seattle genetics inc (SGEN) Key Developments
Seattle Genetics and Genmab Enters into New Antibody-Drug Conjugate Collaboration
Sep 10 14
Seattle Genetics Inc. and Genmab A/S announced that the companies have entered into an additional antibody-drug conjugate (ADC) collaboration. Under the new agreement, Genmab will pay an upfront fee of $11 million for exclusive rights to utilize Seattle Genetics' auristatin-based ADC technology with Genmab'sHuMax(r)-AXL, an antibody targeting AXL which is expressed on multiple types of solid cancers. Seattle Genetics is also entitled to receive more than $200 million in potential milestone payments and mid-to-high single digit royalties on worldwide net sales of any resulting products. Genetics and Genmab entered into an ADC collaboration for HuMax-TF-ADC in September 2010. HuMax-TF-ADC, targeting the Tissue Factor antigen, is in a Phase I trial for solid tumors. Seattle Genetics has the right to exercise a co-development option to share all future costs and profits for HuMax-TF-ADC at the end of Phase I.
Seattle Genetics Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 01:30 PM
Sep 2 14
Seattle Genetics Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 01:30 PM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: Clay B. Siegall, Co-Founder, Chairman, Chief Executive Officer and President.
Seattle Genetics Initiates Phase 1 Clinical Trial of Antibody-Drug Conjugate SGN-CD70A for Non-Hodgkin Lymphoma and Renal Cell Carcinoma
Aug 12 14
Seattle Genetics Inc. announced the initiation of a phase 1 clinical trial evaluating SGN-CD70A for CD70-positive relapsed or refractory non-Hodgkin lymphoma (NHL) and metastatic renal cell carcinoma (RCC). SGN-CD70A is a novel antibody-drug conjugate (ADC) targeted to CD70 utilizing the company's newest ADC technology. The phase 1 trial is designed to assess the safety and antitumor activity of SGN-CD70A. The company previously observed single-agent activity, including objective responses, in a phase 1 clinical trial with an initial CD70-targeted ADC called SGN-75 but did not observe enough activity to support further clinical development. To build on that experience, the company developed a next-generation anti-CD70 ADC utilizing its newest technology comprising a highly potent cytotoxic agent, called a pyrrolobenzodiazepine (PBD) dimer, stably linked to a CD70-directed antibody via proprietary site-specific conjugation technology. Preclinical data presented at the 2014 American Association of Cancer Research (AACR) annual meeting demonstrate SGN-CD70A induces targeted cell killing via DNA damage to treated tumors in both RCC and NHL models. The new SGN-CD70A study is a phase 1, open-label, multi-center, dose-escalation clinical trial. The primary endpoints are to estimate the maximum tolerated dose and to evaluate the safety of SGN-CD70A. In addition, the trial will evaluate the antitumor activity and pharmacokinetics in patients with CD70-positive metastatic RCC or relapsed or refractory NHL, including mantle cell lymphoma and diffuse large B-cell lymphoma. The study is designed to evaluate SGN-CD70A administered every three weeks and will enroll approximately 95 patients at multiple centers in the United States.
Seattle Genetics Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year of 2014
Jul 31 14
Seattle Genetics Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $68.308 million against $73.558 million a year ago. Loss from operations was $17.643 million against $7.009 million a year ago. Net loss was $17.590 million or $0.14 per diluted share against $6.899 million or $0.06 per diluted share a year ago.
For the six months, the company reported total revenues of $136.579 million against $130.886 million a year ago. Loss from operations was $34.014 million against $23.396 million a year ago. Net loss was $33.891 million or $0.28 per diluted share against $23.163 million or $0.19 per diluted share a year ago.
The company anticipates that 2014 revenues from ADCETRIS net product sales in the U.S. and Canada will be slightly higher than previously anticipated, and are now expected to be in the range of $160 million to $170 million. The company also anticipates that 2014 research and development expenses will be slightly lower than previously anticipated, and are now expected to be in the range of $235 million to $250 million.
Seattle Genetics Inc. to Report Q2, 2014 Results on Jul 31, 2014
Jul 9 14
Seattle Genetics Inc. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 31, 2014