SGEN - Is Seattle Genetics a Good Biotech Stock to Buy Now?
Less than two years ago, Seattle Genetics (NASDAQ: SGEN) received a great deal of criticism for acquiring Cascadian Therapeutics to get its hands on an early clinical-stage cancer drug called tucatinib. Since then, the stock has climbed about 91% thanks to some impressive results from the experimental cancer tablet.
Biotech analysts derided the acquisition at the time because a similar treatment called Nerlynx from Puma Biotechnology (NASDAQ: PBYI) earned an approval around six months earlier. Since then, however, sales of Nerlynx have floundered and shares of Puma Biotechnology have lost around 90% of their value.
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