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news.Seattle Genetics has reported revenues of $13.05m for the second quarter ended 30 June 2011, compared to $36.88m for the same period in 2010.
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For the second quarter of 2011, the company has posted net loss of $51.51m, or $0.45 loss per diluted share, compared to $8.32m, or $0.08 loss per diluted share, for the same period in 2010.
Loss from operations for the second quarter of 2011 was $51.79m, compared to $8.88m for the same period in 2010.
For the six months ended 30 June 2011, the company reported revenues of $25.23m, compared to $83.33m for the same period in 2010.
Loss from operations was $84.76m for the six months of 2011, compared to $2.03m for the same period in 2010.
The company has reported net loss of $84.18m for the six months of 2011, compared to $3.14m for the same period in 2010.
Seattle Genetics president and CEO Clay Siegall said they are prepared to execute on a successful commercial launch of Adcetris through their commercial infrastructure, including marketing, sales and reimbursement functions.
"We are also investing in clinical trials of Adcetris in other CD30-positive malignancies and earlier lines of therapy for Hodgkin lymphoma and systemic ALCL," Siegall said.