Seattle Genetics said it raised net proceeds of $97.5 million from a public offering of 11. 5 million shares. The Bothell-based biotechnology company...

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Seattle Genetics said it raised net proceeds of $97.5 million from a public offering of 11.5 million shares. The Bothell-based biotechnology company said its underwriters exercised their option to buy 1.5 million shares beyond the 10 million initally offered.

Seattle Genetics plans to use the proceeds for its research and development efforts, including clinical trials for its proprietary product candidates, and for general corporate purposes, the company said in a statement.

The company had $124 million in cash and investments as of September 30, and an operating loss of $39 million for the year’s first nine months.