Immunomedics' Data Is Good News for Seattle Genetics, Too

Seattle Genetics' (NASDAQ: SGEN) deal to license Immunomedics' (NASDAQ: IMMU) sacituzumab govitecan, a breast cancer drug, was shelved earlier this year when activist investor venBio Select Advisors, LLC objected, claiming Immunomedics' board of directors was "giving away its crown jewel."

Losing out on its opportunity to market sacituzumab govitecan is especially disappointing to Seattle Genetics, following positive mid-stage trial results that sent Immunomedics shares soaring recently. However, Seattle Genetics won't miss out entirely if sacituzumab govitecan is a success. That's because it still owns a lot of Immunomedics stock that it acquired before its licensing deal fell apart.

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Source: Fool.com