second quarter of 2017.
Seattle Genetics’ (SGEN) antibody-drug conjugate technology makes use of monoclonal antibodies’ targeting ability to deliver cell-killing agents to cancer cells. Adcetris, Seattle Genetics’ product on the market, is used to treat several types of lymphoma. The company also has a product pipeline targeted for solid tumors and blood-related cancers.
Ionis Pharmaceuticals’ (IONS) revenue stream is segregated into two segments: Research and Development revenues from the collaborative agreements with other companies, and Commercial Revenues. Commercial Revenues include licensing and royalty revenues and Spinraza royalties. The chart below compares the revenues for Ionis Pharmaceuticals since the first quarter of 2017.
In October, of the nine analysts covering Madrigal Pharmaceuticals (MDGL), six have given its stock “buy” or higher ratings, and three have given it “hold” ratings. The mean rating for Madrigal stock is 2.11, and its target price is $322.86, implying an upside potential of 53.7% over its closing price of $210.08 on October 2. In comparison, peers Endocyte (ECYT) and Seattle Genetics (SGEN) have mean ratings of 1.25 and 2.15, respectively, and target prices of $23.33 and $86.09, respectively.
As discussed earlier, Sage Therapeutics (SAGE) is focused on the development of products for the treatment of life-threatening central nervous system (or CNS) disorders. The products under development include SAGE-718 and SAGE-904.