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Biotech stocks Facing FDA Decision in January 2023

Seagen
Seagen

Seagen Inc. (SGEN) is seeking FDA approval to expand the use of its breast cancer drug Tukysa in yet another indication – this time, in the treatment of colorectal cancer.

Tukysa in combination with Trastuzumab (Herceptin) is under Priority Review by the FDA for previously treated HER2-positive metastatic colorectal cancer, with a decision expected on January 19, 2023.

The drug in combination with Trastuzumab and capecitabine was approved by the FDA in April 2020 for the treatment of patients with advanced unresectable or metastatic HER2-positive breast cancer.

Tukysa generated net product sales of $267 million in the nine months ended Sep.30, 2022, compared to $240 million in the year-ago period.

SGEN closed Friday’s trading at $127.02, down 2.56%.