BOTHELL, Wash.--(BUSINESS WIRE)--April 3, 2006--Seattle Genetics, Inc. (Nasdaq:SGEN - News) today announced the closing of its public offering of 7,300,000 shares of common stock. Net proceeds to the company are approximately $37.2 million. Banc of America Securities LLC and CIBC World Markets Corp. acted as joint book-running managers for the offering. Seattle Genetics intends to use the net proceeds to fund clinical and preclinical development of its existing product candidates, manufacturing of clinical-grade materials and for other research and development initiatives.
