Seattle Genetics of Bothell isn’t yet the “new ICOS” in size, but as of now, it seems to be the leading candidate carry on the torch of Snohomish County’s biotech cluster.
When ICOS Corp.’s buyout was finalized earlier this year, the company’s market value was in the range of $2 billion, making it the largest public company with headquarters in the county. No other local biotech approached its size.
But Seattle Genetics, boosted by a string of good news over the past year, has seen its stock price rise, and its market value has increased with it. As of this week, the developer of anti-cancer drugs is worth just less than $560 million, which places it among the top four public companies in Snohomish County.
The three companies ahead of it are all non-biotechs based in Everett: Intermec, the tech company; Zumiez Inc., the teen-oriented clothing retailer; and Frontier Bank.
Seattle Genetics also is growing its workforce, but has’nt yet filled the hole left by ICOS, which employed around 700 people. Seattle Genetics has about 150 or so employees right now.
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