Seagen (SGEN) Tops Q3 EPS by $3.00, Revenues Beat
Seagen (NASDAQ: SGEN) reported Q3 EPS of $3.50, $3.00 better than the analyst estimate of $0.50. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $508.49 million.
“Our third quarter and year-to-date strong financial performance was driven by product sales across our diverse portfolio of three marketed products as well as the positive financial impact of our recent collaborations with Merck on ladiratuzumab vedotin and TUKYSA,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seagen. “We plan to report clinical and preclinical data across our programs at several medical meetings during the remainder of 2020. In addition, we are pursuing multiple regulatory submissions, including our TUKYSA MAA that is under review by the EMA, a planned tisotumab vedotin BLA in the U.S. and global marketing applications for PADCEV. With our significant financial resources, robust drug development pipeline, expanding footprint in Europe and strategic oncology collaborations, we are well-positioned to continue building Seagen to address the unmet medical needs of cancer patients around the globe.”
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