Seattle Genetics Inc., of Bothell, Wash., reported U.S. and Canadian sales of Adcetris (brentuximab vedotin), its antibody-drug conjugate targeting CD30 for lymphoma, totaling $159 million for the second quarter, marking a 30% increase over net sales in the second quarter of 2018 and topping consensus estimates by roughly 7%. Royalty revenues, primarily driven by Adcetris sales outside the U.S. and Canada by partner Takeda Pharmaceutical Ltd., of Osaka, Japan, were $23.3 million, up from $20.6 million for the second quarter of 2018. Seattle Genetics reported total revenues for the second quarter of $218.4 million. The company's net loss was $79.2 million, or 49 cents per diluted share. As of June 30, its cash and investments were $376.1 million. Shares of Seattle Genetics (NASDAQ:SGEN) jumped $11.99, or 19%, to close Wednesday at $75.17.

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