BOTHELL, Wash.--(BUSINESS WIRE)--July 26, 2005--Seattle Genetics, Inc. (Nasdaq:SGEN) today reported financial results for its second quarter ended June 30, 2005.
Revenues for the second quarter of 2005 were $2.2 million, compared to $1.5 million for the second quarter of 2004. For the first six months of 2005, revenues were $4.8 million, compared to $3.5 million for the same period in 2004. Revenues are primarily driven by fees earned from the company's ongoing antibody-drug conjugate (ADC) technology collaboration and license agreements.
Total operating expenses for the second quarter of 2005 were $11.2 million, compared to $10.9 million for the second quarter of 2004. For the first six months of 2005, total operating expenses were $22.0 million, compared to $20.1 million in the first six months of 2004.
