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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Seattle Genetics Inc Wa

CIK: 1060736 Ticker: SGEN

Exhibit 99.1

FOR RELEASE: Thursday, February 09, 2017

Seattle Genetics Reports Fourth Quarter and Year 2016 Financial Results

-Fourth Quarter 2016 Revenues Were $105.3 Million, Including $70.8 Million in

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

-ADCETRIS Supplemental Biologics License Application for Cutaneous T-Cell Lymphoma

Planned in Mid-2017-

-Top-Line Data from ADCETRIS Phase 3 ECHELON-1 Trial Expected in 2017 and from

Phase 3 ECHELON-2 Trial in 2018-

-Regulatory Discussions Planned to Advance Enfortumab Vedotin (ASG-22ME) into Registrational

Trials for Urothelial Cancer-

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

Bothell, WA — February 9, 2017 Seattle Genetics, Inc. (NASDAQ: SGEN), a global biotechnology company, today reported financial results for the fourth quarter and year ended December 31, 2016. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development accomplishments, vadastuximab talirine (SGN-CD33A) and enfortumab vedotin (ASG-22ME) activities, as well as progress with its pipeline of antibody-drug conjugates (ADCs) and other proprietary programs.

“Our accomplishments in 2016 were substantial, highlighted by strong progress with our ADCETRIS phase 3 trials: ALCANZA, ECHELON-1 and ECHELON-2. This progress positions us to potentially achieve a series of regulatory and commercial milestones in 2017 and 2018,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Also during 2016 we initiated the phase 3 CASCADE clinical trial of vadastuximab talirine (SGN-CD33A; 33A) and reported phase 1 data from enfortumab vedotin (ASG-22ME) that we believe support advancement of this program into registrational trials. As we evolve into a global, multi-product oncology company, we are focused on continuing to deliver on our goals of advancing our pipeline and establishing ADCs as a key component of the future of cancer care.”

ADCETRIS Program Updates

 

    ALCANZA Phase 3 Trial: Seattle Genetics and its collaborator Takeda highlighted full data from the ALCANZA phase 3 clinical trial in patients with CD30-expressing cutaneous T-cell lymphoma (CTCL) during the American Society of Hematology (ASH) annual meeting in December 2016. The trial met its primary endpoint demonstrating that treatment with ADCETRIS resulted in a highly statistically significant improvement in the rate of objective response lasting at least four months (ORR4) versus the control arm as assessed by an independent review committee (p-value <0.0001).

 

   

ALCANZA Breakthrough Therapy Designation: In November 2016, the U.S. Food and Drug Administration (FDA) granted ADCETRIS Breakthrough Therapy Designation (BTD) for the treatment of patients with CD30-expressing mycosis fungoides and primary cutaneous anaplastic large cell lymphoma who require systemic therapy and have received one prior


The following information was filed by Seattle Genetics Inc Wa (SGEN) on Thursday, February 9, 2017 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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Inside Seattle Genetics Inc Wa's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
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 (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Noncancelable Obligations (detail)
Employee Benefit Plan
Employee Benefit Plan - Additional Information (detail)
Fair Value
Fair Value (tables)
Fair Value - Additional Information (detail)
Fair Value - Schedule Of Financial Assets By Level Within Fair Value Hierarchy (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Schedule Of Company's Book Income (loss) By Jurisdiction (detail)
Income Taxes - Schedule Of Deferred Tax Assets (detail)
Income Taxes - Schedule Of Effective Income Tax Rate (detail)
Income Taxes - Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (detail)
Inventories
Inventories (tables)
Inventories - Schedule Of Inventories (detail)
Investments
Investments (tables)
Investments - Available-for-sale Securities (detail)
Investments - Estimated Fair Value Of Investments With Unrealized Losses (detail)
Investments - Summary Of Investments (detail)
License Agreements
Organization And Business
Organization And Business (policies)
Organization And Business - Additional Information (detail)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Additional Information (detail)
Property And Equipment - Schedule Of Property And Equipment (detail)
Quarterly Financial Data
Quarterly Financial Data (tables)
Quarterly Financial Data - Schedule Of Quarterly Financial Data (detail)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - 2007 Equity Incentive Plan - Additional Information (detail)
Share-based Compensation - Employee Stock Purchase Plan - Additional Information (detail)
Share-based Compensation - Performance-based Stock Option Activity - Additional Information (detail)
Share-based Compensation - Rsu Activity - Additional Information (detail)
Share-based Compensation - Schedule Of Activity Under Stock Purchase Plan (detail)
Share-based Compensation - Schedule Of Non-vested Restricted Stock Units (detail)
Share-based Compensation - Schedule Of Stock Option Activity Excluding Performance-based Stock Options (detail)
Share-based Compensation - Schedule Of Stock Options Valuation Assumptions (detail)
Share-based Compensation - Share Based Compensation Cost - Additional Information (detail)
Share-based Compensation - Stock Option Activity - Additional Information (detail)
Share-based Compensation - Summary Of Performance-based Stock Option Activity For Performance-based Options Granted Under 2007 Plan Pursuant To First Ltip Plan (detail)
Share-based Compensation - Valuation Assumptions - Additional Information (detail)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Stockholders' Equity - Schedule Of Common Stock Reserved For Future Issuance (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Schedule Of Concentration Of Accounts Receivable Attributable To Certain Major Distributors (detail)
Summary Of Significant Accounting Policies - Schedule Of Intangible Assets (detail)
Summary Of Significant Accounting Policies - Schedule Of Percent Of Revenue Associated With Each Major Distributor Or Collaborator (detail)
Summary Of Significant Accounting Policies - Schedule Of Property And Equipment, Estimated Useful Lives (detail)
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: 0001193125-17-050543
Submitted to the SEC: Tue Feb 21 2017 5:07:00 PM EST
Accepted by the SEC: Tue Feb 21 2017
Period: Saturday, December 31, 2016
Industry: Biological Products No Disgnostic Substances

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