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Seagen (SGEN) Inks Deal With LAVA Therapeutics for LAVA-1223
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Seagen Inc. recently announced that it has entered into an exclusive license agreement with Netherland-based immuno-oncology company, LAVA Therapeutics N.V. (LVTX - Free Report) , to develop, manufacture and commercialize the latter’s LAVA-1223.
LAVA-1223, a bispecific T cell engager, is currently being developed in preclinical studies using LAVA’s proprietary Gammabody technology for treating epidermal growth factor receptor (“EGFR”)-expressing solid tumors.
Shares of LVTX were up 97.5% on Monday, following the announcement.
Per the latest agreement, SGEN will make an upfront payment of $50 million to LAVA while receiving an exclusive global license to develop LAVA-1223. LAVA is also entitled to receive around $650 million in potential milestone payments as well as royalties ranging from single-digit to mid-teens on future net sales of LAVA-1223.
The deal also gives Seagen an option to nominate up to two additional tumor targets using LAVA’s proprietary Gammabody technology platform.
The above deal looks like a good strategic fit for Seagen’s expertise in developing first-in-class targeted cancer therapies along with its global development and commercialization capabilities.
Shares of Seagen have declined 12.5% so far this year compared with the industry’s decrease of 27.9%.
Image Source: Zacks Investment Research
Currently, Seagen’s portfolio includes four marketed drugs, Adcetris, Padcev, Tukysa and the newly approved Tivdak, which are approved for treating different types of cancer indications.
All these drugs have witnessed a strong uptake so far, with Adcetris being the majority contributor to Seagen’s top line. The drug has been approved by the FDA for six cancer indications.
Several label expansion studies on Adcetris, Padcev, Tukysa and Tivdak are currently underway, wherein a potential approval is likely to drive sales further in the days ahead.
Earlier this month, the FDA accepted for priority review Seagen’s supplemental new drug application (sNDA) for Tukysa in combination with Roche's (RHHBY - Free Report) Herceptin (trastuzumab), for treating adult patients with HER2-positive colorectal cancer, who have received at least one prior treatment regimen for unresectable or metastatic disease.
With the FDA granting priority review to the sNDA, a decision from the regulatory body is expected on Jan 19, 2023.
In April 2020, the FDA approved Tukysa in combination with Roche's Herceptin and Xeloda (capecitabine) to treat adult patients with HER2-positive locally advanced or metastatic breast cancer and those who have received at least two prior anti-HER2 treatment regimens.
Aptose Biosciences’ loss per share estimates narrowed 15.7% for 2022 and 15% for 2023 in the past 60 days.
Earnings of Aptose Biosciences surpassed estimates in three of the trailing four quarters and missed on the remaining occasion. APTO delivered an earnings surprise of 2.23%, on average.
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Seagen (SGEN) Inks Deal With LAVA Therapeutics for LAVA-1223
Seagen Inc. recently announced that it has entered into an exclusive license agreement with Netherland-based immuno-oncology company, LAVA Therapeutics N.V. (LVTX - Free Report) , to develop, manufacture and commercialize the latter’s LAVA-1223.
LAVA-1223, a bispecific T cell engager, is currently being developed in preclinical studies using LAVA’s proprietary Gammabody technology for treating epidermal growth factor receptor (“EGFR”)-expressing solid tumors.
Shares of LVTX were up 97.5% on Monday, following the announcement.
Per the latest agreement, SGEN will make an upfront payment of $50 million to LAVA while receiving an exclusive global license to develop LAVA-1223. LAVA is also entitled to receive around $650 million in potential milestone payments as well as royalties ranging from single-digit to mid-teens on future net sales of LAVA-1223.
The deal also gives Seagen an option to nominate up to two additional tumor targets using LAVA’s proprietary Gammabody technology platform.
The above deal looks like a good strategic fit for Seagen’s expertise in developing first-in-class targeted cancer therapies along with its global development and commercialization capabilities.
Shares of Seagen have declined 12.5% so far this year compared with the industry’s decrease of 27.9%.
Image Source: Zacks Investment Research
Currently, Seagen’s portfolio includes four marketed drugs, Adcetris, Padcev, Tukysa and the newly approved Tivdak, which are approved for treating different types of cancer indications.
All these drugs have witnessed a strong uptake so far, with Adcetris being the majority contributor to Seagen’s top line. The drug has been approved by the FDA for six cancer indications.
Several label expansion studies on Adcetris, Padcev, Tukysa and Tivdak are currently underway, wherein a potential approval is likely to drive sales further in the days ahead.
Earlier this month, the FDA accepted for priority review Seagen’s supplemental new drug application (sNDA) for Tukysa in combination with Roche's (RHHBY - Free Report) Herceptin (trastuzumab), for treating adult patients with HER2-positive colorectal cancer, who have received at least one prior treatment regimen for unresectable or metastatic disease.
With the FDA granting priority review to the sNDA, a decision from the regulatory body is expected on Jan 19, 2023.
In April 2020, the FDA approved Tukysa in combination with Roche's Herceptin and Xeloda (capecitabine) to treat adult patients with HER2-positive locally advanced or metastatic breast cancer and those who have received at least two prior anti-HER2 treatment regimens.
Zacks Rank & Stock to Consider
Seagen currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Aptose Biosciences Inc. (APTO - Free Report) , which has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Aptose Biosciences’ loss per share estimates narrowed 15.7% for 2022 and 15% for 2023 in the past 60 days.
Earnings of Aptose Biosciences surpassed estimates in three of the trailing four quarters and missed on the remaining occasion. APTO delivered an earnings surprise of 2.23%, on average.