Seagen Inc. - SGEN STOCK NEWS

Seagen reported record financial results for Q4 and the year ended December 31, 2020, achieving over $2.2 billion in total revenues, a significant increase from $916.7 million in 2019. Major contributors included net product sales of $1 billion from ADCETRIS, PADCEV, and TUKYSA. The company also highlighted progress in clinical trials and regulatory approvals, including a BLA submission for tisotumab vedotin. Seagen anticipates 2021 revenues to range between $1.4 billion to $1.5 billion and is well-positioned financially with $2.7 billion in cash and investments.

Seagen and Genmab submitted a Biologics License Application (BLA) to the FDA for tisotumab vedotin, aimed at treating recurrent or metastatic cervical cancer following chemotherapy. The BLA is based on the innovaTV 204 phase 2 clinical trial, which showed durable responses and a manageable safety profile in patients. Approximately 13,500 women are diagnosed with invasive cervical cancer annually in the U.S., highlighting the need for effective therapies. This milestone could significantly benefit patients with high unmet medical needs.

Seagen Inc. (Nasdaq: SGEN) will release its fourth quarter and full year 2020 financial results on February 11, 2021, after U.S. markets close. A conference call and webcast for discussing the results and providing a corporate update will take place at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors can access the call via telephone or online. Seagen, based in Seattle, focuses on developing transformative cancer medicines. More details about its products and pipeline can be found on its website.

Seagen announced its participation in the 39th Annual J.P. Morgan Virtual Healthcare Conference scheduled for January 11, 2021, at 2:00 p.m. ET. The presentation will be available for live webcast and replay on Seagen's website, enhancing accessibility for investors and stakeholders. As a global biotechnology company, Seagen focuses on developing transformative cancer therapies, headquartered in the Seattle area with operations across North America and Europe. For more insights and updates, visit www.seagen.com.

Seagen Inc. (Nasdaq:SGEN) announced that the European Medicines Agency's CHMP recommended approval of TUKYSA® (tucatinib) for adults with HER2-positive locally advanced or metastatic breast cancer who have undergone at least two prior anti-HER2 treatments.

This recommendation is based on pivotal trial HER2CLIMB, showing a 46% reduction in cancer progression risk and a 34% reduction in death risk when combined with trastuzumab and capecitabine.

The approval decision now rests with the European Commission.

Seagen Inc. (Nasdaq:SGEN) presented multiple data updates for ADCETRIS® (brentuximab vedotin) at the 62nd American Society of Hematology Annual Meeting. The five-year results from phase 3 ECHELON-1 and ECHELON-2 clinical trials showed that ADCETRIS combined with chemotherapy resulted in improved progression-free survival (PFS) in patients with advanced classical Hodgkin lymphoma and CD30-expressing peripheral T-cell lymphoma. Additionally, initial findings from a phase 2 trial combining ADCETRIS with Opdivo® for relapsed mediastinal gray zone lymphoma were disclosed, highlighting a 70% objective response rate.

Seagen Inc. (Nasdaq:SGEN) presented immuno-oncology data at the SITC 35th Annual Meeting, showcasing advancements in antibody-drug conjugates (ADCs) and the proprietary sugar-engineering antibody (SEA) technology. Key findings highlighted the efficacy of MMAE-based ADCs in inducing immunogenic cell death, enhancing the synergy with other immunotherapies. Notable presentations include data for tisotumab vedotin and SEA-TGT, currently in clinical trials. These insights support Seagen's commitment to innovation in cancer treatment and its potential impact on improving patient outcomes.

Seagen Inc. (Nasdaq:SGEN) will showcase multiple presentations of ADCETRIS^® (brentuximab vedotin) at the upcoming 62^nd American Society of Hematology (ASH) Annual Meeting, occurring virtually from December 5-8, 2020. Notably, five-year data updates from the phase 3 ECHELON-1 and ECHELON-2 trials will be presented, demonstrating significant improvements in clinical outcomes when ADCETRIS is combined with chemotherapy in treating advanced-stage Hodgkin lymphoma and peripheral T-cell lymphoma. This meeting features 18 presentations highlighting ADCETRIS's role in ongoing and future cancer treatment strategies.

Seagen Inc. (Nasdaq: SGEN) will host a virtual R&D day for investors and analysts on November 16, 2020, at 10:00 a.m. Eastern Time. The event will feature presentations by the leadership team, focusing on the clinical development of Seagen's marketed products: ADCETRIS® (brentuximab vedotin), PADCEV® (enfortumab vedotin-ejfv), and TUKYSA® (tucatinib). Attendees can access the event through the company's website, where a replay will also be available afterward.