Seagen reported second quarter revenue of $498 million, up 28%, beating analyst expectations. The company also recently reported “positive” early data from a trial testing its drug Padcev in combination with Merck’s Keytruda for advanced urothelial cancer. In a call Thursday with investors, Seagen executives declined to answer questions about a reported upcoming sale to Merck; Merck also stayed silent about Seagen in its earnings call the same day. Seagen’s R&D expenses for the quarter were $304.3 million and net loss was $134.8 million. As of June 30, Seagen had about $1.9 billion in cash and investments.
News Brief
