Seagen Inc. - SGEN STOCK NEWS

Seagen Inc. announced plans to build a new 270,000-square-foot biomanufacturing facility in Everett, Washington. This facility aims to enhance the company's manufacturing capacity and provide greater control over cancer medicine production. Expected to be operational by 2024, it will employ up to 200 skilled workers. The project is poised to strengthen Seagen's existing operations and support its pipeline of more than 17 programs targeting various cancers.

Seagen has received European Commission approval for PADCEV (enfortumab vedotin) as a monotherapy for adult patients with locally advanced or metastatic urothelial cancer, who previously received platinum-based chemotherapy and a PD-1/L1 inhibitor. This approval is based on the EV-301 trial, which showed a median overall survival benefit of 12.9 months versus 9 months for chemotherapy. Urothelial cancer affects an estimated 204,000 patients in Europe annually, marking this as a significant step forward in treatment options.

Astellas Pharma and Seagen announced that the European Commission has approved PADCEV (enfortumab vedotin) for adult patients with advanced urothelial cancer. This approval follows the EV-301 trial, where enfortumab vedotin showed a median overall survival benefit of 3.9 months compared to chemotherapy. The approval is significant for the estimated 204,000 urothelial cancer cases diagnosed in Europe in 2020, offering a new treatment option for patients with limited alternatives.

Seagen Inc. announced a jury ruling in favor of its U.S. Patent No. 10,808,039, finding that Daiichi Sankyo willfully infringed on the patent by selling its product Enhertu. Seagen was awarded $41.82 million in damages for past infringements. Furthermore, the company plans to seek royalties on future U.S. sales of Enhertu through the patent's expiration in November 2024. Ongoing arbitration regarding technology ownership with Daiichi Sankyo is expected to reach a decision by mid-2022.

Seagen Inc. (NASDAQ: SGEN) announced promising preclinical data on enfortumab vedotin, showing significant antitumor activity and low systemic exposure in non-muscle invasive bladder cancer (NMIBC) models. The study indicated up to 97% tumor growth inhibition and minimal toxicity, supporting the ongoing phase 1 trial (EV-104) for NMIBC patients. Additionally, new data on the novel ADCs SGN-ALPV and SGN-B7H4V highlight their potential across various tumors and an encouraging safety profile. These findings will be presented at the AACR Annual Meeting in New Orleans from April 8-13, 2022.

Seagen Inc. (NASDAQ: SGEN) will report its Q1 2022 financial results on April 28, 2022, after U.S. market close. The company will host a conference call at 4:30 p.m. ET to discuss the results and provide a business update. Investors can access the webcast at investor.seagen.com. Seagen is a global biotechnology firm focused on developing transformative cancer therapies.

Seagen and Sanofi have entered an exclusive collaboration to develop and commercialize antibody-drug conjugates (ADCs) for up to three cancer targets. This partnership combines Sanofi's monoclonal antibody technology with Seagen's ADC technology. Both companies will co-fund global development activities and share future profits. Sanofi will also provide undisclosed payments for the selected targets. The first target has already been designated, aligning with Seagen's strategy to advance cancer treatment options.

Seagen Inc. (NASDAQ: SGEN) announced its participation in a virtual fireside chat at the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 11:10 a.m. Eastern Time. This presentation will be available as a live webcast and replay through the investor section of Seagen’s website.

Seagen is a global biotechnology company focused on developing cancer medicines that significantly impact patients' lives. The company has its headquarters in the Seattle area and operates in multiple locations including California, Canada, Switzerland, and the European Union.

Astellas Pharma and Seagen announced that the CHMP of the EMA has reaffirmed its positive opinion recommending the approval of PADCEV (enfortumab vedotin) for treating locally advanced or metastatic urothelial cancer in adults who have previously received chemotherapy. The initial positive recommendation was made on December 16, 2021. If approved, PADCEV will be the first antibody-drug conjugate authorized in the EU for this indication. The decision now awaits review by the European Commission.