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.

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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. In Padcev's first full quarter of commercialization, the drug generated $34.5 million in net sales, the company reported.

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Source Fool.com