Why Seagen Stock Is Trading Higher During Monday's Session

Seagen Inc SGEN shares are trading higher by 4.79% to $129.94 by after the company announced results from the Phase 2 clinical trial of ADCETRIS with novel immunotherapy combination in patients with advanced- and early-stage classical Hodgkin Lymphoma.

What Happened?

Seagen says results demonstrated a complete response (CR) rate of 88% and an overall response rate (ORR) of 93% in patients with advanced-stage disease (Part B), and a CR rate of 92% and an ORR of 95% in patients with early-stage disease (Part C).

The company added that the data showed that the combination was well-tolerated, with no new safety signals observed.

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"We are encouraged that ADCETRIS in combination with the immunotherapy nivolumab and standard chemotherapy agents showed promising efficacy and safety as a first-line treatment in patients with early- and advanced-stage classical Hodgkin lymphoma," said Marjorie Green, M.D., Senior Vice President and Head of Late-Stage Development at Seagen.

"These agents with complementary mechanisms of action warrant further investigation as a potential frontline treatment option for patients with Hodgkin lymphoma."

According to data from Benzinga Pro, Seagen has a 52-week high of $183.00 and a 52-week low of $105.43.