|Bid||158.80 x 800|
|Ask||158.98 x 800|
|Day's Range||158.76 - 162.75|
|52 Week Range||65.44 - 187.99|
|Beta (5Y Monthly)||1.41|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 27, 2020 - Nov 02, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||179.82|
Seattle Genetics, Inc. (Nasdaq:SGEN) today announced U.S. Food and Drug Administration (FDA) approval of GlaxoSmithKline’s (GSK) BLENREP™ (belantamab mafodotin-blmf), an antibody-drug conjugate (ADC) targeting B-cell maturation antigen (BCMA) that utilizes Seattle Genetics’ proprietary technology. BLENREP was developed and will be commercialized by GSK. The approval triggers a $20 million milestone payment and entitles Seattle Genetics to royalties on BLENREP product sales. BLENREP was approved for the treatment of patients with relapsed or refractory multiple myeloma who have received at least four prior therapies including an anti-CD38 monoclonal antibody, a proteasome inhibitor and an immunomodulatory agent.
With me today are Clay Siegall, president and chief executive officer; Chip Romp, executive vice president, commercial, U.S.; Todd Simpson, chief financial officer; and Roger Dansey, chief medical officer. Today's conference call will include forward-looking statements regarding future or anticipated events and results including the company's 2020 financial outlook, anticipated product sales, revenues, costs and expenses and potential clinical and regulatory milestones including data readouts, regulatory submissions and approvals.
Seattle Genetics (SGEN) reports a narrower-than-expected loss and beats sales estimates in the second quarter of 2020.