Seattle Genetics' Adcetris Sales Soar; Increasing FVE to $61
Seattle Genetics reported an impressive quarter, with 57% top-line growth from last year, pushing the biotech briefly into profitability. The firm's efforts with Adcetris for Hodgkin's lymphoma are paying off, with quarterly Adcetris sales of $122 million, representing 28% sequential growth and 65% growth from last year. As a reminder, Seattle Genetics markets the drug in the U.S. and Canada while receiving double-digit royalties from Takeda, which markets Adcetris abroad. This quarter's increas...Seattle Genetics is a biotechnology company that develops and commercializes therapies targeting cancer. The company is commercializing ADCETRIS?, or brentuximab vedotin, for the treatment of several types of lymphoma. The company is also developing a pipeline of therapies for solid tumors and blood-related cancers designed to address unmet medical needs and improve treatment outcomes for patients. Many of the company's programs, including ADCETRIS, are based on its antibody-drug conjugate (ADC), technology. The company's late-stage pipeline includes two ADCs and an oral tyrosine kinase inhibitor, for solid tumors that are in clinical trials designed to support applications for potential regulatory approvals.
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