Seattle Genetics has posted a net loss of $34.86m for the third quarter 2010, or $0.34 loss per diluted share, compared to $19.83m, or $0.21 loss per diluted share, for the comparable period in 2009.
Loss from operations was $35.33m, compared to $20.57m for the comparable period in 2009.
For the nine months ended 30 June, 2010, Seattle Genetics has posted a revenue of $99.32m, compared to $30.2m for the year ago period.
Net loss was $31.72m, or $0.31 loss per diluted share, for the nine months ended 30 September 2010, compared to net loss of $69.57m, or $0.79 loss per diluted share, for the year ago period.
Loss from operations was $33.3m, compared to $72.16m for the year ago period.
Seattle Genetics president and CEO Clay Siegall said that the data they recently reported from two clinical trials with their lead program, Brentuximab vedotin, support their strategy to advance the program towards a planned biologics license application (BLA) submission in the first half of 2011.
"These trials also illustrate the broader potential opportunity for Brentuximab vedotin in CD30-positive hematologic malignancies, which we are pursuing through our ongoing and planned clinical development activities," Siegall said.
"During the third quarter, we also made significant progress with our pipeline of proprietary antibody-drug conjugates (ADCs), including SGN-75 and ASG-5ME, and received multiple upfront and milestone payments under our ADC collaborations."