Seagen Inc. (SGEN) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

SGEN Quarterly Reports

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seagen Reports First Quarter 2022 Financial Results

-Total Revenues of $426 Million in 1Q22, Including Net Product Sales of $383 Million-

-PADCEV® Approved by European Commission for Previously Treated Locally Advanced or Metastatic Urothelial Cancer-

-ADCETRIS® Overall Survival Data in Newly Diagnosed Advanced Hodgkin Lymphoma Patients to be Presented in Oral Session at ASCO Annual Meeting-

-Conference Call Today at 4:30 p.m. ET-

BOTHELL, Wash. — April 28, 2022
 — Seagen Inc. (Nasdaq:SGEN) reported financial results today for the first quarter ended March 31, 2022. The Company also highlighted PADCEV® (enfortumab vedotin-ejfv), TUKYSA® (tucatinib), ADCETRIS® (brentuximab vedotin) and TIVDAK® (tisotumab vedotin-tftv) commercial and development accomplishments, as well as progress across its deep and diverse oncology pipeline.
“Seagen delivered strong results for the first quarter of 2022 with net product sales increasing 27 percent over the first quarter of 2021, reflecting growth across our portfolio of four approved products,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. “This month the European Commission approved PADCEV for previously treated metastatic urothelial cancer, further extending the reach of our innovative medicines for cancer patients with unmet medical needs. We look forward to presenting data from more than two dozen abstracts at the upcoming ASCO Annual Meeting, including two oral presentations demonstrating the survival advantage of ADCETRIS regimens in newly diagnosed patients with advanced Hodgkin lymphoma. Other upcoming milestones in 2022 include reporting results from the TUKYSA pivotal MOUNTAINEER clinical trial in metastatic HER2-positive colorectal cancer and Cohort K of the PADCEV EV-103 trial in newly diagnosed metastatic urothelial cancer. Seagen continues to be well-positioned with significant resources and an expanded geographic footprint to continue executing upon our strategy.”

Received European Commission (EC) Approval for PADCEV in Previously Treated Metastatic Urothelial Cancer: In April 2022, Seagen and Astellas announced the EC approval of PADCEV as monotherapy for the treatment of adult patients with locally advanced or metastatic urothelial cancer who have previously received a platinum-containing chemotherapy and a PD-1/L1 inhibitor. The approval is applicable in the European Union Member States, as well as Iceland, Norway and Liechtenstein. Additionally, in April 2022, PADCEV was approved in Great Britain for the same indication.
Reported Initial Results in Patients with Muscle-Invasive Bladder Cancer (MIBC) at the American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO GU): In February 2022, initial results were presented from Cohort H of the EV-103 trial evaluating PADCEV as neoadjuvant monotherapy in patients with MIBC who are ineligible for cisplatin-based chemotherapy. The data showed an encouraging objective response rate and tolerability profile. PADCEV in combination with KEYTRUDA®(pembrolizumab) is being studied in two phase 3 clinical trials for MIBC.

The following information was filed by Seattle Genetics Inc Wa (SGEN) on Thursday, April 28, 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-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 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 (Loss), Net
Investment And Other Income (Loss), Net (Details)
Investment And Other Income (Loss), 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 (Tables)
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 - 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 (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
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: 0001060736-22-000037
Submitted to the SEC: Thu Apr 28 2022 5:00:37 PM EST
Accepted by the SEC: Thu Apr 28 2022
Period: Thursday, March 31, 2022
Industry: Biological Products No Disgnostic Substances

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