Seattle Genetics' stock rises on early FDA nod for breast-cancer drug [MarketWatch]
Seagen Inc. (SGEN)
Last seagen inc. earnings: 4/30 04:02 pm
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Source: MarketWatch
Shares of Seattle Genetics Inc. gained 1.0% in trading on Friday after the Food and Drug Administration approved Tukysa for certain patients with HER2-positive breast cancer when given in combination with chemotherapy. The drug has a wholesale acquisition cost of $111,000 for the average course of treatment, according to a spokesperson for the company. "We recognize that patients with cancer constitute a vulnerable population at risk of contracting the coronavirus disease," Dr. Richard Pazdur, director of the FDA's Oncology Center of Excellence, said in a news release. "We remain steadfast in our commitment to patients with cancer and doing everything we can to expedite oncology product development." The regulator wasn't expected to make its decision on the drug until August. Seattle Genetics' stock is up 17.4% year-to-date. The S&P 500 is down 13.3%.
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