The most successful and long lasting biotech company in Bothell, Washington just hiked up their stocks to $552 million. Seattle Genetics chose to do this after a rise in the amount of interest from their numerous investors. The company’s stock closed up on Monday at 4% and at $46.74 a share. The offer closed on September 16, 2015.
The CEO and co-founder of the biotechnology company -Clay Siegall- stated that the company is not expected to make large profits. They want to expand using the extra interest. Their goal is to hire one hundred new employees every year for potentially the upcoming five years. Seattle Genetics also focuses on their drug pipeline and on their successful cancer treatment drugs. Their most successful cancer treating drug to date is the Adcetris.
Clay Siegall holds his position as CEO and co-founder of Seattle Genetics from his education and his past work experiences. He has a PhD. in Genetics and a B.S. in Zoology. He has always focused his scientific studies on cancer research. In the late eighties and early nineties he worked for National Cancer Institute, National Institutes of Health. During the nineties he worked for Bristol-Myers Squibb Pharmaceutical Research Institute. After his time at Bristol-Myers Squibb Pharmaceutical Research Institute he moved on to co-found and become the CEO of Seattle Genetics in 1998. Since the company’s founding he has worked for Seattle Genetics and their development of cancer treatment drugs and other drug research in the hopes to better the health and quality of humanity.
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