SeaGen Tacks on $23M

2/3/11

Seattle Genetics said today that its underwriters have exercised their options to purchase another 1.5 million shares at $15.50 apiece, which they were entitled to as part of a financing announced yesterday. The underwriter purchases mean the company has raised another $23 million, bringing the total of the new financing to $178 million. Seattle Genetics (NASDAQ: SGEN) is ramping up marketing and manufacturing this year as it seeks FDA approval for its first drug.

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