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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seattle Genetics Reports Fourth Quarter and Year 2012 Financial Results

-ADCETRIS® (Brentuximab Vedotin) Net Product Sales of $35.4 Million in the Fourth Quarter

and $138.2 Million for the Year in 2012-

-Strong Financial Position with Year-end Cash and Investments of $364.3 Million Enables Company to

Continue Broad Expansion of ADCETRIS and Advance Pipeline of Six Other Clinical and Late-Stage Preclinical ADCs-

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

Bothell, WA — February 12, 2013 — Seattle Genetics, Inc. (Nasdaq: SGEN) today reported financial results for the fourth quarter and twelve months ended December 31, 2012. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development activities, its antibody-drug conjugate (ADC) pipeline and collaborator progress as well as upcoming milestones.

“We are strongly positioned to continue delivering on our goal of bringing ADCETRIS to patients through commercial execution. Additionally, we are building upon encouraging data in earlier lines of therapy and a range of CD30-positive malignancies through our clinical development and regulatory activities,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer at Seattle Genetics. “There are more than 20 ongoing ADCETRIS clinical trials, including four phase III trials, designed to broadly explore its therapeutic potential. In addition, we have made important progress in advancing six other ADCs in clinical and preclinical development, and our ADC technology is being broadly applied in more than a dozen clinical development programs by our collaborators. Our strong financial position and cash flow from product sales and collaborations enable us to continue building value in the company.”

Recent ADCETRIS Highlights

 

   

Announced that Health Canada has granted a Notice of Compliance with conditions (NOC/c), approving ADCETRIS for relapsed or refractory Hodgkin lymphoma (HL) and systemic anaplastic large cell lymphoma (sALCL).

 

   

Announced that Takeda Pharmaceutical Company Limited and Millennium: The Takeda Oncology Company received European Commission conditional marketing authorization for ADCETRIS for relapsed or refractory CD30-positive HL and relapsed or refractory sALCL. The approvals triggered milestone payments to Seattle Genetics totaling $25 million.

 

   

Reported data from more than a dozen abstracts at the American Society of Hematology (ASH) annual meeting on the investigation of ADCETRIS in a range of CD30-positive malignancies, including front-line HL, front-line mature T-cell lymphoma (MTCL), cutaneous T-cell lymphoma (CTCL) and relapsed diffuse large B-cell lymphoma (DLBCL).

 

   

In collaboration with Millennium, initiated a global phase III clinical trial of ADCETRIS in combination with chemotherapy for front-line advanced HL (the ECHELON-1 trial). The trial is being conducted under a Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) provided scientific advice.

 

   

In collaboration with Millennium, initiated a global phase III clinical trial of ADCETRIS in combination with chemotherapy for front-line MTCL (the ECHELON-2 trial). The trial is being conducted under a SPA agreement with the FDA and the EMA provided scientific advice.


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Tuesday, February 12, 2013 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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Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (tables)
Accounts Payable And Accrued Liabilities - Schedule Of Accounts Payable And Accrued Liabilities (detail)
Collaboration And License Agreements
Collaboration And License Agreements (tables)
Collaboration And License Agreements - Additional Information (detail)
Collaboration And License Agreements - Schedule Of Revenues Recognized Under Agreements (detail)
Collaboration And License Agreements - Summary Of Research And Development Expenses Incurred And Funding Provided To Agensys (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Noncancelable Obligations (detail)
Condensed Quarterly Financial Data
Condensed Quarterly Financial Data (tables)
Condensed Quarterly Financial Data - Schedule Of Quarterly Financial Data (detail)
Employee Benefit Plan
Employee Benefit Plan - Additional Information (detail)
Fair Value
Fair Value (tables)
Fair Value - Additional Information (detail)
Fair Value - Schedule Of Auction Rate Securities Where Fair Value Is Determined Using Level Three Inputs (detail)
Fair Value - Schedule Of Financial Assets By Level Within Fair Value Hierarchy (detail)
Income Taxes
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Income Taxes - Schedule Of Deferred Tax Assets (detail)
Income Taxes - Schedule Of Effective Income Tax Rate (detail)
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Inventories - Schedule Of Inventories (detail)
License Agreements
Nature Of Business And Summary Of Significant Accounting Policies
Nature Of Business And Summary Of Significant Accounting Policies (policies)
Nature Of Business And Summary Of Significant Accounting Policies (tables)
Nature Of Business And Summary Of Significant Accounting Policies - Additional Information (detail)
Nature Of Business And Summary Of Significant Accounting Policies - Schedule Of Concentration Of Accounts Receivable Attributable To Certain Major Collaborator (detail)
Nature Of Business And Summary Of Significant Accounting Policies - Schedule Of Percent Of Revenue Associated With Each Major Collaborator (detail)
Nature Of Business And Summary Of Significant Accounting Policies - Schedule Of Property And Equipment, Estimated Useful Lives (detail)
Nature Of Business And Summary Of Significant Accounting Policies - Schedule Of Weighted-average Shares Excluded From Number Of Shares Used To Calculate Basic And Diluted Net Loss Per Share (detail)
Property And Equipment
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Stockholders' Equity
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Stockholders' Equity - Additional Information (detail)
Stockholders' Equity - Schedule Of Activity Under Stock Purchase Plan (detail)
Stockholders' Equity - Schedule Of Common Stock Reserved For Future Issuance (detail)
Ticker: SGEN
CIK: 1060736
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-080019
Submitted to the SEC: Wed Feb 27 2013 4:17:45 PM EST
Accepted by the SEC: Wed Feb 27 2013
Period: Monday, December 31, 2012
Industry: Biological Products No Disgnostic Substances

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