On July 26, 2016, Seattle Genetics, a biotechnology organization focused on the development of cancer treatments, held its second quarter earnings call. The company’s Chairman, President and CEO, Clay Siegall, boasted on the progress of ADCETRIS–one of many new antibody based based therapies for the treatment of cancer–as well as three other of the biotechnology firm’s urothelial and breast cancer treatments.
Clay Siegall stated ADCETRIS earned record net sales, up 20% compared with the same quarter from last year, and this drove the company’s revenue growth to $95.4 million. Looking forward, prospects are good as ADCETRIS completes phase 3 trial readouts that will change the way lymphomas are treated, and, in July, ADCETRIS was approved by the European Medical Agency (EMA) for use associated with high-risk Hodgkin Lymphoma. Additionally, the CEO reported confidence in organization’s ability to meet sales goals in the U.S. and Canada, and he reported promising results of other antibody based cancer treatments that are currently in clinical trials.
Seattle Genetics was founded in 1998 to innovate and develop new therapies for the effective treatment of cancers. Its development of antibody-drug conjugates(ADC’s) has greatly assisted in the advancement of oncological research and treatment. The company has entered strategic licences with other drug companies including Genetech (Roche), AbbVie, GlaxoSmithKline, and Pfizer and is currently developing over 20 ADC to advance cancer reseach.
Dr. Clay B. Siegall
Dr. Siegall serves as the Chairman, President and CEO of Seattle Genetics, and he serves on the Board of Directors for Alder, Biopharmaceuticals Inc. (ALDR); Mirna Therapeutics, Inc.; and Ultragenyx Pharmaceutical. He was recognized as the Pacific Northwest Ernst and Young Entrepreneur of the Year for 2012, and he was selected as the Maryland University Alumnus of the Year in Computer, Math, and Natural Sciences in 2013.