Needham & Company maintains a 'Buy' on Seattle Genetics (SGEN); FDA Briefing Documents for the BLAs of ADCETRIS
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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: 11 | New: 14
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Needham & Company maintains a 'Buy' on Seattle Genetics (NASDAQ: SGEN), PT $22.
Needham analyst says, "This morning, the FDA released the briefing documents for the BLAs of ADCETRIS (b. vedotin) for the treatment of relapsed/refractory HL and systemic ALCL. Overall, the issues raised were consistent with the Street’s view on the strengths and limitations of the ADCETRIS studies to date and reflect the anticipation that the drug will likely be approved in August 2011 for both indications...We remain positively inclined towards the ADCETRIS application and market launch. Although the initial markets are moderate in size (~3000 incident/6000 prevalent US patients), we see the potential for intensive market penetration, extended duration of use, and new indications for ADCETRIS. We estimate peak US sales for ADCETRIS in the HL and ALCL indications alone may be $400-500MM."
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 $20.54 yesterday.
Needham analyst says, "This morning, the FDA released the briefing documents for the BLAs of ADCETRIS (b. vedotin) for the treatment of relapsed/refractory HL and systemic ALCL. Overall, the issues raised were consistent with the Street’s view on the strengths and limitations of the ADCETRIS studies to date and reflect the anticipation that the drug will likely be approved in August 2011 for both indications...We remain positively inclined towards the ADCETRIS application and market launch. Although the initial markets are moderate in size (~3000 incident/6000 prevalent US patients), we see the potential for intensive market penetration, extended duration of use, and new indications for ADCETRIS. We estimate peak US sales for ADCETRIS in the HL and ALCL indications alone may be $400-500MM."
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 $20.54 yesterday.
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