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| Seattle Genetics, Inc. |
| 22215 26th Avenue SE, Suite 3000, Bothell, WA 98021 * (425) 489-4990 |
| Business Description | The company discovers and develops monoclonal antibody, or mAb, based drugs to treat cancer and related diseases. |
| Offering Information Company has | |||
| Trading As | SGEN (NASNTL) | Industry | Pharmaceutical (SIC 2836) |
| Type of Stock Offered | Common Shares | Filing Date | 11/20/2000 |
| Domestic Shares Offered | 7,000,000 | Offer Date | 3/6/2001 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 7,000,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.490 |
| Gross Proceeds | $49,000,000 | Selling | $0.290 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| J.P. Morgan & Co. | Lead Manager | (212) 648-0517 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | 12/31/1999 | 9/30/1999 | 9/30/2000 | |||
| Revenues | - | - | - | 0.000 | 1.000 | 1.000 | 0.083 |
| Income from Oper. | - | - | - | -2.349 | -3.054 | -1.872 | -5.500 |
| Net Income | - | - | - | -2.106 | -2.818 | -1.722 | -4.040 |
| E.P.S | - | - | - | -0.940 | -1.030 | -0.640 | -1.420 |
| Revenue Growth (%) | - | - | - | - | -91.70 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.98 | -1.30 | -2.79 | ||||
| Cash Flow - Inv. | -0.13 | -0.08 | -26.69 | ||||
| Cash Flow - Fin. | 27.60 | 0.12 | 2.14 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/2000 | Financial Ratios | ||||
| Total Assets | 31.54 | Current Assets | 30.74 | Current Ratio | 73.51 |
| Total Liab. | 37.97 | Current Liab. | 0.42 | Debt Ratio | 120.39% |
| Total Equity | -6.43 | Working Cap. | 30.32 | Debt to Equity Ratio | - |
| Cash | 4.03 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund preclinical trials and commercialization activities for product candidates and other general corporate purposes, including capital expenditures and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Venture Law Group |
| Bank's Law Firm | Cahill Gordon & Reindel |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| OVP Venture Partners | 13.10 | |
| Vulcan Ventures, Inc. | 12.50 | |
| Cascade Investments, LLC | 12.50 | |
| Sofinnova Venture Partners | 12.30 | |
| Indosuez Ventures | 10.40 | |
| BAVP, LP | 9.40 | |
| Note: represents ownership of 5% or more prior to the offering. | ||