Seattle Genetics' loss widens on R&D costs
US drug developer Seattle Genetics says its fourth-quarter 2008 net loss widened to $30.6 million, or $0.38 per share, from $14.9 million, or $0.22 per share, in the comparable period last year.
The firm's loss deepened, despite a 29.5% rise in revenue to $10.1 million, due to a 71.7% jump in operating costs to $41.9 million.
The consensus prediction derived from a Thomson Reuters poll of eight analysts was a loss of $0.31 per share on revenues of $8.15 per share.
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