Needham & Company Maintains a 'Buy' on Seattle Genetics (SGEN); ASCO Meeting Highlights Include Durable Responses Induced By B. Vedotin
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Seattle Genetics (NASDAQ: SGEN), PT $22.
Needham analyst says, "At the 2011 ASCO Meeting, investigators presented updated data from b. vedotin (ADCETRIS) pivotal trial in r/r HL and Phase 2 trial in r/r systemic ALCL, as well as initial data from a Phase 1 trial of SGN-75 in RCC and NHL. Highlights of the presentations included: 1) b. vedotin in r/r HL: Overall response rate (ORR) was 75%, as previously reported, including 34% CR rate. The median duration of response was 6.7 mo, but reached 20.5 mo for pts with a CR. One-year OS rate was 89%; 2) b. vedotin in r/r sALCL: ORR was 86%, as previously reported, with an improved CR rate to 57% noted. The median duration of response was 12.6 mo, but reached 13.2 mo for pts with a CR; and 3) SGN-75 data: Results from 41 pts in a Phase 1 dose-escalation study of SGN-75 in metastatic r/r RCC (n=25) or r/r NHL (n=16) showed that SGN-75 was well tolerated, and 3.0 mg/kg q3wk was identified as the recommended study dose. Initial antitumor activity is encouraging (2 PRs/8 SDs in RCC, 1 CR in NHL), and the study continues with a focus on 15 additional RCC pts. We believe the updated results further demonstrate the impressive activity of b. vedotin in heavily pretreated r/r HL and r/r sALCL patient populations. The durable responses observed were substantial as commented by investigators Drs Chen and Pro."
For more ratings news on Seattle Genetics click here and for the rating history of Seattle Genetics click here.
Shares of Seattle Genetics closed at $19.51 yesterday.
Needham analyst says, "At the 2011 ASCO Meeting, investigators presented updated data from b. vedotin (ADCETRIS) pivotal trial in r/r HL and Phase 2 trial in r/r systemic ALCL, as well as initial data from a Phase 1 trial of SGN-75 in RCC and NHL. Highlights of the presentations included: 1) b. vedotin in r/r HL: Overall response rate (ORR) was 75%, as previously reported, including 34% CR rate. The median duration of response was 6.7 mo, but reached 20.5 mo for pts with a CR. One-year OS rate was 89%; 2) b. vedotin in r/r sALCL: ORR was 86%, as previously reported, with an improved CR rate to 57% noted. The median duration of response was 12.6 mo, but reached 13.2 mo for pts with a CR; and 3) SGN-75 data: Results from 41 pts in a Phase 1 dose-escalation study of SGN-75 in metastatic r/r RCC (n=25) or r/r NHL (n=16) showed that SGN-75 was well tolerated, and 3.0 mg/kg q3wk was identified as the recommended study dose. Initial antitumor activity is encouraging (2 PRs/8 SDs in RCC, 1 CR in NHL), and the study continues with a focus on 15 additional RCC pts. We believe the updated results further demonstrate the impressive activity of b. vedotin in heavily pretreated r/r HL and r/r sALCL patient populations. The durable responses observed were substantial as commented by investigators Drs Chen and Pro."
For more ratings news on Seattle Genetics click here and for the rating history of Seattle Genetics click here.
Shares of Seattle Genetics closed at $19.51 yesterday.
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