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Seattle Genetics Inc. Message Board

  • redhot47fla redhot47fla May 14, 2013 4:37 PM Flag

    Highlights of SGEN CEO Clay Siegall's presentation today...

    ...at the Bank of America/Merrill Lynch 2013 Health Care Conference in Las Vegas.

    Pretty much more of the same. Extremely upbeat presentation that had to impress the audience. No problems were heard, and no genuinely substantive news.

    But:

    - Siegall spoke with some optimism of Adcetris soon being submitted and hopefully approved for FDA breakthrough (fast track) designation for additional label uses.

    - Regarding SGEN profitability: "We could be profitable this year if that was our goal. We could do that if...we trimmed down our R&D and so on. But we have the nucleus here of being a very big company...and we think we are doing the best we can for our investors by building this company. Yes, we want to be very profitable, but right now we are a developmental company and we believe we will be coming out with many other drugs in the future."

    - Regarding a secondary, a slight change in tone. Recently, he said he would have a lot of 'splaining to do if SGEN filed for a secondary, given the company's healthy cash stash. Today, he said this: "I am not going on record as saying that we will do a financing or that we won't ever do another financing.... I'll do the best thing I can do for the company at the time. I will be opportunistic, depending on the conditions at the time, and do the best thing I can on behalf of the shareholders."

    - The BOA analyst who conducted the post-presentation Q&A focused nearly entirely on Adcetris, making the common error of seeming to suggest that SGEN is a one-trick pony, which it is not.

    That's all I have.

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