Seattle Genetics gets investor attention
Chicago, USA-based investment firm William Blair & Company says it has begun monitoring biotechnology group Seattle Genetics, a specialist developer of antibody-based cancer drugs, forecasting aggressive growth and issuing an outperform rating on the company's shares.
In July, Seattle reported a second quarter net loss of $10.6 million, 23.2% worse than the deficit it recorded in the comparable period in 2006. The firm said, however, that the decline was largely a result of increased investment in its drug development pipeline. Clay Siegall, Seattle's chief executive, said that development candidates SGN-40, a therapy for non-Hodgkin's lymphoma, the acute myeloid leukemia drug SGN-33 and SGN-35 for Hodgkin's disease, were receiving the majority of the firm's R&D focus.
SGN-40 could earn $800M
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