Seattle Genetics Inc. (SGEN: Quote) Wednesday reported a narrower loss for the second quarter, helped mainly by higher revenues.
Net loss for the quarter narrowed to $17.2 million or $0.15 per share from $51.5 million or $0.45 per share in the same period last year.
On average, 11 analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $48.8 million, up from $13.1 million last year. Analysts expected revenues of $50.33 million.
Costs and expenses increased to $66.1 million from $64.8 million last year.
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by RTT Staff Writer
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