Seattle Genetics

Anonymous

How many have hired on from Dendreon?

Anonymous

Anonymous said:
The interview is tough? What planet are you from? It's the typical STAR format with a slight tweek. These are pretty much industry standard and allow you to make something up if you can't think of an answer immediately. The other interviews in the F2F are with your manager (piece of cake) and with the regional director (low key, and very conversational). Sell them on why you should be the chosen one!!! WTF is so hard about that???

Just because you "made it to the F2F you are excellent whatever the outcome"... What is this, Little League where everyone gets a trophy? The person who posted this is a loser.

This.

Anonymous

Anonymous said:
My manager just gave me copies of all the tests we will have in training. Happy studying suckers.

Still on the top of the world? Ya gotta get more than just 100% on the test. Still so confident of yourself? Please chime in mr/ms cheater.

Anonymous

Anonymous said:
I have little doubt you guys with oncology backgrounds and relationships will fit right in and do a great job.

However, it would appear if one is coming from outside the disease state it will be a tough opportunity to achieve.

I spent some time on their web-site and reviewed both management and board members.

The people they have on board are wicked smart.

After reading the bios, it was obvious as state schooled MBA grad would not make it passed the "smell test".

If you are what they are seeking, it could be a once in a life time opportunity.

Best of luck.

Wicked smart. What are you from Baaaston?

Anonymous

Anonymous said:
Wicked smart. What are you from Baaaston?

You mean state schools like the University of Michigan, University of Va, UNC, Ga Tech. Pullleaaase! This a rep job for crying out loud. You dont exctly need a harvard mba to deliver lunches and 30 second sound bites.

Anonymous

Anonymous said:
You mean state schools like the University of Michigan, University of Va, UNC, Ga Tech. Pullleaaase! This a rep job for crying out loud. You dont exctly need a harvard mba to deliver lunches and 30 second sound bites.

What about marketing? Dr. Charley Horse has his degree in social work from New Mexico State in Las Cruces, NM. I would have attended myself but my SATs were too high. What a tool!

Anonymous

Today's news is not good. Drug launch may be delayed by months if not a year. What does that mean for sales rep jobs?

Anonymous

Anonymous said:
Today's news is not good. Drug launch may be delayed by months if not a year. What does that mean for sales rep jobs?

it means we are done. i was told when interviewing that the company could only afford to pay for about 3 months or so if we were delayed

Anonymous

Anonymous said:
Today's news is not good. Drug launch may be delayed by months if not a year. What does that mean for sales rep jobs?

Nice try. SGEN just needs to confirm their studies w/ the FDA prior to the Aug. 30 PDUFA. With a unanamous ODAC for both indications, the FDA will have a very hard time delaying this. Stock was halted during the ODAC meetings, thats why when it was finally able to trade again, you saw the precipitous drop to lower so fast. Do some research. SGEN will be fine, and so will Adcetris.

Anonymous

Broad indication is out the window. Only Hodgkins patients who failed chemo and transplant/ALCL who have relapsed.
ODAC....While a faster approval would get Adcetris on the market sooner and reduce Seattle Genetics' expenses, analysts said the panel did not appear confident that the company's current late-stage study will be enough to prove the drug works.

Anonymous

Anonymous said:
Broad indication is out the window. Only Hodgkins patients who failed chemo and transplant/ALCL who have relapsed.
ODAC....While a faster approval would get Adcetris on the market sooner and reduce Seattle Genetics' expenses, analysts said the panel did not appear confident that the company's current late-stage study will be enough to prove the drug works.

Narrow indication, outrageous price and misc j-code. Good luck to all.

Anonymous

Re: Seattle Genetics don't think it'll be easy...Merrill research below

Panel supports approval, BUT

Panel votes for Adcetris, despite SGEN's poor showing
The FDA advisory committee voted unanimously in favor of accelerated approval
for SGEN's drug Adcetris for two rare lymphomas, including post transplant
Hodgkin's lymphoma (HL) and anaplastic large cell lymphoma (ALCL).

