Why Seagen (SGEN) Shares Are Trading Higher Today - Astellas Pharma (OTC:ALPMY), Merck & Co (NYSE:MRK), Astellas Pharma (OTC:ALPMF)

Seagen Inc SGEN and Astellas Pharma Inc ALPMF announced topline results from the phase 1b/2 EV-103 trial (KEYNOTE-869) cohort K of Padcev (enfortumab vedotin-ejfv) in bladder cancer.
The cohort evaluates Padcev with Merck & Co Inc's MRK Keytruda (pembrolizumab) as first-line treatment for unresectable locally advanced or metastatic or metastatic urothelial cancer who are ineligible to receive cisplatin-based chemotherapy.
In patients treated with enfortumab vedotin and pembrolizumab, results demonstrated a 64.5% confirmed objective response rate (ORR), the primary endpoint of Cohort K.
Related: Merck's Potential Buyout Of Seagen Expected Within Next Few Weeks: Report.
The median duration of response (DOR) was not reached.
Overall, the results are generally consistent with previously reported efficacy and safety results of the EV-103 dose-escalation cohort and expansion cohort A.
Seagen, Astellas, and Merck are investigating enfortumab vedotin plus pembrolizumab as part of extensive collaboration, including three Phase 3 studies.
Price Action: SGEN shares are up 3.27% at $178.50 during the premarket session on the last check Tuesday.

Seagen Shares Jump On Positive Data From Urothelial Cancer Trial