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Seattle Genetics Inc. Message Board

  • redhot47fla redhot47fla Jul 31, 2013 4:12 PM Flag

    SGEN Q2 2013 results here - revenues up, net loss down

    Total revenues in the second quarter of 2013 were $73.6 million, compared to $48.8 million in the second quarter of 2012. Revenues for the six month period ended June 30, 2013 were $130.9 million, compared to $97.1 million for the same period in 2012. Revenues in 2013 included ADCETRIS net product sales of $35.7 million in the second quarter and $69.7 million for the year-to-date. Revenues in 2013 also included ADCETRIS royalty revenues of $3.5 million for the second quarter and $5.9 million for the year-to-date from international sales of ADCETRIS by Takeda/Millennium. Revenues also reflect amounts earned under the company’s ADCETRIS and ADC collaborations totaling $34.3 million in the second quarter of 2013 and $55.3 for the year-to-date in 2013. Collaboration revenues increased in 2013 driven by the company’s ADCETRIS collaboration with Takeda/Millennium as well as ADC collaborations, including the new collaboration with Bayer.

    Total costs and expenses for the second quarter of 2013 were $80.6 million, compared to $66.1 million for the second quarter of 2012. For the first six months of 2013, total costs and expenses were $154.3 million, compared to $129.9 million in the first six months of 2012. The planned increases in 2013 costs and expenses were primarily driven by ADCETRIS expenses, including clinical trials to explore potential additional uses of ADCETRIS and drug supply to Takeda/Millennium under the collaboration. Research and development expenses also include increased investment in the company’s ADC pipeline programs.

    Net loss for the second quarter of 2013 was $6.9 million, or $0.06 per share, compared to a net loss of $17.2 million, or $0.15 per share, for the second quarter of 2012. For the six months ended June 30, 2013, net loss was $23.2 million, or $0.19 per share, compared to a net loss of $29.5 million, or $0.25 per share, for the same period in 2012.

    As of June 30, 2013, Seattle Genetics had $338.1 million in cash, cash equivalents and inve

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43.98-0.11(-0.25%)3:08 PMEDT

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