Seagen Inc Q1 Loss increases, misses estimates

(RTTNews) - Seagen Inc (SGEN) announced Loss for its first quarter that increased from last year and missed the Street estimates.

The company's earnings came in at -$174.74 million, or -$0.93 per share. This compares with -$136.49 million, or -$0.74 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.9% to $519.72 million from $426.46 million last year.

Seagen Inc earnings at a glance (GAAP) :

-Earnings (Q1): -$174.74 Mln. vs. -$136.49 Mln. last year. -EPS (Q1): -$0.93 vs. -$0.74 last year. -Analyst Estimate: -$0.82 -Revenue (Q1): $519.72 Mln vs. $426.46 Mln last year.