Seattle Genetics Reports Updated Results On Cancer Drug

Seattle Genetics, Inc. (NASDAQ:SGEN) and Astellas announced positive phase I results for pipeline candidate enfortumab vedotin (ASG-22ME). The candidate was assessed as monotherapy treatment for metastatic urothelial cancer (mUC).

Enfortumab vedotin is an investigational antibody-drug conjugate (ADC) to target Nectin-4, a cell adhesion molecule which is expressed on many solid tumors.

Seattle Genetics’ share price has increased 23.7% year to date compared with the Zacks classified Medical - Biomedical and Genetics industry’s gain of 2.8%.

The ongoing phase I study is assessing the safety and anti-tumor activity of enfortumab vedotin at escalating doses of 0.5 to 1.25 milligrams per kilogram (mg/kg) weekly for three of every four week cycles. The company announced data from 81 patients who were diagnosed with mUC and a median age of 67 years.

Of these patients, 46% were previously treated with checkpoint inhibitor (CPIs) and 95% had undergone treatment with a platinum-based chemotherapy. The results showed positive antitumor activity and a well-tolerated safety profile in patients with heavily pretreated metastatic urothelial cancer.

Based on the phase I study, Seattle Genetics plans to initiate a registrational monotherapy phase II trial for locally advanced or mUC patients who have been previously treated with CPI therapy in 2017. The company also plans to start a trial evaluating enfortumab vedotin in combination with ? in late 2017 as part of a broad clinical development program.

Recently, Eli Lilly and Company (NYSE:LLY) also announced positive results from a phase III study, RANGE, evaluating its oncology drug, Cyramza (ramucirumab), for expanded use in combination with docetaxel in patients with locally advanced or unresectable or metastatic urothelial carcinoma. The study met its primary end-points and demonstrated an improved progression-free survival (PFS) in patients with the given indication.

Seattle Genetics, Inc. Price

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Zacks Rank and Stocks to Consider

Seattle Genetics carries a Zacks Rank #3 (Hold). Better-ranked stocks in the health care sector include VIVUS, Inc. (NASDAQ:VVUS) and MEI Pharma, Inc. (NASDAQ:MEIP) sporting a Zacks Rank #1 (Strong Buy). You can the complete list of today’s Zacks #1 Rank stocks here.

VIVUS’ loss per share estimates narrowed from 50 cents to 39 cents for 2017 over the last 30 days. The company posted positive earnings surprises in all of the four trailing quarters, with an average beat of 233.69%.

MEI Pharma’s estimates narrowed from loss per share of 1 cent to gain per share of 1 cent for 2017 over the last 30 days. The company posted positive earnings surprises in three of the four trailing quarters, with an average beat of 66.56%.

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