Yesterday, FDA advisory panels recommended that Seattle Genetics new "empowered antibody" drug called Adcentris (brentuximab vedotin) receive accelerated approval from the agency in late August for the treatment of Hodgkin's patients (non-responsive to chemo) and patients with anaplastic large cell lymphoma (ALCL) who've relapsed. Pretty good stuff, huh?
Today, investors thus far have rewarded the company by driving down its stock price 5.7% from $20.33 to $19.17 in premarket trading. Wow. What have you done for me lately? See Forbes.
Posted by Bruce Lehr July 15th 2011.