Fourth Quarter & Full Year 2022 Financial & Business Update
Expenses Reflect Investment in Pipeline and Commercial Expansion
In millions
4Q21
3Q22
4Q22
FY21
FY22
Cost of sales
$87
$108
$108
$312
$410
Cost of sales increase reflects higher product sales and profit
share and includes royalties as well as non-cash amortization
R&D expenses
$304
$385
$358
$1,229
$1,344
SG&A expenses
$211
$210
$216
$716
$821
Total costs &
expenses
$602
$703
$682
$2,256
$2,575
Other income (loss) 1
($3)
$2
$6
$8
$3
Net income (loss)
$175
($191)
($148)
($674)
($610)
•
R&D expenses reflect continued investment to expand the
potential of our approved products and to advance our pipeline
programs
SG&A expenses driven by ongoing commercialization efforts and
other corporate activities to support our growing business
Seagen
1 Includes Investment and other income (loss) and income taxes; Amounts may not total due to rounding
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