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      Seagen Inc. (SGEN) stock is down in aftermarket – Let’s see why? - Stocks Telegraph

      By Mahrukh Rehan

      Published on

      February 10, 2022

      8:51 AM UTC

      Seagen Inc. (SGEN) stock is down in aftermarket – Let’s see why? - Stocks Telegraph

      Seagen Inc. (SGEN) experienced a decrease of 16.20% in the aftermarket because the company announced the fourth quarter and full-year 2021 results. However, the last trading session closed at $141.41 with an increase of 1.01%.

      Fourth Quarter and Full Year 2021 Results by SGEN

      SGEN announced fourth-quarter and full-year 2021 results on 9th February 2022. The company experienced revenue of about $429.9 million and $1.574 billion in the fourth quarter and full-year respectively. Moreover, TUKYSA and PADCEV were the primary contributors to the rise in net product sales in 2021 compared to the comparable periods in 2020. Moreover, TUKYSA’s growth was fueled by the company’s existing indication’s continuous penetration in the United States, as well as its global expansion following approval in the European Union in February 2021.

      Continued penetration in the initial indication, as well as FDA approval for PADCEV’s usage in another indication in July 2021, fueled PADCEV’s growth. ADCETRIS saw a modest rise as well, which was attributed in part to increased use in frontline advanced Hodgkin lymphoma. In September 2021, the FDA finally gave TIVDAK its approval. Lastly, the net loss came out to be $174.6 million and $674.5 million in the fourth quarter and full-year respectively.

      Now what?

      Strong net product sales, as well as worldwide releases of TUKYSA and the approval and launch of TIVDAK, the fourth commercial product, drove total revenues of $1.6 billion in 2021. Moreover, through comprehensive clinical development projects aimed at supporting label expansions, the company is trying to maximize the potential of the commercial portfolio.

      In addition, the company is developing a pipeline of over thirteen clinical-stage initiatives for solid tumors and hematological malignancies. In 2022, SGEN plans to hit a number of significant milestones, including significant clinical data readouts, worldwide regulatory and commercial developments, and pipeline advancements. Last but not the least, SGEN is well-positioned to continue executing the vision, with tremendous financial strength and a larger regional reach.

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