Seagen Inc. (SGEN) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seagen Reports Second Quarter 2021 Financial Results

-Record Quarterly Sales for Each of ADCETRIS, PADCEV and TUKYSA; Total Net Product Sales of $347.3 Million in 2Q21, an Increase of 44 Percent Over 2Q20-
-FDA Grants PADCEV Regular Approval and Adds New Indication for Locally Advanced or Metastatic Urothelial Cancer-
-Tisotumab Vedotin BLA Under FDA Priority Review with PDUFA Date of October 10, 2021-
-Conference Call Today at 4:30 p.m. ET-

BOTHELL, Wash. — July 29, 2021 — Seagen Inc. (Nasdaq:SGEN) today reported financial results for the second quarter and six months ended June 30, 2021. The Company also highlighted ADCETRIS® (brentuximab vedotin), PADCEV® (enfortumab vedotin-ejfv) and TUKYSA® (tucatinib) commercial and development accomplishments, as well as progress across its robust oncology pipeline.
“The commercial execution across our three brands continues to be strong, achieving record quarterly net product sales for each of ADCETRIS, PADCEV and TUKYSA, as we bring these important medicines to patients around the world,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. “We are investing in clinical trials to maximize the potential of our three approved drugs, and making strong progress with TUKYSA commercialization in the European Union. Looking ahead to the remainder of 2021, Seagen is poised to add a fourth product, tisotumab vedotin, which has an FDA action date in October 2021 and we expect continued progress across our earlier-stage oncology pipeline with planned clinical data presentations and other development accomplishments.”


Received FDA Regular Approval and Additional Indication for mUC: In July 2021, Seagen and Astellas announced that the U.S. Food and Drug Administration (FDA) granted PADCEV regular approval, in addition to approving a new indication for adult patients with locally advanced or metastatic urothelial cancer (la/mUC) who are ineligible for cisplatin-containing chemotherapy and have previously received one or more prior lines of therapy. Cisplatin-ineligible patients typically have limited treatment options and a poor prognosis.

Presented Updated Results from Cohort 2 of Pivotal EV-201 Trial: In June 2021, updated results were presented at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting for the second cohort of the EV-201 trial for patients with la/mUC who received prior treatment with an immunotherapy but had not received a platinum-containing chemotherapy and were ineligible for cisplatin chemotherapy. The data showed that with extended follow-up median duration of response increased to 13.8 months. EV-201 results were also published in The Lancet Oncology and supported expansion of the PADCEV label in July 2021.

The following information was filed by Seattle Genetics Inc Wa (SGEN) on Thursday, July 29, 2021 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

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Stockholders' Equity
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)
Inventories (Details)
Inventories (Tables)
Investment And Other Income, Net
Investment And Other Income, Net (Details)
Investment And Other Income, Net (Tables)
Leases (Tables)
Leases - Additional Information (Details)
Leases - Lease Cost (Details)
Leases - Summary Of Balance Sheet Information (Details)
Legal Matters
Legal Matters (Details)
Net Loss Per Share
Net Loss Per Share - Additional Information (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 (Details)
Share-Based Compensation (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Amortization Expense (Details)
Summary Of Significant Accounting Policies - Finite-Lived Intangible Assets (Details)
Ticker: SGEN
CIK: 1060736
Form Type: 10-Q Quarterly Report
Accession Number: 0001060736-21-000027
Submitted to the SEC: Thu Jul 29 2021 5:19:36 PM EST
Accepted by the SEC: Thu Jul 29 2021
Period: Wednesday, June 30, 2021
Industry: Biological Products No Disgnostic Substances

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