Why Seattle Genetics, Inc. Fell Today
Seattle Genetics (NASDAQ: SGEN) is down 5.9% as of this writing, having been down as much as 10.5% Friday following a weekend of presentations at the American Society of Hematology (ASH) meeting.
The biotech has issued four press releases containing data from the meeting so far today, including a midmorning release, which might be helping reverse the weak opening.
Two of the data reports over the weekend probably aren't moving the stock. One was five-year survival data from a phase 1 trial testing Adcetris in newly diagnosed patients with mature T-cell lymphoma. The trial only had 26 patients, and there were no progression events or deaths in the trial since the three-year follow-up was reported. Essentially that's the best investors could hope for.
Source: Fool.com
