Seattle Genetics Loss Narrower Than Estimates
Posted: February 10, 2015 at 6:46 pm
By RTT News, February 10, 2015, 04:32:00 PM EDT
(RTTNews.com) - Biotechnology company Seattle Genetics Inc ( SGEN ) on Tuesday reported fourth-quarter net loss of $26.7 million or $0.22 per share compared with a loss of $15.7 million or $0.13 per share last year.
Revenues for the quarter were $74.3 million compared with $67.4 million in the prior year.
Analysts polled by Thomson Reuters estimated a loss of $0.25 per share on revenues of $69.1 million for the quarter. Analysts' estimates typically exclude special items.
Total expenses for the quarter rose to $102 million from $83 million last year, due mainly to higher research costs.
For the full year 2015 , the company expects revenues from sales of key product ADCETRIS of $200 million to $210 million and revenues from collaboration and license agreements of $60 million to $70 million.
Analysts expect revenues of $332.9 million for 2015.
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Seattle Genetics Loss Narrower Than Estimates