Seagen (SGEN) Misses Q3 EPS by $1.04
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Revenue Growth %: -100.0%
Financial Fact:
Net income (loss): -31.75M
Today's EPS Names:
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Seagen (NASDAQ: SGEN) reported Q3 EPS of ($1.61), $1.04 worse than the analyst estimate of ($0.57). Revenue for the quarter came in at $424.1 million versus the consensus estimate of $383.31 million.
2021 FINANCIAL OUTLOOK:
Seagen anticipates 2021 revenues, operating expenses and other costs to be in the ranges shown in the table below, which includes increased net sales expectations for ADCETRIS, PADCEV and TUKYSA, as well as higher royalty, and collaboration and license agreement revenues. Increased R&D expenses are primarily due to the license agreement with RemeGen.
| Current | Previous |
Revenues | ||
ADCETRIS net product sales | $700 million to $710 million | $675 million to $700 million |
PADCEV net product sales | $330 million to $335 million | $310 million to $325 million |
TUKYSA net product sales | $315 million to $325 million | $300 million to $315 million |
Royalty revenues | $140 million to $150 million | $125 million to $135 million |
Collaboration and license agreement revenues | $25 million to $30 million | Less than $20 million |
Operating expenses and other costs | ||
Cost of Sales | $295 million to $315 million | $270 million to $300 million |
R&D expenses | $1,190 million to $1,240 million | $900 million to $1,000 million |
SG&A expenses | $675 million to $725 million | $650 million to $725 million |
Non-cash expenses1 (primarily attributable to share-based compensation) | $225 million to $245 million | Unchanged |
For earnings history and earnings-related data on Seagen (SGEN) click here.
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