Seagen Inc. - SGEN STOCK NEWS

Seagen Inc. announced new data for ADCETRIS (brentuximab vedotin) to be presented at the 64th American Society of Hematology Annual Meeting from December 10-13, 2022. The data includes updated efficacy and safety results from clinical trials for classical Hodgkin lymphoma and other CD30-expressing lymphomas. Notably, five oral presentations will focus on ADCETRIS's application in various stages of treatment. Further results from a phase 1 study of SEA-BCMA in relapsed/refractory multiple myeloma will also be shared.

Seagen Inc. announces the FDA approval of ADCETRIS (brentuximab vedotin) for treating pediatric patients aged 2 and older with high-risk classical Hodgkin lymphoma (cHL). This decision is based on a Phase 3 study demonstrating a 59% reduction in the risk of disease progression, relapse, second malignancy, or death when combined with standard chemotherapy. The study involved 587 patients and showcases the potential of ADCETRIS as a groundbreaking treatment for children, expanding its reach beyond adult patients.

Seagen Inc. (NASDAQ: SGEN) announced encouraging results from the Phase 1 study of SGN-B6A, an investigational antibody-drug conjugate, at the SITC Annual Meeting in Boston (Nov 8-12). The study enrolled 79 patients with metastatic solid tumors and demonstrated early efficacy in non-small cell lung cancer, head and neck cancer, and esophageal cancer while maintaining a manageable safety profile. The company also presented data on complementary therapies such as enfortumab vedotin and SGN-BB228, along with plans for further research.

Seagen Inc. (NASDAQ: SGEN) has appointed Dr. Sandra M. Swain to its Board of Directors. Dr. Swain brings over 30 years of expertise in breast cancer research and currently serves as Associate Dean at Georgetown University Medical Center. Her involvement aligns with Seagen's mission to advance cancer treatments. The company is noted for its successful portfolio with four approved drugs and a focus on antibody-drug conjugates, reflecting its commitment to improving patient care globally.

Seagen Inc. announced the appointment of David R. Epstein as its new CEO, effective immediately. Epstein has over 30 years of experience, including significant roles at Novartis. Roger Dansey, previously the interim CEO and CMO, will now serve as President of Research and Development. This leadership transition aims to strengthen Seagen’s capabilities in developing innovative cancer treatments, particularly in antibody-drug conjugate (ADC) technology. The company is focused on expanding its pipeline of approved medicines and enhancing its impact on cancer care.

Seagen Inc. reported total revenues of $510 million for Q3 2022, driven by $428 million in net product sales, marking a 17% increase from Q3 2021. The company submitted a supplemental biologics license application for PADCEV in combination with KEYTRUDA for advanced urothelial cancer, which has shown a promising 64.5% overall response rate. FDA has granted priority review for TUKYSA in combination with trastuzumab for HER2-positive colorectal cancer. Seagen anticipates total revenues between $1.820 billion and $1.865 billion for 2022.

Seagen Inc. (NASDAQ: SGEN) will report its Q3 2022 financial results on October 27, 2022, after U.S. market close. A conference call and webcast will follow at 4:30 p.m. Eastern Time to discuss the results and provide a business update. Investors can access the conference by calling 844-763-8274 (U.S.) or +1 412-717-9224 (international) with conference ID 10171976. Seagen, headquartered in Seattle, develops transformative cancer medicines.

Zai Lab has secured exclusive rights to develop and commercialize TIVDAK, an FDA-approved antibody-drug conjugate, in Mainland China, Hong Kong, Macau, and Taiwan. The collaboration with Seagen involves a $30 million upfront payment, milestone payments, and shared royalties. TIVDAK addresses a significant unmet need in treating recurrent or metastatic cervical cancer, with 110,000 new cases annually in China. Ongoing clinical trials underpin the therapeutic potential of TIVDAK in various cancer treatments.

Seagen has entered an exclusive license agreement with LAVA Therapeutics to develop and commercialize LAVA-1223, a bispecific T cell engager targeting EGFR-expressing solid tumors. LAVA will receive an upfront payment of $50 million, with potential milestones totaling $650 million and royalties ranging from single to mid-teens percentages on future sales. This partnership allows Seagen to leverage its expertise in cancer therapies while enhancing LAVA's Gammabody platform by nominating additional tumor targets.