While this news is positive and as expected, and was driven by the fact that Adcetris is a
"wildly active" drug, there were an unexpected series of disappointing points
coming out of the panel that negatively impacts management credibility in our
view, and raises uncertainties over the timing of Adcetris approval, and the timing
of Adcetris market expansion: (1) the FDA was adamant and the panel agreed
that SGEN should have filed the marketing application under the accelerated
review process; while SGEN had guided investors to expect accelerated approval,
this approach created significant tension with the FDA, and led the FDA to state it
would work with SGEN but withhold approval until proper confirmatory studies
could be designed; (2) the FDA clearly stated its requirement that SGEN either
redesign an ongoing study (AETHERA) and/or propose new clinical studies prior
to the Aug 30 PDUFA date, implying timelines are lengthier to approve a second
indication and expand Adcetris' initial market; (3) the FDA expressed a clear
intention to approve Adcetris within the post transplant HL setting, a narrower
label than the company had guided investors to expect. Despite SGEN
management communicating high expectations for Adcetris labeling, the company
failed at the advisory meeting to put forth a strong argument why the committee
should grant a broad label and generally appeared unprepared to answer basic
questions about Adcetris clinical data.

No clear conclusion on design of next studies
The FDA noted that as part of the accelerated approval statutes SGEN must
negotiate with the FDA to come to a portfolio of trial designs that will confirm
activity to satisfy accelerated approval statutes. To our surprise, the panel
unanimously disagreed with the ongoing AETHERA trial design. On a positive
note, the FDA was willing to accept one "robust" and "well designed" randomized
clinical trial to support approval for Adcetris in both indications, and the FDA was
willing to consider a trial in a separate CD30+ indication to support full approval.
We expect SGEN to update investors on its FDA discussions by its Aug 30
PDUFA date, but until then trial design will remain uncertain.

Model implications
We calculate the contribution of <$1 to our $22 PO in the likely event that
transplant ineligible patients are pushed out to a later time (negative impact of
$15M on 2012 and $40M on 2013 annual revenues in our model). A greater
potential downside to our estimates and PO ($4/sh) would come if SGEN cannot
get the FDA to agree to a redesign of the AETHERA study.
Company Update BUY
Equity | United States | Biotechnology
14 July 2011
Rachel McMinn +1 415 676 3519
Research Analyst
MLPF&S
rachel.mcminn@baml.com
Masha Chapman +1 415 676 3575
Research Analyst
MLPF&S
masha.chapman@baml.com
Jeremiah Shepard +1 415 676 3537
Research Analyst
MLPF&S
jeremiah.shepard@baml.com
Stock Data
Price US$20.33
Price Objective US$22.00
Date Established 2-May-2011
Investment Opinion C-1-9
Volatility Risk HIGH
BofAML Ticker / Exchange SGEN / NAS
Bloomberg / Reuters SGEN US / SGEN.O
W
Seattle Genetics
14 July 2011
2
Price objective basis & risk

Seattle Genetics (SGEN)
Our $22 PO is based on the sum-of-parts DCF analysis that includes $17/share
for B-vedotin, $4/share for its ADC collaborations and $2/share for net cash. For
B-vedotin, we model: 1) WACC of 11%, 2) peak sales $850M in 2020, 3) sales
out to 2030 and no terminal value, 4) 5% dilution from potential future financing.
We see upside to our valuation from: 1) positive interim data from the pilot frontline
study in HL and clarity of the pivotal front line study design 2) positive data for
maintenance HL setting 3) positive data to support retreatment with B-vedotin.
Risks are: 1) regulatory risks ahead of approval and execution risks following the
launch in the salvage settings 2) unexpected data disappointments for
ongoing/anticipated B-vedotin trials and unexpected clinical strategy requirements
for planned B-vedotin trials.

Anonymous

How are all of you "cocky" new hires feeling now?

Anonymous

Anonymous said:
How are all of you "cocky" new hires feeling now?

Awesome. Great place to be, great future, great benefit to patient-a new frontier. How about you-same old same old?

Anonymous

My testes ache.

Anonymous