why is sesn stock dropping

by Ena Cremin Published 3 years ago Updated 2 years ago

Is Sesn stock a falling rock or a rising rock?

Aug 16, 2021 · SESN. $0.44 (-1.71%) $0.01 *Average returns of all recommendations since inception. Cost basis and return based on previous market day close. ... Why Sesen Bio Stock Bounced Back Sharply Today.

What's happening with Sesen bio stock?

Aug 16, 2021 · SESN is falling after missing FDA approval. Sesen Bio (NASDAQ: SESN) stock is taking a beating on Monday following a letter from the U.S. Food and Drug Administration (FDA). The letter from the ...

Is Sesn stock a trader’s Paradise?

May 06, 2022 · Real-time trade and investing ideas on Sesen Bio Inc. SESN from the largest community of traders and investors.

What does FDA’s letter from FDA say about Sesn stock?

Aug 13, 2021 · Shares of Sesen Bio Inc. SESN, +29.97% was rocked for a more than 75.4% loss on massive volume in afternoon trading Friday, after the company focused on cancer treatments shocked investors by ...

Is SESN a good stock to buy now?

The financial health and growth prospects of SESN, demonstrate its potential to underperform the market. It currently has a Growth Score of F. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of B.

Will SESN go up?

Sesen Bio Inc (NASDAQ:SESN)

The 2 analysts offering 12-month price forecasts for Sesen Bio Inc have a median target of 1.85, with a high estimate of 3.00 and a low estimate of 0.70. The median estimate represents a +242.78% increase from the last price of 0.54.

Should I hold SESN stock?

Is SESEN BIO Stock a good buy in 2022, according to Wall Street analysts? The consensus among 1 Wall Street analyst covering (NASDAQ: SESN) stock is to Hold SESN stock.

Will SESN get FDA approval?

After completing its BLA in December 18, 2021 (in the US) Sesen expected the FDA to accept it by Q1 2021. It was later to be approved by August 18, 2021 that would make the product available by Q4 2021.Nov 16, 2021

Who owns SESN?

Top 10 Owners of Sesen Bio Inc

Stockholder	Stake	Shares owned
BlackRock Fund Advisors	6.27%	12,501,509
The Vanguard Group, Inc.	5.99%	11,951,290
Geode Capital Management LLC	2.26%	4,511,761
SSgA Funds Management, Inc.	2.15%	4,286,758

6 more rows

Will CEI stock go up?

Based on the algorithm-based CEI price prediction from Wallet Investor as of 22 March, the price of Camber Energy in the near term could rise to $1.14 per share by 4 April 2022.Mar 22, 2022

Why did Sesen Bio drop today?

Why Sesen Bio Stock Got Slammed Today. The biotech, which concentrates on developing treatments for cancer, saw its share price dive by nearly 18% on the day. In August, the company's Biologics License Application (BLA) was rejected by the Food and Drug Administration (FDA).

What does Sesen Bio do?

At Sesen Bio, we are committed to saving and improving the lives of patients with cancer. We are a late-stage clinical company advancing targeted fusion protein therapeutics for the treatment of patients with cancer.

What is Vicinium?

Vicinium™, also known as VB4-845, is an antibody-drug conjugate (ADC), developed for the treatment of high-grade non-muscle invasive bladder cancer (NMIBC).Oct 4, 2019

Did sesen bio get FDA approval?

On August 13, 2021, the FDA issued a Complete Response Letter (CRL) to Sesen over the BLA for Vicineum. The agency indicated it couldn't approve the BLA in its present form.Oct 28, 2021

What is Vicineum?

Vicineum is a targeted fusion protein designed to overcome the fundamental efficacy and safety challenges inherent in existing antibody-drug conjugates. bringing new hope for treating bladder cancer.

Referenced Symbols

More On MarketWatch

Shares of Sesen Bio Inc. SESN, -1.96% was rocked for a more than 75.4% loss on massive volume in afternoon trading Friday, after the company focused on cancer treatments shocked investors by saying it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration.

About the Author

Barron's: Tinder Owner Match Will Join the S&P 500. The Stock Is Soaring.

SESN Stock at a Glance

Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

An Unanticipated Rejection

For much of the past 12 months, SESN stock stubbornly clung to the $4 area. Due to the sideways price action of the stock, there wasn’t much chatter about Sesen Bio on financial message boards.

Bad News, and a Glimmer of Hope

In just about any area of life, rejection is hard to take. And financially speaking, when a biotechnology company gets a rejection from a major regulatory agency, it can be absolutely brutal.

The Takeaway on SESN Stock

Just a few days prior to the target PDUFA date, Sesen received a Complete Response Letter from the FDA concerning the BLA for Vicineum.

Expansion of Executive Leadership Team

This is only a rejection of Vicineum in its present form. There’s a possibility that the treatment could be modified to meet the FDA’s requirements.

SESN Second Quarter 2021 Financial Results

Sesen, on 11th August 2021, declared the enlargement of its executive leadership team because of its continued transformation into a commercial-stage firm with the hiring of John Knighton. He was hired as Vice President and Chief Compliance Officer, effective from 16th August 2021.

Partnership with Eczacibasi Pharmaceuticals Marketing

On 9th August 2021, SESN announced operating results for Q2 ended on 30th June 2021. Net loss for the second quarter of 2021 was $25.4 million or $0.15 per share. Net loss reported in Q2 2020 was $26.3 million or $0.24 per share.

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