Seattle Genetics Inc. Q2 2009 Earnings Call Transcript

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2009-07-23 18:49:27.0

Tags: J.P. Morgan Chase & Co., Call Transcript, Earnings, Seattle Genetics Inc., Business Structures, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions).

Our first question comes from the line of Cory Kasimov with JPMorgan. Please go ahead.

Mona Ashiya - JPMorgan

Hi, good afternoon. This is actually Mona for Cory. Congratulations on the progress. I had a couple of questions. One is, now that the enrolment with SGN-35 is accelerate -- is going to be complete in 3Q and you will have data in the first half, I’m wondering how this influences your partnering plans for the ex-U.S. opportunity with the data coming earlier than you had expected. Is a partnership something that we can expect maybe after that, or how do you think about this?

Clay Siegall

Mona, thank you. This is Clay. Thank you for the question. First, I want to clarify one point. What we said on the call was that the enrolment indeed you got was correct, the enrolment will be completed in third quarter of this year. But we said that we will provide – the data is expected in the second half of 2010, not the first.

Mona Ashiya - JPMorgan

Okay. Sorry. Yeah.

Clay Siegall

Okay. And as far as partnering, I think that we have previously stated that we are evaluating partnerships, especially looking outside North America and that continues.

Mona Ashiya - JPMorgan

Okay.

Clay Siegall

Eric, perhaps you want to add something to that?

Eric Dobmeier

Sure, yeah. I mean, as we’ve said before, we’ve got discussions ongoing for ex-U.S. deals. There is a lot interest from potential partners and our focus is to build a U.S. based sales and commercial infrastructure in oncology. So an ex-U.S. deal could make a lot of sense for that strategy.

In terms of timing, it’s going to depend on what type of deal we can get. We’re not pressed to do deals sooner than we want to. We’ve got – we’re well capitalized and we’re not giving any set timing on deals. But we are in discussions and if the deal terms are right with a strong partner who can actually help us to execute on getting this drug launched outside the U.S. well and quickly and ramping up well, then that’s something we would certainly consider.

Mona Ashiya - JPMorgan

Okay. Great. And then I just had some additional questions on SGN-35, the additional opportunities here. So on the retreatment study, is it the same dose and schedule that will be tested in these patients?

 

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