|Bid||0.7344 x 1100|
|Ask||0.7396 x 1000|
|Day's Range||0.7260 - 0.7498|
|52 Week Range||0.3650 - 6.0400|
|Beta (5Y Monthly)||0.58|
|PE Ratio (TTM)||2.24|
|Earnings Date||Aug 08, 2022 - Aug 12, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.56|
CAMBRIDGE, Mass., August 08, 2022--Sesen Bio (Nasdaq: SESN) today reported operating results for the second quarter ended June 30, 2022. During the quarter, the Company paused clinical development of its lead asset, Vicineum™ for the treatment of non-muscle invasive bladder cancer (NMIBC), and turned its primary focus to the assessment of potential strategic alternatives with the goal of maximizing shareholder value, which it believes will be complete by the end of 2022.
Sesen Bio's (SESN) Q2 performance is likely to reflect cost savings from the company's restructuring plans as the company continues to seek a potential partner for the further development of Vicineum.
Sesen Bio (SESN) decides to pause the development of Vicineum in the United States. It also ended its 2016 licensing agreement with Roche in exchange for an upfront payment of $40 million.