Seattle Genetics, Inc. (NASDAQ:SGEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 14, 2016, John P. McLaughlin notified the Company of his decision to resign as a member of the Board of Directors (the “Board”) of Seattle Genetics, Inc. (the “Company”), which resignation was made effective as of the close of business on December 16, 2016. Mr. McLaughlin indicated that he is resigning from the Board so that he can focus on his current responsibilities as President and Chief Executive Officer of PDL BioPharma, Inc., and that his decision to resign was not the result of any disagreement with the Company, its management or the Board. In connection with Mr. McLaughlin’s resignation from the Board, the Board appointed Daniel G. Welch, a current independent director, to the Audit Committee of the Board.

About Seattle Genetics, Inc. (NASDAQ:SGEN)

Seattle Genetics, Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE). The Company’s pipeline includes other clinical-stage ADC programs, which are SGN-CD33A, SGN-CD19A, SGN-LIV1A, SGN-CD70A, ASG-22ME, and ASG-15ME, and SEA-CD40, which is based on its sugar-engineered antibody (SEA) technology. SGN-CD33A is an ADC composed of an anti-CD33 monoclonal antibody indicated for the treatment of acute myeloid leukemia (AML). SGN-CD19A is an ADC composed of an anti-CD19 monoclonal antibody indicated for the treatment of hematologic malignancies. SGN-LIV1A is an ADC composed of an anti-LIV-1 monoclonal antibody indicated for the treatment of LIV-1-positive metastatic breast cancer.

Seattle Genetics, Inc. (NASDAQ:SGEN) Recent Trading Information

Seattle Genetics, Inc. (NASDAQ:SGEN) closed its last trading session down -1.28 at 61.33 with 733,161 shares trading hands.