On Jan 8, 2007, Seattle Genetics Inc. (SGEN) and Genentech (DNA) "reached an agreement for developing and commercializing the cancer-fighting antibody SGN-40."
"Under the agreement, San Francisco-based Genentech would make an upfront payment of $60 million to Seattle Genetics with potential milestone payments that could exceed $800 million, the companies said in a press release.
Seattle Genetics also would receive escalating double-digit royalties on annual net sales of SGN-40."
According to Reuters PR from Friday, "Analysts also said Seattle Genetics had executives on a marketing trip in New York last week that appears to have helped spark investor attention."
Good luck doing homework.
Position: The writer had no position in SGEN or DNA at the time of writing this article.
I believe Cisco Systems (CSCO) has cheap fundamentals and should be trading upwards of $40, if it traded at an industry average multiple of 44.
Cisco is expected to report earnings on Tue, Feb 6, 2007 at 4:30 pm EST.
CSCO's quarterly revenue growth Year over Year is 24.9% and I believe they will maintain or beat this mark.
Keep an eye for the earnings announcement from Toyota Motor Corp (TM) tomorrow at 1 am EST.
Position: The writer had no position in CSCO or TM at the time of writing this article.
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