Seattle Genetics: Q1 Earnings Snapshot
By AP News
Published - Apr 27, 2023, 08:12 AM ET
Last Updated - Jun 22, 2023, 02:58 AM EDT
BOTHELL, Wash. (AP) — BOTHELL, Wash. (AP) — Seattle Genetics Inc. (SGEN) on Thursday reported a loss of $174.7 million in its first quarter.
On a per-share basis, the Bothell, Washington-based company said it had a loss of 93 cents.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 82 cents per share.
The biotechnology company posted revenue of $519.7 million in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $520.9 million.
