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Seattle Genetics' 1st quarter net loss widens to $16M

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Seattle Genetics Inc. had a net loss of $16.3 million in the first quarter of 2013, which was greater than the $12.3 million loss for the same period in 2012. The company had $344.1 million in cash and cash equivalents at the end of the first quarter. That’s compared to ending the first quarter of 2012 with $308.9 million. Seattle Genetics had $57.3 million in revenues in the first quarter of 2013, an increase from $48.2 million for the same period of 2012. The company’s research and development…

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