Seattle Genetics pares Q1 loss, stock slips

Seattle Genetics Inc. reported a first-quarter loss of $12.3 million, or a loss of 11 cents per share, which compares with a loss of $32.7 million, or a loss of 30 cents per share a year earlier. The Bothell biotech (NASDAQ: SGEN) said total revenues rose to $48.2 million from $12.2 million in the first quarter of 2011. The company said gross product sales of its Adcetris Hodgkin's lymphoma cancer drug rose by 12 percent in the latest quarter compared with the fourth quarter of 2011. Analysts polled…