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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seattle Genetics Reports Fourth Quarter and Year 2014 Financial Results

-Total 2014 Revenues of $286.8 Million, Including $178.2 Million in

ADCETRIS® (Brentuximab Vedotin) U.S. and Canada Net Product Sales-

-Phase 3 AETHERA Supplemental BLA Submission Planned in First Quarter 2015-

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

Bothell, WA — February 10, 2015 — Seattle Genetics, Inc. (Nasdaq: SGEN) today reported financial results for the fourth quarter and year ended December 31, 2014. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development accomplishments, progress with other proprietary pipeline programs and antibody-drug conjugate (ADC) collaborator updates. In addition, Seattle Genetics outlined anticipated 2015 activities and financial outlook.

“Our progress in 2014 was marked by year-over-year ADCETRIS net sales growth, an increasing body of data supporting the potential for ADCETRIS to become the foundation of care for a broad range of CD30-positive malignances and continued advancement of our product pipeline,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer at Seattle Genetics. “Our corporate priorities are designed to build value for the company by continuing to drive growth of ADCETRIS in its approved indications, while in parallel executing against our development strategy to expand the label. In addition, we will continue investing in our product pipeline to move multiple product candidates towards late-stage development and advance targeted therapies intended to make a difference in the lives of people with cancer.”

Recent ADCETRIS Highlights

 

  Reported data in 15 presentations at the 56th American Society of Hematology (ASH) Annual Meeting and Exposition, including seven oral presentations. Highlights included:

 

    In the phase 3 AETHERA clinical trial in Hodgkin lymphoma (HL), data were presented demonstrating that patients at high risk of relapse following an autologous stem cell transplant (ASCT) who received ADCETRIS as consolidation therapy immediately after ASCT had significant improvement in progression-free survival (PFS) compared to patients who received placebo (median of 43 months versus 24 months, respectively; hazard ratio=0.57; p-value=0.001). The safety profile of ADCETRIS in the AETHERA trial was generally consistent with the existing prescribing information.

 

    Long-term data from a phase 1 trial evaluating ADCETRIS as a component of frontline HL therapy showed a 92 percent three-year failure-free survival rate and 100 percent three-year overall survival rate, providing continued strong rationale for the ongoing phase 3 ECHELON-1 trial in frontline HL.

 

    Data were presented from multiple clinical trials of ADCETRIS as monotherapy or in combination with other agents showing strong objective response rates and a manageable safety profile, including in second-line HL, previously untreated HL patients age 60 or older, CD30-positive and CD30-undetectable relapsed or refractory diffuse large B-cell lymphoma (DLBCL), frontline DLBCL and cutaneous T-cell lymphoma (CTCL).


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Tuesday, February 10, 2015 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: 0001193125-15-069861
Submitted to the SEC: Fri Feb 27 2015 4:23:04 PM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Biological Products No Disgnostic Substances

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