This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Seattle Genetics Reports Fourth Quarter And Year 2012 Financial Results

Other Recent Highlights

  • Initiated two phase I trials of SGN-CD19A, a CD19-targeted ADC. One trial is in B-cell acute lymphocytic leukemia and one is in B-cell non-Hodgkin lymphomas.
  • Reported interim data from a phase I clinical trial of ASG-5ME in patients with metastatic pancreatic cancer demonstrating tolerability and preliminary evidence of antitumor activity. Phase I trials of ASG-5ME in prostate and gastric cancer are ongoing.
  • Reported preclinical data on SGN-CD33A, a novel ADC using the company’s next generation technology, and clinical data from collaborator programs at the ASH annual meeting.
  • Expanded the company’s ADC relationship with AbbVie (formerly part of Abbott), generating an upfront payment to Seattle Genetics of $25 million.
  • Received a milestone payment under an ADC collaboration with AbbVie triggered by AbbVie’s initiation of a phase I clinical trial of an ADC utilizing Seattle Genetics’ technology for patients with squamous cell tumors.
  • Received milestone payments under an ADC collaboration with Genentech, a member of the Roche Group, triggered by Genentech’s advancement of two ADCs utilizing Seattle Genetics’ technology into phase II clinical development.
  • Achieved a milestone payment under an ADC collaboration with GlaxoSmithKline triggered by preclinical progress with an ADC utilizing Seattle Genetics’ technology.

Upcoming Milestones

  • Initiate a phase I/II clinical trial of ADCETRIS in combination with bendamustine for second-line HL patients during the first quarter of 2013.
  • Submit a supplemental biologics license application (sBLA) for ADCETRIS for its use in the retreatment of patients and for extended duration of use beyond 16 cycles of therapy in the first half of 2013.
  • Submit an investigational new drug (IND) application to the FDA for SGN-CD33A, a CD33-targeted ADC utilizing the company’s next generation technology. A phase I trial in acute myeloid leukemia is expected to begin during 2013.
  • Submit an IND application to the FDA for SGN-LIV1A, a LIV-1-targeted ADC. A phase I trial in breast cancer is expected to begin during 2013.

Fourth Quarter and Year 2012 Financial Results

Total revenues in the fourth quarter of 2012 were $63.9 million, compared to $48.9 million in the fourth quarter of 2011. Total revenues for the year ended December 31, 2012 were $210.8 million, compared to $94.8 million in 2011. Revenues in 2012 include ADCETRIS net product sales of $35.4 million in the fourth quarter and $138.2 million for the year. Revenues in 2012 reflect $2.6 million in ADCETRIS net sales to patients in Canada under a Special Access Program that were recognized in the fourth quarter. Revenues also reflect amounts earned under the company’s ADCETRIS and ADC collaborations totaling $26.4 million in the fourth quarter of 2012 and $67.5 million for the year.

2 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs