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Sesen Bio Inc

Sesen Bio Inc (SESN)

0.6288
0.00
(0.00%)
Closed May 26 4:00PM
0.00
0.00
(0.00%)

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Key stats and details

Current Price
0.6288
Bid
0.6005
Ask
0.629
Volume
-
0.00 Day's Range 0.00
0.00 52 Week Range 0.00
Previous Close
0.6288
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
-
Financial Volume
-
VWAP
-

SESN Latest News

Carisma Therapeutics Reports Second Quarter 2023 Financial Results and Recent Business Highlights

Carisma Therapeutics Reports Second Quarter 2023 Financial Results and Recent Business Highlights PR Newswire PHILADELPHIA, Aug. 10, 2023 Dosed first patient in Phase 1 clinical trial of CT-0508...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40000000CS
120000000CS
260000000CS
520000000CS
156-58.7712-98.941414141459.4120.87.3672829329.16660774CS
260-39.9712-98.451231527140.6120.87.3454062131.57762763CS

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SESN Discussion

View Posts
govprs govprs 12 months ago
https://seekingalpha.com/news/3976183-carisma-stock-spikes-jefferies-issues-buy-lead-asset
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govprs govprs 1 year ago
Anybody get there special dividend?
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joe_techi joe_techi 1 year ago
No CARM board?

https://www.fiercebiotech.com/biotech/carisma-saving-throw-helps-rescue-sesen-deal-sealing-fresh-cash-fund-cell-therapy-pipeline
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joe_techi joe_techi 1 year ago
I voted no. Considering the special dividend and after the RS I am at an 87% loss. Add it to the "crap decision" column of my portfolio
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SmellMyFinger SmellMyFinger 1 year ago
Yep, they usually are. Listing requirements demand them.
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Oxonius Oxonius 1 year ago
We have been totally hosed
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govprs govprs 1 year ago
Wow. RS is a killer
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mrplmer mrplmer 1 year ago
1/3
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OrizG OrizG 1 year ago
Does anybody knows what would be the value of SESN after it changes its name to CARM?

If you had, let's say 10,000 shares how many shares of CARM will you get?
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InvestorPhilia4 InvestorPhilia4 1 year ago
While disappointed by the miss on Sesen's ability to execute an independent commercial launch of vicineum for bladder cancer, based on the facts and the financial market conditions last year, I think the transaction provides the best value for me and a good shot on goal with Carisma validated with the cash of the other pharma/investor players they attracted.
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mrplmer mrplmer 1 year ago
I want short term value. CEO really flubbed this. He needs time behind bars.
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govprs govprs 1 year ago
Anyone here have thoughts on voting for or against the merger with carisma? I’ve read both povs and not clear in my mind which is best. The group against the merger is definitely looking to unlock more value short term
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nsomniyak nsomniyak 1 year ago
Ouch!
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govprs govprs 1 year ago
https://www.businesswire.com/news/home/20230125005304/en/Investor-Group-Issues-Letter-to-the-Boards-of-Sesen-Bio-and-Carisma-Rejecting-Their-Apparent-Attempt-to-Purchase-Merger-Support
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govprs govprs 1 year ago
https://www.businesswire.com/news/home/20230105005420/en/Investor-Group-Issues-Letter-to-Sesen-Bio%E2%80%99s-Board-of-Directors-Regarding-Intent-to-Vote-AGAINST-Proposed-Carisma-Merger
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govprs govprs 1 year ago
https://www.businesswire.com/news/home/20230103005207/en/Investor-Group-Reiterates-Intent-to-Vote-AGAINST-Sesen-Bio%E2%80%99s-Value-Destructive-Merger-with-Carisma
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InvestorPhilia4 InvestorPhilia4 1 year ago
The merger provides, as now constituted:

$0.34 per share cash dividend ($70 million 1H2023)

$0.14 per share CVR for Roche $30M milestone (binary cash payment - accrues paid upon Roche’s initiation of a Phase 3 clinical trial with legacy IL-6 antagonist antibody if initiated prior to December 31, 2026)

$?.?? cash if Vicineum is sold/licensed - added to the CVR - the best way we can participate in capturing any value based on the uncertainty/board's unwillingness to fund another Phase 3

$0.40 ~ stock in Carisma which has a bunch of cash on-hand (partially from our remaining $75 million) and liquidity as a public company - alongside investors Abbvie, TPG Biotech, Moderna, Wellington - and a stake in their promising IP
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MD3 MD3 2 years ago
RS through a merger. They're going to plow through the RS as a good thing through their "strategic" merger.
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govprs govprs 2 years ago
I like the trading action. Something Maybe brewing
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mrplmer mrplmer 2 years ago
If they license or sell Vincineum rights SHs will win.
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MD3 MD3 2 years ago
They're basically getting their RS through the merger and shafting SH. This is how they'll regain compliance as they know this time around SP isn't going backnover a $1 on it's own
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mrplmer mrplmer 2 years ago
Vincineum held out of the merger. Still looking to sell Vincineum or Mighty Strong partner, We have till 1/1/23
👍️ 1
OrizG OrizG 2 years ago
What's going to happen with SESN shareholders after the merge?
Will the new ticker CARM carry the existing SESN shares?
Will the SESN ticker be delisted?
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mrplmer mrplmer 2 years ago
Vincineum for Bladder Cancer is for sale NOW. We need Quilu to get a great phase 3.
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Bill_ENG Bill_ENG 2 years ago
It's very possible he wants to sell it. After all, he gave himself and his minions tons of incentive grants. All at above the current price of SESN.

