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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seattle Genetics Reports Fourth Quarter and Year 2011 Financial Results

-$33.2 million of ADCETRIS™ Net Product Sales in Fourth Quarter 2011-

-Broad Clinical Program to Evaluate ADCETRIS in CD30-Positive Malignancies; Nine Ongoing

Clinical Trials; Three Additional Phase III Trial Initiations Planned-

-Conference call today at 4:30 p.m. ET-

Bothell, WA — February 13, 2012 — Seattle Genetics, Inc. (Nasdaq: SGEN) today reported financial results for the fourth quarter and year ended December 31, 2011. The company also highlighted the ADCETRIS (brentuximab vedotin) product launch, recent ADCETRIS clinical data, ongoing and planned clinical development activities and upcoming milestones.

“We are pleased with the successful launch of ADCETRIS and our execution in bringing this drug to patients in need,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Our commercialization initiatives continue to focus on expanding awareness of ADCETRIS among oncologists, particularly in the community setting, and ensuring an efficient reimbursement process. We are also executing on a broad clinical development program of ADCETRIS to evaluate its potential in earlier lines of therapy for Hodgkin lymphoma and mature T-cell lymphomas, as well as in other CD30-positive malignancies. Over the past few months, we have reported encouraging data in multiple settings that support our aggressive clinical development plans, including in front-line Hodgkin lymphoma, front-line systemic ALCL and relapsed CTCL. In addition, we and our collaborators are advancing a robust pipeline of clinical and preclinical ADC programs.”

Recent Highlights

Reported clinical data on ADCETRIS (brentuximab vedotin) in multiple settings, notably demonstrating strong progress towards the company’s goal of redefining front-line therapy for Hodgkin lymphoma and mature T-cell lymphomas. ADCETRIS has not been approved for use in any of the following settings. Data were presented from:

 

   

A phase I trial evaluating sequential and concurrent administration of ADCETRIS with multi-agent chemotherapy in front-line mature T-cell lymphomas, including systemic anaplastic large cell lymphoma (sALCL).

 

   

A phase I trial evaluating concurrent administration of ADCETRIS with multi-agent chemotherapy in front-line Hodgkin lymphoma.

 

   

An investigator-sponsored phase II clinical trial of ADCETRIS in patients with cutaneous T-cell lymphoma (CTCL).

 

   

Case studies of two patients with peripheral T-cell lymphoma (PTCL).

 

   

A case series of patients with Hodgkin lymphoma or sALCL who received greater than 16 cycles of ADCETRIS.

 

   

An analysis of the outcome of patients with relapsed Hodgkin lymphoma or sALCL who received an allogeneic stem cell transplant after treatment with ADCETRIS.

Announced multiple recent clinical trial initiations to broadly evaluate ADCETRIS in CD30-positive malignancies. Highlights include:

 

   

Initiated a phase II clinical trial in relapsed or refractory CD30-positive non-Hodgkin lymphomas, including PTCL, diffuse large B-cell lymphoma and other less common lymphoma subtypes.


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Monday, February 13, 2012 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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Ticker: SGEN
CIK: 1060736
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-088821
Submitted to the SEC: Wed Feb 29 2012 3:25:21 PM EST
Accepted by the SEC: Wed Feb 29 2012
Period: Saturday, December 31, 2011
Industry: Biological Products No Disgnostic Substances

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