BioCentury
ARTICLE | Financial News

Follow-on roundup: Seattle Genetics, Trevena

September 12, 2015 12:57 AM UTC

Seattle Genetics Inc. (NASDAQ:SGEN) raised $480 million through the sale of 11.7 million shares at $41 in an upsized follow-on underwritten by JPMorgan; Leerink; UBS; Barclays; RBC Capital Markets; Needham; and William Blair. The company had proposed Wednesday after market close to raise $400 million; its shares were valued at $41.29 at the time. Seattle Genetics gained $3.43 to $45.01 on Friday.

Seattle Genetics and partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) are conducting three Phase III studies of Adcetris brentuximab vedotin: one each in relapsed CD30-positive cutaneous T-cell lymphoma (CTCL), front-line advanced stage classical Hodgkin's lymphoma, and front-line CD30-positive mature T cell lymphoma. The antibody-drug conjugate (ADC) composed of an anti-CD30 mAb and monomethyl auristatin E (MMAE) is approved to treat relapsed classical Hodgkin's lymphoma; classical Hodgkin's lymphoma at high risk of relapse or progression as post-autologous hematopoietic stem cell transplantation, or auto-HSCT, consolidation; and systemic anaplastic large cell lymphoma (ALCL). ...