Seattle Genetics financials boosted by strong Adcetris sales
US biotech firm Seattle Genetics (Nasdaq: SGEN) posted 2015 financials, showing the fourth-quarter revenues leapt 26% to $93.5 million, topping the projections of five analysts surveyed by Zacks Investment Research of $86.7 million. Sales for the full year were up 17% to $336.8 million, boosted by the strong performance of its lead drug Adcetris (brentuximab vedotin), which generated full-year sales of $226.1 million, up 27% year-on-year.
Net loss for the fourth quarter of 2015 was $24.9 million, or $0.18 per share, compared to a net loss of $26.7 million, or $0.22 per share, for the fourth quarter of 2014. Eight analysts surveyed by Zacks forecast a loss of $0.17 per share. For the year ended December 31, 2015, net loss was $120.5 million, or $0.93 per share, compared to a net loss of $76.1 million, or $0.62 per share, for the year earlier.
2016 financial outlook
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