Seattle Genetics prostate cancer drug trial results 'encouraging'

Seattle Genetics Inc. said the results of a trial for its drug targeting the treatment of castration-resistant prostate cancer were "encouraging." Bothell-based Seattle Genetics (NASDAQ: SGEN) is developing the drug, ASG-5ME, with Agensys Inc., a unit of Tokyo-based Astellas Pharma Inc. The companies are presenting the trial results this week at the American Society of Clinical Oncology annual meeting in Chicago. “It is encouraging to observe these preliminary data with ASG-5ME in prostate cancer,…