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Seagen Inc. (SGEN) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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SGEN Annual Reports

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1
imagea.jpg

Seagen Reports Fourth Quarter and Full Year 2021 Financial Results

-Total Revenues of $1.6 Billion in 2021, Including 38 Percent Annual Increase in Total Net Product Sales to $1.4 Billion-
-Growth Across Commercial Portfolio of Four Oncology Products-
-ADCETRIS® (brentuximab vedotin) Combination Significantly Improves Overall Survival in Newly Diagnosed Patients with Advanced Hodgkin Lymphoma-
-Multiple Key Milestones Anticipated in 2022-
-Conference Call Today at 4:30 p.m. ET-

BOTHELL, Wash. — February 9, 2022
 — Seagen Inc. (Nasdaq:SGEN) today reported financial results for the fourth quarter and year ended December 31, 2021. The Company also highlighted ADCETRIS® (brentuximab vedotin), PADCEV® (enfortumab vedotin-ejfv), TUKYSA® (tucatinib) and TIVDAK® (tisotumab vedotin-tftv) commercial and development accomplishments, as well as progress across its robust oncology pipeline.
“Total revenues of $1.6 billion in 2021 were driven by strong net product sales and reflect growth across our oncology brands, as well as international launches of TUKYSA and the U.S. approval and launch of TIVDAK, our fourth marketed product,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. “We are working to maximize the potential of our commercial portfolio through broad clinical development programs that are intended to support label expansions. Additionally, we are advancing our deep and diverse pipeline of more than thirteen clinical-stage programs for both solid tumors and hematologic malignancies. We expect to achieve many milestones in 2022, including important clinical data readouts, global regulatory and commercial progress, and advances across our pipeline. We are well-positioned with significant financial strength and an expanded geographic footprint to continue executing upon our strategy.”

APPROVED PRODUCTS HIGHLIGHTS
ADCETRIS
Reported ADCETRIS Combination Significantly Improves Overall Survival (OS) in Newly Diagnosed Patients with Advanced Hodgkin Lymphoma: In February 2022, the Company announced that the phase 3 ECHELON-1 clinical trial demonstrated a statistically significant improvement in OS (p=0.009) in patients with advanced Hodgkin lymphoma following treatment with ADCETRIS in combination with chemotherapy. With approximately six years median follow up, patients receiving ADCETRIS plus doxorubicin, vinblastine, and dacarbazine (A+AVD) in the frontline setting had a 41 percent reduction in the risk of death (HR 0.59; [95% CI: 0.396 to 0.879]) compared with patients receiving doxorubicin, bleomycin, vinblastine, and dacarbazine (ABVD). The safety profile of ADCETRIS was consistent with previous studies and no new safety events were observed.


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Wednesday, February 9, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Seattle Genetics Inc Wa's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Stockholders' Equity
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Collaboration And License Agreements
Collaboration And License Agreements (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Employee Benefit Plan
Employee Benefit Plan (Details)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Details)
Fair Value - Summary Of Debt Securities (Details)
Fair Value - Summary Of Fair Value Hierarchy Of Assets Carried At Fair Value And Measured On A Recurring Basis (Details)
In-License Agreements
In-License Agreements (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Company's Pre-Tax Loss By Jurisdiction (Details)
Income Taxes - Schedule Of Deferred Tax Assets (Details)
Income Taxes - Schedule Of Effective Income Tax Rate (Details)
Income Taxes - Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Detail)
Investment And Other Income, Net
Investment And Other Income, Net (Tables)
Investment And Other Income, Net - Schedule Of Investment And Other Income (Loss) (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Balance Sheet Information (Details)
Leases - Future Minimum Payments (Details)
Leases - Supplemental Information (Details)
Legal Matters
Legal Matters (Details)
Net (Loss) Income Per Share
Net (Loss) Income Per Share (Tables)
Net (Loss) Income Per Share - Antidilutive Shares (Details)
Net (Loss) Income Per Share - Schedule Of Net (Loss) Income Per Share (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies - Additional Information (Details)
Organization And Summary Of Significant Accounting Policies - Amortization Expense (Details)
Organization And Summary Of Significant Accounting Policies - Schedule Of Concentration Of Accounts Receivable Attributable To Certain Major Distributors (Details)
Organization And Summary Of Significant Accounting Policies - Schedule Of Intangible Assets (Detail)
Organization And Summary Of Significant Accounting Policies - Schedule Of Percent Of Revenue Associated With Each Major Distributor Or Collaborator (Details)
Organization And Summary Of Significant Accounting Policies - Schedule Of Property And Equipment, Estimated Useful Lives (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Additional Information (Details)
Revenue From Contracts With Customers - Summary Of Collaboration And License Agreement Revenues By Collaborator (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - 2007 Equity Incentive Plan - Additional Information (Details)
Share-Based Compensation - Employee Stock Purchase Plan - Additional Information (Details)
Share-Based Compensation - Ltip Activity - Additional Information (Details)
Share-Based Compensation - Rsu Activity - Additional Information (Details)
Share-Based Compensation - Schedule Of Ltip Equity Activity (Details)
Share-Based Compensation - Schedule Of Non-Vested Restricted Stock Units (Details)
Share-Based Compensation - Schedule Of Stock Option Activity (Details)
Share-Based Compensation - Schedule Of Stock Options Valuation Assumptions (Details)
Share-Based Compensation - Share-Based Compensation Expense - Additional Information (Details)
Share-Based Compensation - Stock Option Activity - Additional Information (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Schedule Of Common Stock Reserved For Future Issuance (Details)
Ticker: SGEN
CIK: 1060736
Form Type: 10-K Annual Report
Accession Number: 0001060736-22-000016
Submitted to the SEC: Wed Feb 09 2022 5:27:27 PM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Biological Products No Disgnostic Substances

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