Seattle Genetics Inc Wa (SGEN) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seattle Genetics Reports First Quarter 2020 Financial Results

-ADCETRIS® (Brentuximab Vedotin) Net Sales in U.S. and Canada of $164.1 Million in the First Quarter, an Increase of 22 percent Over the First Quarter of 2019-
-PADCEV(Enfortumab Vedotin-efjv) Net Sales in U.S. Reach $34.5 Million in First Full Quarter of Commercialization-
-TUKYSA (Tucatinib) Approved by FDA for Patients with HER2-Positive Metastatic Breast Cancer Who Have Received One or More Prior Anti-HER2 Regimens in the Metastatic Setting-
-Conference Call Today at 4:30 p.m. ET-

BOTHELL, Wash. — April 30, 2020
 — Seattle Genetics, Inc. (Nasdaq:SGEN) today reported financial results for the first quarter ended March 31, 2020. The Company also highlighted ADCETRIS (brentuximab vedotin) and PADCEV (enfortumab vedotin-ejfv) commercial and development accomplishments, TUKYSA (tucatinib) U.S. Food and Drug Administration (FDA) approval and launch as well as progress with its lead programs to treat cancer.
“We have had a remarkable start to 2020, delivering record product sales in the first quarter that are now coming from both ADCETRIS and PADCEV. Notably, strong PADCEV sales in the first full quarter of launch reflect the unmet need among patients with metastatic bladder cancer,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “With the recent approval of TUKYSA for patients with metastatic HER2-positive breast cancer, we have now launched our third product just four months after our second. In addition, we are investing in potential label expansions in all three products to maximize their use to patients in need. We are also preparing for European commercial operations and have hired general managers in major European markets ahead of potential ex-U.S. approvals of TUKYSA. With two new products, growing revenues, and an advancing pipeline of novel cancer programs, we have exciting prospects for future growth.”

Lead Program Highlights
Ex-U.S. Regulatory Progress: In March 2020, Takeda received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use to extend the marketing authorization for ADCETRIS to include ADCETRIS in combination with CHP (cyclophosphamide, doxorubicin, prednisone) as a treatment for adult patients with previously untreated systemic anaplastic large cell lymphoma. The positive opinion is based on results of the phase 3 ECHELON-2 trial.
Expanded Collaboration with Bristol-Myers Squibb for Trial in Early Stage Hodgkin Lymphoma: In April 2020, Seattle Genetics and Bristol-Myers Squibb agreed to co-fund an additional cohort in an ongoing trial that will evaluate the combination of ADCETRIS, OPDIVO® (nivolumab) and chemotherapy for frontline stage I and II Hodgkin lymphoma.

The following information was filed by Seattle Genetics Inc Wa (SGEN) on Thursday, April 30, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Ticker: SGEN
CIK: 1060736
Form Type: 10-Q Quarterly Report
Accession Number: 0001060736-20-000013
Submitted to the SEC: Thu Apr 30 2020 5:16:39 PM EST
Accepted by the SEC: Thu Apr 30 2020
Period: Tuesday, March 31, 2020
Industry: Biological Products No Disgnostic Substances

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