Puget Sound Business Journal -- Seattle Genetics Inc. said it will sell 10 million shares of stock priced at $15.50 in an effort to raise $155 million.
The Bothell biotech (NASDAQ: SGEN) said it will use money from the stock offering “to fund potential regulatory approval of brentuximab vedotin and continuing preparations for the potential commercial launch of brentuximab vedotin, to fund Seattle Genetics’ research and development efforts, including clinical trials and manufacturing campaigns for its product candidates, and for working capital and general corporate purposes.
Shares in Seattle Genetics opened for trading Wednesday at $16.17.
