Seattle Genetics Issues 2016 Outlook - Quick Facts

(RTTNews) - Seattle Genetics, Inc. (SGEN) announced the company anticipates 2016 total revenues to be in the range of $390 million to $430 million. This includes ADCETRIS net product sales that are expected to be in the range of $255 million to $275 million and revenues from collaboration and license agreements that are expected to be in the range of $75 million to $90 million.

The company expects R&D expenses to be in the range of $360 million to $400 million. Selling, general and administration expenses are expected to be in the range of $135 million to $145 million.

Clay Siegall, CEO, stated: "We plan to initiate a phase 3 trial with 33A in acute myeloid leukemia later this year, and we are advancing more than a dozen other clinical and preclinical programs in development for a range of hematologic malignancies and solid tumors. With a strong financial position, we are well-positioned to continue delivering on our aggressive commercial, clinical and research goals."

Net loss for the fourth quarter was $24.9 million, or $0.18 per share, compared to a net loss of $26.7 million, or $0.22 per share, for the fourth quarter of 2014. Total revenues in the fourth quarter increased to $93.5 million from $74.3 million.