Seattle Genetics (SGEN) Tops Q4 EPS by 59c, Revenues Beat; Offers FY20 Sales Outlook Below Consensus

Seattle Genetics (NASDAQ: SGEN) reported Q4 EPS of $0.14, $0.59 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $289.8 million versus the consensus estimate of $224.5 million.

“At the end of 2019, we became a multi-product oncology company following the rapid FDA approval of PADCEV for previously treated metastatic urothelial cancer patients, expanding our commercial portfolio into solid tumors,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “In addition, in collaboration with Takeda, global sales of ADCETRIS exceeded $1 billion in 2019, underscoring its importance in the treatment of multiple lymphomas. As we look ahead, subject to regulatory reviews, we are well positioned to bring a third product to market with the tucatinib marketing applications in the United States, Europe and other countries for patients with metastatic HER2-positive breast cancer. Importantly, across PADCEV, tucatinib and ADCETRIS, we are advancing broad clinical development programs intended to fully explore their potential. We are executing on our mission to develop transformative cancer therapies that make a meaningful difference in people's lives.”

GUIDANCE:

Seattle Genetics sees FY2020 revenue of $810-865 million, versus the consensus of $1100 million.

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

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