Seattle Genetics (SGEN) Prices 5.74M Share Public Offering

Seattle Genetics, Inc. (Nasdaq: SGEN) announced today the pricing of an underwritten public offering of 5,740,000 shares of its common stock. Upon closing, the aggregate price to the public will be approximately $55.8 million. UBS Investment Bank acted as sole manager for the offering. Seattle Genetics intends to use the net proceeds from this offering to fund research and development, including clinical trials and manufacturing campaigns for its proprietary product candidates, and for general corporate purposes, including working capital.