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Seattle Genetics Issues Outlook

Seattle Genetics, Inc. (SGEN) said, for fiscal 2020, the company projects: ADCETRIS net product sales of $675 million to $700 million; and collaboration and license agreement revenues of $30 million to $50 million.

Fourth-quarter net income per share was $0.14, compared to a net loss of $0.75 per share, a year ago. Fourth-quarter revenues increased to $289.8 million from $174.5 million, a year ago. ADCETRIS net sales in the U.S. and Canada were $166.2 million, a 26 percent increase over net sales of $132.1 million, a year ago. Royalty revenues were $72.3 million, compared to $24.6 million.

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