Investors not swayed by fanfare over Adcetris news
The US Food and Drug Administration (FDA) and US biotech Seattle Genetics (Nasdaq: SGEN) were keen to play up the FDA’s expansion of its approval for Adcetris (brentuximab vedotin) to treat adult patients with previously untreated stage III or IV classical Hodgkin lymphoma (cHL) in combination with chemotherapy.
They stressed the fact that this was the first new frontline treatment for Hodgkin lymphoma in 40 years and the strength of data supporting the Adcetris combination over the current standard-of-care, which is a chemotherapy only regimen.
While the news is hugely significant for certain cHL patients, the approval was less than some investors had hoped for, as reflected by Seattle Genetics’ share price closing 1.6% down on Tuesday, at $58.46.
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