Seattle Genetics Reports Q4 Earnings Results
Seattle Genetics (NASDAQ: SGEN) reported its fourth-quarter and 2019 full-year financial results this afternoon. Revenue for Q4 came in at $289.8 million, a substantial increase from the $174.5 million reported for Q4 2018. While net product sales have gone up noticeably, royalty and license agreements revenues have seen exponential growth as well, with both having almost tripled over the past 12 months.
The bulk of the quarter's revenue came from sales of Adcentris, a cancer drug used to treat patients with Hodgkin lymphoma. The drug brought in $166.2 million in sales in the U.S. and Canada, a 26% increase from the $132.1 million reported in Q4 2018.
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Source Fool.com
