On 18 July 2k19, Seattle Genetics, Inc. (NASDAQ:SGEN) has shown upward/downward move of +1.96% and ended the last trade at $76.64. The trading volume was recorded to 1,900,128 shares as compared to average traded volume of 865,582 shares. The stock price switched up 11.77% 20-Days Simple Moving Average, added 12.62% from 50-Days Simple Moving Average and rose 12.77% from 200 Days Simple Moving Average.
Seattle Genetics, Inc. (SGEN) recently stated financial results for the second quarter and six months ended June 30, 2k19. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development accomplishments and progress with its late-stage clinical programs for cancer.
SECOND QUARTER AND SIX-MONTHS 2k19 FINANCIAL RESULTS
Revenues: Total revenues in the second quarter and six-month periods ended June 30, 2k19 raised to $218.4M and $413.6M, respectively, contrast to $170.2M and $310.8M for the same periods in 2k18. Revenues are comprised of the following three components:
Research and Development (R&D) Expenses: R&D expenses in the second quarter were $163.9M, contrast to $122.9M in the second quarter of 2k18. R&D expenses were $322.2M for the year-to-date in 2k19, contrast to $275.4M for the same period in 2k18. The raises reflect additional investment in the company’s late-stage pipeline including enfortumab vedotin, tucatinib and tisotumab vedotin.
Selling, General and Administrative (SG&A) Expenses: SG&A expenses in the second quarter were $82.3M, contrast to $58.3M in the second quarter of 2k18. SG&A expenses were $162.6M for the year-to-date in 2k19, contrast to $124.5M for the same period in 2k18. The raises were primarily attributed to costs to support commercialization efforts related to frontline ADCETRIS indications, the company's late-stage programs and higher infrastructure costs to support the company's continued growth.
Non-cash, share-based compensation cost for the first six months of 2k19 was $51.9M, contrast to $32.4M for the same period in 2k18.
Net Loss
Net loss for the second quarter of 2k19 was $79.2M, or $0.49 per diluted share, contrast to net income of $76.3M, or $0.47 per diluted share, for the second quarter of 2k18. Net loss in the second quarter of 2k19 included a net investment loss of $40.5M primarily associated with Seattle Genetics’ ordinary stock holdings, which are marked-to-market, contrast to a net investment gain of $106.6M in the second quarter of 2k18. For the six months ended June 30, 2k19, net loss was $92.6M, or $0.57 per share, contrast to a net loss of $35.4M, or $0.23 per share, for the six months ended June 30, 2k18. Net loss for the six months ended June 30, 2k18 included an investment gain of $88.7M.
Cash and Investments
SGEN net profit margin of the firm was recorded at -17.50% and operating profit margin was calculated at -31.00% while gross profit margin was measured as 88.30%. Beta factor, which measures the riskiness of the security, was registered at 2.02.
Seattle Genetics, Inc. (SGEN) recently stated financial results for the second quarter and six months ended June 30, 2k19. The company also highlighted ADCETRIS (brentuximab vedotin) commercialization and clinical development accomplishments and progress with its late-stage clinical programs for cancer.
SECOND QUARTER AND SIX-MONTHS 2k19 FINANCIAL RESULTS
Revenues: Total revenues in the second quarter and six-month periods ended June 30, 2k19 raised to $218.4M and $413.6M, respectively, contrast to $170.2M and $310.8M for the same periods in 2k18. Revenues are comprised of the following three components:
- Net Product Sales:ADCETRIS net sales for the U.S. and Canada in the second quarter were $159.0M, a 30 percent raise over net sales of $122.4M in the second quarter of 2k18. ADCETRIS net sales for the U.S. and Canada were $294.0M for the year-to-date in 2k19, a 35 percent raise over net sales of $217.8M for the same period in 2k18.
- Royalty Revenues:Royalty revenues in the second quarter were $23.3M, contrast to $20.6M in the second quarter of 2k18. Royalty revenues were $39.0M for the year-to-date in 2k19, contrast to $36.2M for the same period in 2k18. Royalty revenues are primarily driven by sales of ADCETRIS outside the U.S. and Canada by Takeda, which raised for the periods in 2k19 contrast to the same periods in 2k18.
- Alliance and License Contract Revenues:Amounts earned under the company’s ADCETRIS and ADC collaborations raised to $36.1M in the second quarter of 2k19, contrast to $27.2M for the same period in 2k18. Alliance revenues were $80.7M for the year-to-date in 2k19, contrast to $56.7M for the same period in 2k18. Alliance revenues included the earned portion of $12.5M and $42.5M for milestones achieved in the second quarter of 2k19 and first half of 2k19, respectively. These milestones were based on Takeda’s additional authorization s of ADCETRIS in frontline HL and Genentech’s FDA authorization of Polivy.
Research and Development (R&D) Expenses: R&D expenses in the second quarter were $163.9M, contrast to $122.9M in the second quarter of 2k18. R&D expenses were $322.2M for the year-to-date in 2k19, contrast to $275.4M for the same period in 2k18. The raises reflect additional investment in the company’s late-stage pipeline including enfortumab vedotin, tucatinib and tisotumab vedotin.
Selling, General and Administrative (SG&A) Expenses: SG&A expenses in the second quarter were $82.3M, contrast to $58.3M in the second quarter of 2k18. SG&A expenses were $162.6M for the year-to-date in 2k19, contrast to $124.5M for the same period in 2k18. The raises were primarily attributed to costs to support commercialization efforts related to frontline ADCETRIS indications, the company's late-stage programs and higher infrastructure costs to support the company's continued growth.
Non-cash, share-based compensation cost for the first six months of 2k19 was $51.9M, contrast to $32.4M for the same period in 2k18.
Net Loss
Net loss for the second quarter of 2k19 was $79.2M, or $0.49 per diluted share, contrast to net income of $76.3M, or $0.47 per diluted share, for the second quarter of 2k18. Net loss in the second quarter of 2k19 included a net investment loss of $40.5M primarily associated with Seattle Genetics’ ordinary stock holdings, which are marked-to-market, contrast to a net investment gain of $106.6M in the second quarter of 2k18. For the six months ended June 30, 2k19, net loss was $92.6M, or $0.57 per share, contrast to a net loss of $35.4M, or $0.23 per share, for the six months ended June 30, 2k18. Net loss for the six months ended June 30, 2k18 included an investment gain of $88.7M.
Cash and Investments
As of June 30, 2k19, cash and investments were $376.1M. In addition, the company held stock investments, primarily in Immunomedics ordinary stock, valued at $109.2M.
SGEN net profit margin of the firm was recorded at -17.50% and operating profit margin was calculated at -31.00% while gross profit margin was measured as 88.30%. Beta factor, which measures the riskiness of the security, was registered at 2.02.
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