Seattle Genetics (SGEN) is a biotechnology company with a focus on developing and bringing to market targeted therapies for cancer. Its antibody-drug conjugate technology makes use of the targeting ability of monoclonal antibodies to deliver cell-killing agents to cancer cells. Its current product on the market, Adcetris, is used for treating different types of lymphomas.
Seattle Genetics generated total revenues of $169.42 million in the third quarter of 2018 as compared with $135.29 million in the comparable period of 2017.
The company generates revenues from product sales, collaboration and licensing agreements, and royalties. Its Adcetris product sales surged from $79.18 million in the third quarter of 2017 to $126.98 million in the third quarter of 2018 due to higher volumes and label expansions. Royalty revenues increased from $16.67 million in the third quarter of 2017 to $22.66 million in the third quarter of 2018. Seattle Genetics’ collaboration and license agreement revenues, on the other hand, decreased from $39.44 million in the year-ago period to $19.79 million in the third quarter of 2018.
For fiscal 2018 and 2019, Seattle Genetics is expected to generate revenues of $643.72 million and $864.94 million, respectively, as compared with revenues of $482.25 million in fiscal 2017. In comparison, the fiscal 2018 revenues of peers Amgen (AMGN), Gilead Sciences (GILD), and Eli Lilly & Co (LLY) are expected at $23.36 billion, $21.77 billion, and $24.42 billion, respectively.
We take a look at Seattle Genetics’ operational performance in the next part.