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Seattle Genetics Inc Wa (SGEN) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Seattle Genetics Inc Wa

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CIK: 1060736 Ticker: SGEN

Exhibit 99.1

 

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Seattle Genetics Reports Fourth Quarter and Year 2017 Financial Results

-Record ADCETRIS® (Brentuximab Vedotin) Net Sales in U.S. and Canada of $307.6 Million in 2017, Including $83.7 Million in the Fourth Quarter-

-ECHELON-1 Supplemental BLA for ADCETRIS in Combination with Chemotherapy for Frontline Advanced Classical Hodgkin Lymphoma Granted FDA Priority Review and PDUFA Action Date of May 1, 2018-

-ECHELON-2 Data Expected in 2018-

-Proposed Acquisition of Cascadian Therapeutics Would Add Third Late-Stage Program to Pipeline-

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

Bothell, WA — February 6, 2018 — Seattle Genetics, Inc. (NASDAQ: SGEN) today reported financial results for the fourth quarter and year ended December 31, 2017. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development accomplishments, enfortumab vedotin (ASG-22ME) and tisotumab vedotin clinical activities, as well as progress with its pipeline of targeted therapies for cancer.

“During 2017, we continued to deliver on the promise of ADCETRIS as shown by growing commercial sales, FDA approval of a fourth labeled indication and, importantly, the positive outcome of our phase 3 ECHELON-1 clinical trial. We anticipate several additional ADCETRIS milestones in 2018, including its potential approval and commercial launch for use in combination with chemotherapy in frontline advanced classical Hodgkin lymphoma patients based on the ECHELON-1 trial as well as reporting data from the phase 3 ECHELON-2 trial in frontline mature T-cell lymphomas,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Our clinical pipeline is also strongly positioned, rapidly advancing our goal of becoming a multi-product oncology company. Enfortumab vedotin is in an ongoing pivotal trial for metastatic urothelial cancer and we expect to advance tisotumab vedotin into a pivotal trial for metastatic cervical cancer during the first half of this year. And recently, we entered into an agreement to acquire Cascadian Therapeutics, including global rights to its pivotal-stage program tucatinib for HER2-positive metastatic breast cancer.”

ADCETRIS Program Highlights

 

•   ECHELON-1 Filing: The U.S. Food and Drug Administration (FDA) accepted for filing a supplemental Biologics License Application (BLA) for ADCETRIS in combination with chemotherapy for the frontline treatment of patients with advanced classical Hodgkin lymphoma. The FDA granted Priority Review for the application and the Prescription Drug User Fee Act (PDUFA) target action date is May 1, 2018. Previously, the FDA granted ADCETRIS Breakthrough Therapy Designation in this setting based on data from the phase 3 ECHELON-1 clinical trial.

The following information was filed by Seattle Genetics Inc Wa (SGEN) on Tuesday, February 6, 2018 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 Comprehensive Loss (parenthetical)
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 - Summary Of Fair Value Hierarchy Of Assets Carried At Fair Value And Measured On A Recurring Basis (detail)
Immunomedics Stock Purchase Agreement
Immunomedics Stock Purchase Agreement - Additional Information (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Schedule Of Company's Pre-tax 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)
License Agreements
Manufacturing Facility Acquisition
Manufacturing Facility Acquisition (tables)
Manufacturing Facility Acquisition - Summary Of Purchase Price Allocated To Assets Acquired And Liability Assumed Based On Estimated Fair Values (detail)
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 Pursuant To Ltip Plans (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: 0001193125-18-046213
Submitted to the SEC: Wed Feb 14 2018 9:44:39 PM EST
Accepted by the SEC: Thu Feb 15 2018
Period: Sunday, December 31, 2017
Industry: Biological Products No Disgnostic Substances

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