Seattle Genetics Reports Second Quarter Earnings

Seattle Genetics recently concluded its second quarter financial results conference call for 2016, which was spearheaded by Peggy Pinkston, the Executive Director of Corporate Communications, and Clay B. Siegall, the Chairman, President and Chief Executive Officer. Dr. Siegall spoke directly about the efforts and progress of Seattle Genetics in developing into a global multi-product oncology company. For the second quarter of 2016, Seattle Genetics reported an impressive $95.4 million in revenue. Contributing to this major achievement is the progress with ADCETRIS and its status in clinical trials programs.

Seattle Genetics (SGEN) Clay B. Siegall on Q2 2016 Results – Earnings Call Transcript

Dr. Siegall has been integral to the progress of Seattle Genetics since he co-founded the company in 1998. He has been the vision behind Seattle Genetics producing a pipeline of antibody-based cancer therapies. ADCETRIS has been one of the more promising and exciting recent developments for Seattle Genetics. It was granted accelerated approval by the U.S. Food and Drug Administration about five years ago and has been exhibiting plenty of positive signs in clinical testing.

While there is no doubt that Dr. Siegall has been the driving force behind the technological advancements at Seattle Genetics, he has also played a vital role in the company’s remarkable fundraising efforts. Under the leadership of Dr. Clay Siegall, Seattle Genetics generated more than $675 million in public and private financing in 2001 during its initial public offering.

Before Dr. Siegall founded Seattle Genetics, he worked at the Bristol-Myers Squibb Pharmaceutical Research Institute for about six years. In addition, Dr. Siegall also held positions at the National Cancer Institute and currently sits on the Board of Directors of Alder BioPharmaceuticals. His wealth of knowledge in all aspects of the biotechnology industry has been essential to the widespread success of Seattle Genetics. Dr. Siegall is extremely unique in that he is well versed in both the business and research ends of the biotechonology industry, which is no small feat. He continues to find ways for Seattle Genetics to be at the cutting edge of the industry.