Peggy Pinkston the Executive Director, Corporate Communications, Seattle Genetics was among the speakers in the company’s in the second quarter of 2016 Financial Results Conference. Also present was President and CEO Clay Siegall, the Chief Finance Officer, Todd Simpson; Eric Dobmeier, the Chief Operating Officer; Jonathan Drachman, Chief Medical Officer and the Executive Vice President, Research and development; and the Executive Vice President, Commercial, Darren Cline.
The future of the company was discussed including upcoming financials and operations of the company. The statement were predictions that had been based on the company’s existing expectations. The company also filed documents including Form10-Q for the quarter that ended March 31st, 2016. These documents would give information concerning the risks of actual results differing from those in any forward-looking statement.
Clay Siegall also spoke and expressed his happiness for the company’s progress in the previous months that had seen them build ADCETRIS to become a major franchise in multi-product oncology company. ADCETRIS had record sales in the second quarter, and Mr. Clay added that they were now heading to the third phase trial readouts. The design will support any future label expansions and also change how CD30-expressing lymphomas are treated.
The company currently has five ongoing clinical trials. Dr. Clay also added that they had achieved hopeful antitumor activity from several other ADCs and solid tumors as well as ASG-15ME and the ASG-22ME for urothelial cancer and also SGN-LIV1A for breast cancer. Clay did also mention that they had plans for several upcoming trials.
The company’s total revenues for the second quarter was $95.4 million including ADCETRIS which made $66.2 million. The company hopes to achieve 2016 sale of between $255 and $275 million in the US and Canada. ADCETRIS presently is available in 65 countries.
Clay Siegal co-founder Seattle Genetics in 1998 and is presently the company’s president, CEO, and a member of the Board of Directors. Dr. Clay Siegal is a graduate of George Washington University and the University of Maryland. Dr. Clay has a degree in genetics and for over 20 years been studying the science behind cancer. He has also did develop therapeutic drugs to treat different diseases.
Currently, Dr. Clay has nine patents and is a member of the board for three different science journal. Dr. Clay has numerous accolades among them the Piers Award.