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news.Seattle Genetics has recorded revenues of $7.1 million in the first quarter of 2008, up from $4.3 million in the first quarter of 2007.
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Net loss for the first quarter of 2008 was $17.1 million, or $0.22 per share, compared to $8.8 million, or $0.16 per share, for the same period in 2007.
Clay Siegall, president and CEO of Seattle Genetics, said: “We continue to advance and expand our robust product pipeline, including recent trial initiations with each of our clinical programs, SGN-40, SGN-33 and SGN-35. Our strong financial position allows us to execute on our development plans, and we expect continued milestone momentum over the remainder of 2008.”