NEW YORK, NY / ACCESSWIRE / February 8, 2018 / Array BioPharma has been on fire all week after announcing encouraging data results and strong earnings for its second quarter. Shares of Seattle Genetics closed in the red despite also reporting a strong earnings report.

RDI Initiates Coverage on:

Array BioPharma Inc.
https://rdinvesting.com/report/?ticker=ARRY

Seattle Genetics, Inc.
https://rdinvesting.com/report/?ticker=SGEN

Array BioPharma Inc. shares closed up 7.80% on Wednesday and was one of the biggest gainers on the NASDAQ. The stock hit a new high of $17.98 during intra-day trading on trading volume of about 9.6 million shares. Shares continued to gain for a second day in a row after the company announced on Tuesday that it and its partner Pierre Fabre, had encouraging overall survival (OS) data from a pivotal phase III study evaluating COMBO450. COMBO450 is a combination medicine of binimetinib and encorafenib. The combo therapy was developed to treat patients who have BRAF-mutant advanced, unresectable, or metastatic melanoma. Pierre Fabre Medicament SAS holds the right to commercialize binimetinib and encorafenib in Europe, Asia and Latin America. Array also announced second quarter financial results that beat on both the top and bottom line. The company reported a loss of 17 cents was narrower than the loss of 23 cents analysts expected and revenue of $42.2 million was higher than the $25 million Wall Street had been looking for. The company's Chief Executive Officer, Ron Squarer, will be speaking at the LEERINK Partners 7th Annual Global Healthcare Conference in New York on February 14th.

Access RDI's Array BioPharma Inc. Research Report at:
https://rdinvesting.com/report/?ticker=ARRY

Seattle Genetics, Inc. shares closed down 4.31% yesterday on about 2.5 million shares traded. Despite earnings and revenues topping estimates in the company's latest quarterly report, it didn't seem like traders were too impressed. The company reported a loss of 41 cents a share for the fourth quarter 2017 period. This was better than the loss of 43 cents that analysts had been expecting but it was a wider loss compared to the 39 cent loss the company saw in the year ago quarter. Revenue at $129.6 million was also ahead of expectations of $112.06 million and represented a 23.1% YOY growth. Seattle Genetics is the name behind Adcetris, an antibody-drug conjugate medication used to treat relapsed or refractory Hodgkin lymphoma and systemic anaplastic large cell lymphoma. Adcetris saw product sales of $83.7 million, which was a 18% increase YOY. Looking ahead the company has forecast total revenues of $470 million to $505 million for full year 2018. It also projected that net sales of Adcetris are expected in the range of $340 million to $360 million.

Access RDI's Seattle Genetics, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=SGEN

Our Actionable Research on Array BioPharma Inc. (NASDAQ: ARRY) and Seattle Genetics, Inc. (NASDAQ: SGEN) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com