AP NEWS

Seattle Genetics: 4Q Earnings Snapshot

February 7, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGEN at https://www.zacks.com/ap/SGEN

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