We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Seattle Genetics' Acute Myeloid Leukemia Drug on FDA Hold
Read MoreHide Full Article
Shares of Seattle Genetics, Inc. plunged 15.4% after the FDA placed a full clinical hold on a phase I/II study and a partial clinical hold on two phase I studies on vadastuximab talirine (SGN-CD33A) following the death of four patients.
Note that Seattle Genetics’ year-to-date share price movement shows that the company has outperformed the Zacks classified Medical-Biomedical/Genetics industry. Specifically, the stock surged almost 60% during this period, while the industry lost 0.4%.
SGN-CD33A is being developed for the treatment of patients with acute myeloid leukemia (AML).
The partial clinical hold was implemented to evaluate the potential risk of liver toxicity in patients treated with the candidate, who underwent a stem cell transplant either before or after the treatment.
Until the clinical holds are lifted, no new study on the candidate can be initiated.
In its press release, the company mentioned that it is currently working with the FDA to determine if there is any association between hepatotoxicity and treatment with SGN-CD33A, and to identify appropriate protocol amendments for patient safety and aid continuation of the studies.
Meanwhile, the company continues to enroll patients in the phase III CASCADE study in older AML patients and in a phase I/II study in myelodysplastic syndrome.
Considering that Adcetris is the only approved product in Seattle Genetics’ portfolio, clinical hold on as many as three early-stage studies on SGN-CD33A is disappointing. A successful development of pipeline candidates is essential for the company to reduce its dependence on Adcetris.
Both Vanda and Cambrex posted a positive earnings surprise thrice in the four trailing quarters with an average beat of 56.65% and 19.78%, respectively. Heska, on the other hand, posted a positive earnings surprise in all of the four trailing quarters with an average beat of 301.64%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Seattle Genetics' Acute Myeloid Leukemia Drug on FDA Hold
Shares of Seattle Genetics, Inc. plunged 15.4% after the FDA placed a full clinical hold on a phase I/II study and a partial clinical hold on two phase I studies on vadastuximab talirine (SGN-CD33A) following the death of four patients.
Note that Seattle Genetics’ year-to-date share price movement shows that the company has outperformed the Zacks classified Medical-Biomedical/Genetics industry. Specifically, the stock surged almost 60% during this period, while the industry lost 0.4%.
SGN-CD33A is being developed for the treatment of patients with acute myeloid leukemia (AML).
The partial clinical hold was implemented to evaluate the potential risk of liver toxicity in patients treated with the candidate, who underwent a stem cell transplant either before or after the treatment.
Until the clinical holds are lifted, no new study on the candidate can be initiated.
In its press release, the company mentioned that it is currently working with the FDA to determine if there is any association between hepatotoxicity and treatment with SGN-CD33A, and to identify appropriate protocol amendments for patient safety and aid continuation of the studies.
Meanwhile, the company continues to enroll patients in the phase III CASCADE study in older AML patients and in a phase I/II study in myelodysplastic syndrome.
Considering that Adcetris is the only approved product in Seattle Genetics’ portfolio, clinical hold on as many as three early-stage studies on SGN-CD33A is disappointing. A successful development of pipeline candidates is essential for the company to reduce its dependence on Adcetris.
SEATTLE GENETIC Price and Consensus
SEATTLE GENETIC Price and Consensus | SEATTLE GENETIC Quote
Seattle Genetics currently carries a Zacks Rank #3 (Hold).
Key Picks in the Sector
Some better-ranked stocks in the health care sector include Vanda Pharmaceuticals Inc. (VNDA - Free Report) , Cambrex Corp. and Heska Corp. . Each of them sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Both Vanda and Cambrex posted a positive earnings surprise thrice in the four trailing quarters with an average beat of 56.65% and 19.78%, respectively. Heska, on the other hand, posted a positive earnings surprise in all of the four trailing quarters with an average beat of 301.64%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>