Highlights of SGEN's investor presentation - 1/07/2013
Here are some highlights of CEO Clay Siegall's presentation today during the 31st Annual J.P. Morgan Healthcare Conference in San Francisco:
I heard nothing brand new (as expected), but the presentation was extremely solid and utterly upbeat. At the conclusion, the audience responded with notable applause.
If anything (and this is an exception to the general rule regarding SGEN presentations), the financial news was a primary highlight.
Siegall noted that the company ended the third quarter with $313.9 million in cash and investments – and no debt, but the situation is even better now. “We ended the year with significantly more than that,” he said. “Our fourth quarter was very strong with milestone payments, licensing deals and Adcetris sales.”
The company plans to release its fourth-quarter and full-year 2012 results on Tuesday, Feb. 12. “We are in a solid financial position…and we will keep our pipeline filled for many years to come,” he said.
- SGEN has more than 1,000 accounts already for Adcetris, with a potential of 2,000 accounts. Physician awareness of Adcetris is extremely high, at 97 percent.
- More than 20 trials are currently underway or designed to build additional use of Adcetris. “We are building data sets in many additional kinds of lymphomas…and there are many opportunities in solid tumors and other applications,” he said.
- Adcetris now has a permanent J code, making it easier for physician billing offices.
- He strongly emphasized the already-released positive trial results in Hodgkin lymphoma (96 percent complete remission with no pulmonary toxicity). He said SGEN is “redefining” the standard of care.
- He made similarly strong comments about outstanding trial results in CTCL and MTCL
- In addition to the many SGEN and partnered trials of Adcetris now underway, nearly 15 investigator-sponsored trials are underway or planned for 2013.
- Regarding the rest of the pipeline, six trials are underway or planned for 2013. Some targets: renal cell cancers, prostate cancer, breast cancer, bladder and lung cancers.
- He predicted additional ADC-related partnering deals this year.
The session then adjourned to another room for Q&A.
As always, I encourage you to listen to the replay.
Thanks Red. I have listened to very many SGEN presentations over the years. Although as you stated there is nothing new with this one, or with any of their investor presentations, the mere summarization of all that is going on with this company is just incredibly positive for its future growth. Their results to date are just the very tip of their potential.
Thanks so much for sharing that excellent summary.
Not only was the data from its ongoing clinical trials remarkable and extremely encouraging, but with the "drain" of all its many other and varied developmental programs in full swing the company ADDED to its cash position in the 4th quarter !!
Good luck to all !
Bias: This fellow Ricardo has his entire financial future tied up in SGEN shares. Be very wary of what he says. Make up your own mind......as he has likely lost his own.