Seattle Genetics declared in 2015 that they were set to increase their stock offering from $480 million to $552 million. This decision was arrived upon after Seattle Genetics had an exponential interest amount from their investors. The proceeds of interest are to be used to grow the company, develop their drug research further and to promote and research their cancer fighting drug Adcetris.
Seattle Genetics is expected to hire one hundred new employees every year in the next five years or so. By 2020 the biotech company will have hired one thousand three hundred people and will be forced to expand their buildings.
Seattle Genetics is a biotech company. The company specializes in making cancer fighting drugs. The only drug that they mainly make money from is their cancer treatment drug Adcetris. The company is still not profitable. It made a $47.5 million dollar loss out of $77 million dollars. The company’s CEO -Clay Siegall– stated that the interest of the company is not in making a profit. The interest of the company are to expand and to research more cancer treatment drugs and other drugs to further improve the lives of humans.
Clay Siegall chose to be a co-founder, chairman and the CEO of Seattle Genetics because of his belief in the company. He knew the purpose of the company would help to improve the quality of life for many people suffering from cancer and other torturous diseases that require anti-body drugs. In 1998 he went forward with co-founding the company.
Clay Siegall studied genetics at the George Washington University and Zoology at the University of Maryland. In the past he worked for Bristol-Myers Squibb Pharmaceutical Research Institute and the National Cancer Institute. His work at the National Cancer Institute perhaps inspired him to work for a cure or for further cancer treatment methods with the Seattle Genetics company.