NASDAQ Stock Movers on FDA Decision (SGEN, CTIC, ICGN, IRWD)

Seattle Genetics, Inc. (NASDAQ:SGEN) fell 0.25% to $12.17 on heavy volume after Genmab A/S (Copenhagen: GEN) and Seattle Genetics, Inc. (Nasdaq: SGEN) have entered an antibody-drug conjugate (ADC) research collaboration agreement.

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Genmab will have the rights to utilize Seattle Genetics' ADC technology with its HuMax-TF antibody targeting the Tissue Factor antigen.

Seattle Genetics, Inc. (Seattle Genetics) is a clinical-stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune diseases. In August 2009, the Company completed enrollment to a trial of its lead product candidate, brentuximab vedotin (SGN-35).

Cell Therapeutics, Inc. (NASDAQ:CTIC) rose 1.25% to $0.39 on heavy volume after it announces their intention to appeal the U.S. FDAs previously announced decision regarding pixantrone new drug application.

According to the release: "CTI is preparing to file an appeal under the FDA's Formal Dispute Resolution process. CTI reached this decision by taking into account that CTI believes there are no approved or effective therapies for patients with relapsed or refractory aggressive NHL beyond second relapse, and that PIX 301 was the first and only randomized trial in this patient group to demonstrate significant improvement in clinically relevant endpoints including complete response rate, overall response rate, and progression free survival while being safe and effective in this indication."

Icagen, Inc. (NASDAQ:ICGN) plunged 30% to $0.162. it announced that due to the occurrence of a serious adverse event in the photosensitivity study of ICA-105665, the company has suspended further enrollment in the study.

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Icagen, Inc. (Icagen) is a biopharmaceutical company focused on the discovery, development and commercialization of orally-administered small molecule drugs that modulate ion channel targets.

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) rose 5.28% to $10.26 after it announced positive top-line results from the first of two Phase 3 clinical trials assessing the efficacy and safety of the investigational drug, linaclotide, in patients with irritable bowel syndrome with constipation.

Ironwood Pharmaceuticals, Inc., formerly Microbia, Inc. is an entrepreneurial pharmaceutical company that discovers, develops and focuses to commercialize medicines targeting important therapeutic needs.

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