Seattle Genetics officially announced its financial results for the Second Quarter of 2016 through a conference call on July 26, 2016. Peggy Pinkston, who is the Investor Relations and Executive Director, welcomed all the people who had attended the conference and mentioned the names of Seattle Genetics’ top executives who were present. Participants were allowed to ask questions immediately after the top executives made their remarks and at the end of the conference call.
Dr. Siegall said that he was happy with the progress the company had made in transforming ADCETRIS into a chief franchise and diversification of product and services. He noted that Seattle Genetics was on its way to achieving its goal of becoming an international multi-product oncology firm. According to Siegall, ADCETRIS had achieved record net sales in 2016 (second quarter). The SGN-CD33A has five clinical trials that are still in progress. He stated that the company had discovered promising antitumor activity in most of the ADCs.
An overview on Seattle Genetics
Seattle Genetics is a renowned biotechnology firm that focuses on developing advanced antibody-based therapies for cancer treatment and commercializes them. The firm has an industrial expertise of developing antibody-drug conjugates (ADC), an innovative technology developed to speed up the delivery of cell-killing cells to the cancer cells by modifying monoclonal antibodies. ADCs are developed to protect the non-targeted cell and therefore reduce the toxic effects associated with traditional chemotherapy while promoting antitumor activity. Seattle Genetics is on the verge of developing new products to address the unmet medical needs.
Seattle Genetics was co-founded in 1998 by Dr. Clay Siegall. Today, he is the CEO, Board chairperson, and CEO of the company. Under his able leadership, the company has developed a series of innovative antibody-based therapies for managing and treating cancer. ADCETRIS is one of the products that were developed by Seattle Genetics. The FDA approved it in 2011. Dr. Siegall has been in charge of capital raising activities, and he has managed to secure over $645 million through private and public financings. He received a degree in Zoology from the University of Maryland. He is an alumnus of esteemed George Washington University holding a Ph.D. in Genetics.
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