Seattle Genetics (SGEN) Misses Q4 EPS by 32c, Revenues Beat; Offers FY19 Revenue Guidance Below Consensus

Seattle Genetics (NASDAQ: SGEN) reported Q4 EPS of ($0.75), $0.32 worse than the analyst estimate of ($0.43). Revenue for the quarter came in at $174.51 million versus the consensus estimate of $163.71 million.

“During 2018, we received FDA approval for two ADCETRIS frontline indications, a major accomplishment that significantly expands the number of patients eligible to benefit from treatment. These approvals for frontline advanced Hodgkin lymphoma and CD30-expressing peripheral T-cell lymphoma (PTCL) were based on phase 3 data showing superior efficacy of the ADCETRIS-containing regimens compared to combination chemotherapy agents that have been used for decades,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Additionally, we made progress in 2018 with our late-stage clinical programs, leading to important anticipated milestones this year. Notably, we expect to report top-line data in the first quarter of 2019 from the pivotal trial of enfortumab vedotin in metastatic urothelial cancer and to report top-line data later in the year from the pivotal trial of tucatinib in HER2-positive metastatic breast cancer. Taken together, we are positioned to establish ADCETRIS as the standard of care in the frontline setting in both advanced Hodgkin lymphoma and CD30-expressing PTCL, and realize our vision of becoming a company with multiple oncology products addressing unmet medical needs.”

GUIDANCE:

Seattle Genetics sees FY2019 revenue of $790-840 million, versus the consensus of $864.94 million.

For earnings history and earnings-related data on Seattle Genetics (SGEN) click here.

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