BOTHELL, Wash. (AP) — BOTHELL, Wash. (AP) — Seattle Genetics Inc. (SGEN) on Wednesday reported a loss of $148.2 million in its fourth quarter.
The Bothell, Washington-based company said it had a loss of 80 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $1.02 per share.
The biotechnology company posted revenue of $528.2 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $483 million.
For the year, the company reported a loss of $610.3 million, or $3.30 per share. Revenue was reported as $1.96 billion.
Seattle Genetics expects full-year revenue in the range of $2.14 billion to $2.24 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGEN at https://www.zacks.com/ap/SGEN
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