This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Seattle Genetics Reports Third Quarter 2013 Financial Results

Stocks in this article: SGEN

Seattle Genetics, Inc. (Nasdaq: SGEN) today reported financial results for the third quarter and nine months ended September 30, 2013. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development activities, progress with its antibody-drug conjugate (ADC) pipeline, collaborator updates and upcoming milestones.

“We ended the third quarter in a strong financial position, driven by ADCETRIS net sales and collaboration revenues, leading us to increase our full year 2013 guidance in both areas. We expect several milestones over the remainder of the year, notably reporting data from multiple abstracts at the ASH annual meeting in December and advancing an additional ADC into clinical trials,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer at Seattle Genetics. “Highlights of our recent progress include securing a revised ADCETRIS U.S. label that removes the 16-cycle limitation on duration of therapy, advancing our broad clinical development of ADCETRIS including starting a phase 2 trial in frontline diffuse large B-cell lymphoma, and continuing to innovate within our product pipeline by initiating phase 1 clinical trials of two new ADCs, SGN-CD33A and SGN-LIV1A.”

Recent ADCETRIS Highlights

  • Completed treatment of all patients on the phase 3 AETHERA trial. Seattle Genetics and its collaborator, Millennium: The Takeda Oncology Company (Takeda), continue to evaluate options that could enable unblinding of the data before the end of 2014.
  • Obtained approval for U.S. prescribing information from the U.S. Food and Drug Administration (FDA) that removes the 16-cycle limitation on duration of ADCETRIS use.
  • Received orphan drug designation from the FDA for angioimmunoblastic T-cell lymphoma (AITL), an aggressive type of mature T-cell lymphoma (MTCL).
  • Initiated a phase 2 frontline trial of ADCETRIS in combination with standard therapy (R-CHOP) for patients with newly diagnosed diffuse large B-cell lymphoma.
  • Takeda received approval for ADCETRIS in Ukraine through its local affiliate.
  • Reported on multiple presentations at the 9 th International Symposium on Hodgkin Lymphoma (ISHL), including data highlighting the evaluation of ADCETRIS in the frontline and salvage settings.

ADCETRIS is currently not approved for use in frontline and salvage settings for Hodgkin lymphoma, AITL or B-cell non-Hodgkin lymphoma.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

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