Clay B. Siegal, the CEO of Seattle Genetics, is recently reported to be able to provide the most incredible growth in the company. In 2016, it was able to reach about $418 million of profit growth, which was up for about 46% in its last record in 2014. The stock price since then was able to reach a triple growth from $20/share to as high as $66 per share in the middle of May.
Recent reports even display that the market value of Seattle Genetics under Mr. Siegal is now boasting a $10 billion market value empowered with an employee workforce of around 900 employees. Siegal can do this because of his ambitious vision in building a big pharma company that invests heavily in research and market development. Right now it even expects a growth of 200 employers every year.
Seattle Genetics can provide this growth mainly because of how it was able to produce wonderful drugs to a global market. The oncology-based Seattle Genetics credits this kind of increase to the large wide of ideas implemented by the company in its vision to establish a business rather than just simply selling its assets, as most of the biotech firms do today.
Clay Siegal was also the Board Director of Mirna Therapeutics; a company focused on biotechnology and the commercialized development of MicroRNA . In 1998, Mr. Siegall also co-founded Seattle Genetics and became its CEO and President, as well as its Board of Directors’ Chairman. It is impressive to know that Mr. Siegal was able to build an excellent diverse and myriad pipeline of cancer therapies that are antibodies-dependent, which include the ADCETRIS, also called brentuximab vedotin, a cancer treatment that got approved by the U.S. Food and Drug Administration last 2011.
The great success of Seattle Genetics also comes from the fact that Dr. Siegal was able to implement capital-growth endeavors that were able to provide $675 million financings in both the public and private sector, including the 2011 public offering they did. Dr. Siegal’s experience as the chief officer at Bristol-Myers Squibb Pharmaceutical Research Institute in 1991 also contributed to the skills of Mr. Siegall in making sure that Seattle Genetics can compete in the global market.
Siegal is also a man of letters and was able to author more than 70 publications and holds in his name the authorship of 15 patents. It’s also not surprising to see that he was able to do this, considering that Dr. Siegall got his Ph.D. in Genetics at the George Washington University. The University of Maryland is where he got his Bachelors Science degree in Zoology.
SWball September 2, 2017
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