NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Seattle Genetics, Inc. (“Seattle Genetics”) (NASDAQ:SGEN) resulting from allegations that Seattle Genetics may have issued materially misleading business information to the investing public.
On December 27, 2016, Seattle Genetics announced that the U.S. Food and Drug Administration (“FDA”) had placed a clinical hold or partial clinical hold on several early stage trials of its experimental cancer drug, vadastuximab talirine, to evaluate the potential risk of hepatotoxicity. Seattle Genetics stated that six acute myeloid leukemia patients had been identified with liver toxicity and that four had died.
On this news, Seattle Genetics shares fell $9.95 per share or over 16% from its previous closing price to close at $52.36 on December 27, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Seattle Genetics investors. If you purchased shares of Seattle Genetics on or before December 27, 2016, please visit the firm’s website at http://www.rosenlegal.com/cases-1020.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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