Seagen Inc. - SGEN STOCK NEWS

Genmab and Seagen presented interim results from the Phase 1b/2 innovaTV 205 trial on June 6, 2022, indicating a 41% objective response rate (ORR) in patients with recurrent or metastatic cervical cancer treated with tisotumab vedotin and pembrolizumab. This study highlights a median progression-free survival of 5.3 months and notable durability of response. Common treatment-related adverse events included alopecia and diarrhea. A new web-based tool was introduced to identify areas needing cervical cancer intervention, reflecting the companies' commitment to addressing healthcare disparities.

Seagen and Genmab have announced interim results from the innovaTV 205 trial, revealing a 41% objective response rate (ORR) for tisotumab vedotin in combination with pembrolizumab among patients with recurrent or metastatic cervical cancer (r/mCC). The data, presented at ASCO 2022, also shows a median progression-free survival of 5.3 months. The trial included 33 patients, with 25% achieving partial responses. Adverse events were primarily manageable, with common occurrences including alopecia and diarrhea. The companies will continue to explore tisotumab vedotin in combination therapies to address unmet needs.

Seagen Inc. has announced promising results from a Children’s Oncology Group (COG) study presented at the ASCO Annual Meeting. A Phase 3 trial involving 600 pediatric patients demonstrated that the combination of ADCETRIS (brentuximab vedotin) with standard chemotherapy reduced the risk of disease progression or death by 59% compared to traditional methods. With a median follow-up of 42.1 months, the event-free survival rate was 92.1% for the ADCETRIS group. These findings support Seagen's recent application to the FDA for expanding ADCETRIS's indication to include children and adolescents.

Takeda Pharmaceutical and Seagen announced that their Phase 3 ECHELON-1 trial for ADCETRIS (brentuximab vedotin) achieved key survival metrics in patients with advanced Hodgkin lymphoma. Data showed a 41% reduction in the risk of death compared to standard treatment ABVD, with a 93.9% six-year overall survival rate for the ADCETRIS combination. The results will be presented at the ASCO and EHA Annual Meetings. The safety profile of ADCETRIS remained consistent with prior studies, showing no new safety signals. This trial marks a significant advancement in treatment options for advanced-stage Hodgkin lymphoma patients.

Genmab (Nasdaq: GMAB) announced the acceptance of multiple abstracts for presentation at the 2022 ASCO Annual Meeting, showcasing investigational medicines from its pipeline. Key highlights include data from the phase 1b/2 EPCORE™ NHL-2 trial evaluating epcoritamab (DuoBody-CD3xCD20) in B-cell non-Hodgkin lymphoma and an oral presentation of tisotumab vedotin in recurrent or metastatic cervical cancer. The findings reinforce Genmab's commitment to delivering innovative therapies, with partnerships alongside AbbVie (ABBV) and Seagen (SGEN).

Seagen announced positive topline results from the pivotal phase 2 MOUNTAINEER trial for TUKYSA in HER2-positive metastatic colorectal cancer. The trial demonstrated a 38.1% confirmed objective response rate, with a median duration of response of 12.4 months. The combination treatment was well-tolerated, although common side effects included diarrhea and fatigue. These findings will form the basis for a supplemental New Drug Application to the FDA under the Accelerated Approval Program. Full data will be presented at the ESMO World Congress on Gastrointestinal Cancer in Barcelona from June 29 to July 2, 2022.

Seagen Inc. announced the resignation of Clay Siegall as President and CEO following an ongoing investigation into his conduct. Felix Baker, previously Lead Independent Director, is now Chair of the Board. Roger Dansey, Chief Medical Officer, remains Interim CEO during the search for a permanent replacement. The Board stated that this decision was made in the best interest of Seagen and its stakeholders, assuring stakeholders of the company's strong position and commitment to growth despite the leadership transition.

Seagen Inc. (NASDAQ: SGEN) announced that CEO Clay Siegall is on a leave of absence due to allegations of domestic violence, which he denies. Roger Dansey, M.D., has been appointed as Interim CEO. The Board is conducting a thorough investigation with an independent law firm. Nancy Simonian, M.D., emphasized the company’s commitment to high standards of employee conduct while the ongoing investigation seeks to clarify the situation. The Board expressed confidence in Dansey and the leadership team amidst the company's robust drug pipeline and past performance.

Seagen Inc. (Nasdaq: SGEN) reported total revenues of $426 million for Q1 2022, a 27% increase from Q1 2021. Net product sales reached $383 million, with PADCEV contributing $100 million after receiving EC approval for metastatic urothelial cancer. The company anticipates total revenues between $1.665 billion and $1.745 billion for 2022, maintaining previous guidance. Despite growth, Seagen reported a net loss of $136.5 million or $0.74 per share.