Seattle Genetics (NASDAQ:SGEN) Approval Risk of B. Vedotin Lowering

Citing the quality of the data surrounding the approval process of Seattle Genetics' (NASDAQ:SGEN) b. vedotin, Needham sees the risk being lowered for approval.

Needham said, "We believe SGEN represents a stock of added interest, as 2011 may be a transformational year for the Company with the potential approval of b. vedotin in both HL and ALCL in 2H11. We remain highly impressed by the ORR rate, CR rate, and durable responses in these hard-to-treat patient populations: the quality of the data decrease the regulatory and commercialization risk going forward."

Needham & Company maintains a "Buy" rating on Seattle Genetics, which closed Wednesday at $15.54, up $0.20, or 1.30 percent. Needham has a price target of $18 on them.