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Biotech / Medical : Seattle Genetics (SGEN)
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From: mopgcw7/5/2009 12:04:18 PM
   of 161
 
Seattle Genetics - SGEN-NNM
Buy - Price 9.35 on June 29
by Needham & Co.

[This developer of targeted antibody drugs announced a new midstage clinical trial of SGN-35 as a treatment for relapsed forms of anaplastic large-cell lymphoma.] We are reiterating our Buy rating and 15 target. We are increasingly positive toward the opportunity for SGN-35, the company's lead product, after a review of recent SGN-35 data with management. The [American Society of Clinical Oncology] meeting data highlighted a potential dosing schedule of once weekly (versus every three weeks) for use in subsequent Hodgkin's lymphoma trials, as a potential consolidation therapy. The data also highlighted a pronounced effect in ALCL patients (now in Phase II testing). Net cash per share: $2.30. Market cap: $780.7 million.
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