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

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seagen Reports Third Quarter 2021 Financial Results

-Total Net Product Sales of $366.5 Million in 3Q21, an Increase of 37 Percent Over 3Q20-
-FDA Granted TIVDAK Accelerated Approval for Previously Treated Recurrent or Metastatic Cervical Cancer-
-Completed Enrollment in both PADCEV EV-103 Trial Cohort K in First-Line Metastatic Urothelial Cancer and in TUKYSA MOUNTAINEER Trial in Previously Treated HER2-Positive Metastatic Colorectal Cancer-
-Entered into Exclusive Worldwide License and Co-Development Agreement with RemeGen for Disitamab Vedotin, a Novel HER2-targeted Antibody-Drug Conjugate-
-Conference Call Today at 4:30 p.m. ET-

BOTHELL, Wash. — October 28, 2021
 — Seagen Inc. (Nasdaq:SGEN) reported financial results today for the third quarter and nine months ended September 30, 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.
“We reported net product sales of approximately $1 billion for the year to date and $366 million for the third quarter of 2021, reflecting growth across our portfolio of approved medicines. We also added a fourth marketed product in September with the U.S. launch of TIVDAK, an important new medicine for women with previously treated metastatic cervical cancer,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. “In addition to strong commercial performance, we continue to work to maximize the potential of our approved drugs through broad clinical development progress. We also expanded our late-stage pipeline by entering a collaboration with RemeGen for disitamab vedotin, a novel HER-2 targeted antibody-drug conjugate (ADC). Across our early and late-stage pipeline, we are advancing 13 programs for a range of solid tumors and hematologic malignancies, including four programs that are expected to enter the clinic within the next year.”


Received FDA Approval: In September 2021, TIVDAK was granted accelerated approval by the FDA for the treatment of adult patients with recurrent or metastatic cervical cancer with disease progression on or after chemotherapy. TIVDAK is the first and only ADC approved in this setting and is Seagen's fourth drug to be approved by the FDA. Seagen is developing TIVDAK in collaboration with Genmab. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trials.

Presented Interim Results of Combination Therapy at the European Society for Medical Oncology (ESMO) Congress 2021: In September 2021, interim results were presented from two cohorts of the phase 1b/2 innovaTV 205 trial evaluating TIVDAK in a combination regimen for recurrent or metastatic cervical cancer. The combination with carboplatin in the first-line setting and separately the combination with KEYTRUDA (pembrolizumab) in previously treated patients showed encouraging, durable antitumor activity. Both combinations demonstrated a manageable and acceptable safety profile.

The following information was filed by Seattle Genetics Inc Wa (SGEN) on Thursday, October 28, 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 (Parenthetical)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
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)
Income Taxes
Income Taxes (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) Income Per Share
Net (Loss) Income Per Share (Tables)
Net (Loss) Income Per Share - Additional Information (Details)
Net (Loss) Income Per Share- Schedule Of Net Income (Loss) Per Share (Details)
Remegen License Agreement
Remegen License Agreement (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: 0001060736-21-000038
Submitted to the SEC: Thu Oct 28 2021 5:10:38 PM EST
Accepted by the SEC: Thu Oct 28 2021
Period: Thursday, September 30, 2021
Industry: Biological Products No Disgnostic Substances

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