Seattle Genetics Posts Loss

(RTTNews) - Seattle Genetics Inc. (SGEN) Thursday reported first-quarter net loss of $16.3 million or $0.13 per share compared with a loss of $16.26 million or $0.14 per share last year. Loss-per-share results for the recent quarter reflects a higher share count.

Analysts polled by Thomson Reuters estimated a loss of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

The company said results for the recent quarter included non-cash, share-based compensation cost of $9.3 million, compared with $6.6 million a year ago.

Revenues for the quarter were higher at $68.3 million compared with $57.3 million in the prior year. Analysts estimated revenues of $64.6 million.

Expenses for the quarter were up at $84.6 million compared with $73.7 million last year, due to higher research costs.