Pharmaceutical Business review

Seattle Genetics to sell 10 million shares

The company intends to grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares of its common stock to cover over-allotments. All of the shares are being offered by the company.

J P Morgan Securities and UBS Investment Bank are acting as joint book-running managers of the offering. RBC Capital Markets, Needham & Company and William Blair & Company are acting as co-managers.