Business

An investment firm raked in $730 million in a single day after making a huge bet on a biotech stock

2 monthes ago   |   By Business Insider

Investment firm Baker Bros. Advisors profited $730 million Monday after its stake in Seattle Genetics soared on positive drug news, according to Bloomberg data .
The biotech company's tucatinib treatment surpassed expectations in a recent breast cancer study and improved the condition for patients whose cancer had reached their brains, the company said .
Baker Bros. held a 29% stake in the company as of June 30, a position now worth about $5 billion after the positive drug news.
Watch Seattle Genetics trade live here .
Investment firm Baker Bros. Advisors netted a $730 million profit...
Read more ...

 

An investment firm raked in $730 million in a single day after making a huge bet on a biotech stock

An investment firm raked in $730 million in a single day after making a huge bet on a biotech stock

2 monthes ago   |   By Business Insider

Investment firm Baker Bros. Advisors profited $730 million Monday after its stake in Seattle Genetics soared on positive drug news, according to Bloomberg data .
The biotech company's tucatinib treatment surpassed expectations in a recent breast cancer study and improved the condition for patients whose cancer had reached their brains, the company said .
Baker Bros. held a 29% stake in the company as of June 30, a position now worth about $5 billion after the positive drug news.
Watch Seattle Genetics trade live here .
Investment firm Baker Bros. Advisors netted a $730 million profit...
Read more ...

 




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