Seagen Inc Q1 Loss increases, but beats estimates

(RTTNews) - Seagen Inc (SGEN) announced Loss for its first quarter that increased from the same period last year but beat the Street estimates.

The company's earnings came in at -$136.49 million, or -$0.74 per share. This compares with -$121.42 million, or -$0.67 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.5% to $426.46 million from $331.98 million last year.

Seagen Inc earnings at a glance (GAAP) :

-Earnings (Q1): -$136.49 Mln. vs. -$121.42 Mln. last year. -EPS (Q1): -$0.74 vs. -$0.67 last year. -Analyst Estimate: -$1.00 -Revenue (Q1): $426.46 Mln vs. $331.98 Mln last year.

-Guidance: Full year revenue guidance: $1,665 - $1,745 Mln