Seagen Inc. SGEN delivered a loss of 67 cents per share for the first quarter of 2021, wider than the Zacks Consensus Estimate of a loss of 59 cents. The company reported a loss of 98 cents in the year-ago quarter.Revenues of $332 million rose 41.5% year over year, primarily driven by the strong uptake of Padcev and Tukysa. However, the top line missed the Zacks Consensus Estimate of $341 million.Shares of Seagen were down 1.9% in after-hour trading on Thursday owing to the weaker-than-expected earnings results. In fact, the stock has plunged 20.5% so far this year compared with the industry’s decrease of 0.6%.Quarter in DetailSeagen’s top line mainly comprises product revenues, collaboration and license agreement revenues, and royalties.Adcetris generated net sales of $162.6 million in the United States and Canada, down 1% year over year. The drug is being evaluated in several label expansion studies. A successful development and a potential approval should boost sales in the future.Padcev sales in the first quarter totaled $69.8 million, up 1.2% sequentially.Tukysa’s first-quarter net sales were $70.3 million, up 14.4% sequentially. The drug received the FDA’s approval in mid-April 2020.Collaboration and license agreement revenues were $2.2 million, reflecting a decrease of 85.9% year over year. Royalty revenues of $27.2 million rose from the year-ago quarter’s $20.4 million. The company recorded royalty revenues on the sales of Adcetris from Takeda in the ex-U.S. markets, from collaboration with GlaxoSmithKline GSK for Blenrep and to a lesser extent, including sales of Polivy under its collaboration with Roche RHHBY.Research and development (R&D) expenses of $230.4 million increased 18% year over year, primarily due to a spike in investments in developing late-stage pipeline candidates.Selling, general and administrative (SG&A) expenses shot up 30.7% year over year to $159.8 million, mainly on account of higher costs related to the recent launch of Padcev and Tukysa as well as an uptick in infrastructure costs for international expansion.2021 GuidanceSeagen projects Adcetris’ full-year net sales in the range of $675-$700 million. Padcev full-year net sales are expected in the range of $310-$325 million, while Tukysa sales are anticipated in the band of $300-$315 million.The company expects collaboration and license revenues to be less than $20 million in 2021, while royalty revenues are anticipated within $125-$135 million.Seagen expects SG&A expenses within $650-$725 million. R&D is estimated in the bracket of $900 million to $1 billion.Recent UpdatesIn February 2021, the European Commission (EC) granted marketing authorization to Tukysa in combination with Roche's Herceptin (trastuzumab) and Xeloda (capecitabine). The drug combo is now approved for the treatment of adult patients with HER2-positive locally advanced or metastatic breast cancer and who have received at least two prior anti-HER2 treatment regimens.Meanwhile, in March 2021, the FDA accepted for review both supplemental biologics license applications (sBLA) seeking label expansion for Padcev (enfortumabvedotin-ejfv). With the FDA granting priority review to both the sBLAs, a decision from the regulatory body is expected on Aug 17, 2021.In April 2021, Seagen along with its Danish partner Genmab A/S GMAB, announced that the FDA has accepted and granted priority review to the biologics license application (“BLA”) for investigational antibody drug conjugate, tisotumab vedotin, for the treatment of recurrent or metastatic cervical cancer in patients whose disease progressed on or after chemotherapy. A decision from the regulatory body is expected on Oct 10, 2021.Seagen Inc. Price, Consensus and EPS Surprise Seagen Inc. price-consensus-eps-surprise-chart | Seagen Inc. QuoteZacks RankSeagen currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report GlaxoSmithKline plc (GSK): Free Stock Analysis Report Seagen Inc. (SGEN): Free Stock Analysis Report Genmab AS Sponsored ADR (GMAB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research