Here's Why Seattle Genetics Stock Jumped 25.7% in October

Shares of Seattle Genetics (NASDAQ: SGEN) gained over 25% last month, according to data provided by S&P Global Market Intelligence. The company reported positive results from the HER2CLIMB clinical trial evaluating a combination therapy involving tucatinib, its lead drug candidate, to treat advanced breast cancer.

Patients taking the combination of tucatinib, trastuzumab, and capecitabine demonstrated a 46% reduction in the risk of disease progression or death compared to those taking trastuzumab and capecitabine alone. The study also met two key secondary endpoints, which bolsters the case for approving tucatinib. Seattle Genetics plans to submit a new drug application (NDA) in the first quarter of 2020. 

Image source: Getty Images.

Continue reading

Source Fool.com