Why Seattle Genetics Shares Climbed 48.7% in the First Half
Seattle Genetics (NASDAQ: SGEN) shares rose 48.7% in the first half, according to data provided by S&P Global Market Intelligence, after the company gained U.S. regulatory approval for its second drug in less than six months. The U.S. Food and Drug Administration in April approved Tukysa for patients with metastatic HER2-positive breast cancer after approving Padcev in December for locally advanced or metastatic urothelial cancer. Urothelial cancer is the most common form of bladder cancer, and according to Grand View Research, the global drug market for the disease is growing at a 22.9% compound annual growth rate and is set to reach $3.6 billion by 2023.
