Seattle Genetics: 4Q Earnings Snapshot
BOTHELL, Wash. (AP) _ Seattle Genetics Inc. (SGEN) on Thursday reported a loss of $119.8 million in its fourth quarter.
On a per-share basis, the Bothell, Washington-based company said it had a loss of 75 cents. Losses, adjusted for one-time gains and costs, came to 57 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share.
The biotechnology company posted revenue of $174.5 million in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $165.8 million.
For the year, the company reported that its loss widened to $222.7 million, or $1.41 per share. Revenue was reported as $654.7 million.
Seattle Genetics shares have climbed 30 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $73.75, a climb of 42 percent in the last 12 months.