Revenue Update on Seattle Genetics(NASDAQ:SGEN)

Seattle Genetics(NASDAQ:SGEN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $95.40M. Analysts estimated a revenue of $94.56M. Earnings per share were $-0.23. Analysts had estimated an EPS of $-0.32.

Seattle Genetics (SGEN) made into the market gainers list on Fridays trading session with the shares advancing 1.46% or 0.69 points. Due to strong positive momentum, the stock ended at $48.06, which is also near the day’s high of $48.07. The stock began the session at $47.2 and the volume stood at 6,52,361 shares. The 52-week high of the shares is $49.66 and the 52 week low is $26.02. The company has a current market capitalization of $6,753 M and it has 14,05,16,450 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, Clay B Siegall (President and CEO) sold 7,618 shares at $40.44 per share price.Also, On Jun 6, 2016, Darren S Cline (EVP, Commercial) sold 3,366 shares at $42.07 per share price.On Feb 17, 2016, John A Orwin (director) purchased 2,000 shares at $28.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Seattle Genetics Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s marketed product ADCETRIS or brentuximab vedotin is an antibody-drug conjugate (ADC) comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent monomethyl auristatin E (MMAE) utilizing its technology. In addition to ADCETRIS the Company’s pipeline includes six clinical-stage ADC programs consisting of SGN-CD33A SGN-CD19A SGN-LIV1A SGN-CD70A ASG-22ME and ASG-15ME and SEA-CD40 which is based on its sugar-engineered antibody (SEA) technology. In addition it has multiple preclinical and research-stage programs that employ its technologies. Its technologies include ADC technology and Seattle Genetics’ sugar-engineered antibody (SEA) technology.

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