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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

Seattle Genetics Reports Fourth Quarter and

Year 2015 Financial Results

-Total 2015 Revenues of $336.8 Million, Including $226.1 Million in

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

-Total 2016 Revenues Expected to Increase to a Range of $390 Million to $430 Million, Including ADCETRIS U.S. and Canada Net Sales of $255 Million to $275 Million-

-Vadastuximab Talirine (SGN-CD33A) Phase 3 Trial Initiation Planned

by Third Quarter of 2016-

-Data from ADCETRIS Phase 3 ALCANZA Trial Expected in Second Half of 2016-

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

Bothell, WA — February 9, 2016

Seattle Genetics, Inc. (Nasdaq: SGEN) today reported financial results for the fourth quarter and year ended December 31, 2015. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization, regulatory and clinical development accomplishments, vadastuximab talirine (SGN-CD33A; 33A) activities and progress with other proprietary pipeline programs.

“In 2015, we demonstrated significant progress across our corporate priorities. For ADCETRIS, we achieved record sales in the fourth quarter and for the year, received FDA approval for an expanded label, completed enrollment in two of three ongoing phase 3 trials and continued our efforts to establish ADCETRIS as the foundation of care for CD30-expressing lymphomas,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “We also showed substantial progress with our pipeline. We plan to initiate a phase 3 trial with 33A in acute myeloid leukemia later this year, and we are advancing more than a dozen other clinical and preclinical programs in development for a range of hematologic malignancies and solid tumors. With a strong financial position, we are well-positioned to continue delivering on our aggressive commercial, clinical and research goals.”

Recent ADCETRIS Highlights

 

  Achieved a $20 million one-time milestone payment from Takeda Pharmaceutical Company Limited (Takeda) triggered by Takeda surpassing ADCETRIS annual net sales of $200 million in its territory. The milestone will be recognized as royalty revenue in the first quarter of 2016.

 

  Reported data from multiple oral and poster sessions at the American Society of Hematology (ASH) 2015 Annual Meeting highlighting clinical trials with ADCETRIS as monotherapy and as part of combination regimens supporting the company’s goal to establish ADCETRIS as the foundation of care for CD30-expressing lymphomas, including Hodgkin lymphoma (HL), diffuse large B-cell lymphoma (DLBCL) and peripheral T-cell lymphomas (PTCL). Across corporate and investigator studies, there are more than 70 ongoing clinical trials being conducted globally with ADCETRIS.

 

  Completed enrollment of 1,334 patients in the phase 3 ECHELON-1 clinical trial. ECHELON-1 is a randomized trial evaluating ADCETRIS as part of a frontline combination chemotherapy regimen in patients with previously untreated advanced classical HL.


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Tuesday, February 9, 2016 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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Accounts Payable And Accrued Liabilities (tables)
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Collaboration And License Agreements - Additional Information (detail)
Collaboration And License Agreements - Schedule Of Revenues Recognized Under Agreements (detail)
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Commitments And Contingencies - Schedule Of Noncancelable Obligations (detail)
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Fair Value - Schedule Of Financial Assets By Level Within Fair Value Hierarchy (detail)
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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)
Ticker: SGEN
CIK: 1060736
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-470022
Submitted to the SEC: Fri Feb 19 2016 4:17:12 PM EST
Accepted by the SEC: Fri Feb 19 2016
Period: Thursday, December 31, 2015
Industry: Biological Products No Disgnostic Substances

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