Market-Moving News Is on Tap for Seattle Genetics

Seattle Genetics (NASDAQ: SGEN) Adcetris is already a successful drug with global sales of about $600 million, but sales could climb even higher if the Food and Drug Administration approves its use in frontline Hodgkin's lymphoma. The company recently filed for a label expansion in that indication, and it will unveil comprehensive data from the pivotal study supporting its application soon. If the data is positive, it could add confidence that the FDA will give it a green light. Is now a good time to buy this biotech stock in portfolios?

The opportunity associated with an approval in frontline Hodgkin lymphoma is big, so investors should pay attention when Seattle Genetics trial investigators explain their findings at the American Society of Hematology (ASH) conference on Dec. 10.

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Source: Fool.com