Seattle Genetics Q4 Loss Misses Street (SGEN)

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Seattle Genetics Q4 Loss Misses Street (SGEN)
For the year ended December 31, 2016, Seattle Genetics lost $140.1 million, or $1
per share, compared to a loss of $120.5 million, or $0.93 per share, for 2015.
Seattle Genetics Inc. (SGEN) announced financial results for the fourth quarter and full year ended December 31, 2016.
Seattle Genetics benefited from $70.8 million emanating from American
and Canadian sales of its bestselling lymphoma drug Adcetris (Brentuximab Vedotin), which was 12% higher than in the fourth quarter of 2015.
Top-line data from its ongoing Hodgkin lymphoma Phase 3 trial is expected during this year,
while data from its peripheral T-cell lymphoma (PTCL) Phase 3 trial is expected in 2018.
The fourth-quarter loss came in at $0.39 per share, which was better than analyst loss estimates of $0.34 per share.
The full year 2016 revenues stood at $418.1 million, compared to $336.8 million revenues in 2016.
Seattle Genetics recently signed a potential $2 billion licensing deal with Immunomedics
Inc. (IMMU) for its sacituzumab govitecan (IMMU-132) cancer drug.
The loss for fourth quarter was $55.1 million, compared to a loss of $24.9 million during same quarter of 2015.

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