Do you think he would take a hit for the company to be in a better place in possibly 5 years ?


Nah, he's gonna want to get paid sooner.

Jmo
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mrplmer mrplmer 2 years ago
I think Cannell want to sell Vini for $10 pps for bladder and head and neck.
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MD3 MD3 2 years ago
Tommy probably feels he can't dangle the Vici carrot any more and is trying to find a new drug to dangle in front of investors
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mrplmer mrplmer 2 years ago
Read about merger. Vincineum on back burner.
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OmahaInvestor OmahaInvestor 2 years ago
What is the deal? Sorry I do not know.
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mrplmer mrplmer 2 years ago
Tommh is a real POS. This deal sucks.
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govprs govprs 2 years ago
Sure looks that way
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MD3 MD3 2 years ago
Not the news folks wanted. Investors wanted an out through a sale. Tommy boy ain't letting his cash cow go that easily though
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govprs govprs 2 years ago
Merger announced
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joe_techi joe_techi 2 years ago
"Sesen Bio SESN... carrying a Zacks Rank #1 (Strong Buy) at present.

Sesen Bio’s loss estimates for 2023 have narrowed from 27 cents per share to 1 cent per share over the past 30 days. Shares of Sesen Bio have declined 19% this year so far.

Earnings of Sesen Bio beat estimates in all the last four quarters, delivering a four-quarter surprise of 89.49%, on average."

https://finance.yahoo.com/news/sanofi-sny-hemophilia-drug-bla-153803082.html
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aquaspin aquaspin 2 years ago
They are close IMO. Even the company has mentioned in the last filing that they hope to have things wrapped up by the end of year. They probably figure there is a potential buyer or partner out there.
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mrplmer mrplmer 2 years ago
Come on Tommy Let's make a deal! It'sa $4B market
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govprs govprs 2 years ago
Then might as well hold on to my shares. Would be a nice move to $12
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mrplmer mrplmer 2 years ago
My guess is Cannell has a deal if Qilu phase 3 data WOULD get approval.the market is worth $12 a share for bladder cancer. If they have any data worth talking about for pancreatic that doubles. That would be a great deal for both parties. Roche, Merck, an AZ will be suitors.
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govprs govprs 2 years ago
Do we think they are coming soon?
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mrplmer mrplmer 2 years ago
Where is QILU results? That might shake it up?
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mrplmer mrplmer 2 years ago
Need intercession by God to get this to market.
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govprs govprs 2 years ago
Nobody cares about the ip divestment.
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govprs govprs 2 years ago
Nice. Was hoping for a buyout but who can argue with this cash infusion from ip that could not be developed organicly
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joe_techi joe_techi 2 years ago
Item 1.01 – Entry into a Material Definitive Agreement.

On July 18, 2022, Sesen Bio, Inc. (the “Company”) announced that it has executed an asset purchase agreement (the “Asset Purchase Agreement”) with F. Hoffmann-La Roche Ltd and Hoffman-La Roche Inc. (“Roche”) pursuant to which Roche purchased all patent rights and know-how related to the monoclonal antibody EBI-031 and all other IL-6 anti-IL antagonist monoclonal antibody technology owned by the Company (collectively, the “Intellectual Property”) for up to $70 million. As a result of the Asset Purchase Agreement, the Company’s previous license agreement with Roche dated June 10, 2016 (the “Roche License Agreement”) was terminated resulting in no further diligence, milestone or royalty payment obligations under the Roche License Agreement. Prior to the termination of the Roche License Agreement, the Company had received $50 million in upfront and milestone payments from Roche.

The Asset Purchase Agreement includes a $40 million payment to Sesen Bio upon execution of the Asset Purchase Agreement, and an additional $30 million payment to Sesen Bio that is conditioned upon Roche’s initiation of a Phase 3 clinical trial with EBI-031 for a defined indication prior to December 31, 2026.

The Company entered into the Roche License Agreement in June 2016 pursuant to which the Company granted Roche an exclusive, worldwide license to develop and commercialize the Licensed Intellectual Property. EBI-031, a humanized monoclonal antibody that potently binds IL-6 and inhibits all known forms of IL-6 cytokine signaling, is currently being developed by Roche for the potential treatment of ocular diseases.

As previously disclosed, Sesen Bio has initiated a process to review potential strategic alternatives with the goal of maximizing shareholder value. The Company believes the Asset Purchase Agreement and the associated proceeds have the potential to enable a favorable strategic transaction by increasing the range and attractiveness of strategic alternatives that the Company is able to consider.

The foregoing description of the terms of the Asset Purchase Agreement is not complete and is qualified in its entirety by reference to the Asset Purchase Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
https://ir.sesenbio.com/node/11681/html
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joe_techi joe_techi 2 years ago
Item 1.01 – Entry into a Material Definitive Agreement.

On July 18, 2022, Sesen Bio, Inc. (the “Company”) announced that it has executed an asset purchase agreement (the “Asset Purchase Agreement”) with F. Hoffmann-La Roche Ltd and Hoffman-La Roche Inc. (“Roche”) pursuant to which Roche purchased all patent rights and know-how related to the monoclonal antibody EBI-031 and all other IL-6 anti-IL antagonist monoclonal antibody technology owned by the Company (collectively, the “Intellectual Property”) for up to $70 million. As a result of the Asset Purchase Agreement, the Company’s previous license agreement with Roche dated June 10, 2016 (the “Roche License Agreement”) was terminated resulting in no further diligence, milestone or royalty payment obligations under the Roche License Agreement. Prior to the termination of the Roche License Agreement, the Company had received $50 million in upfront and milestone payments from Roche.

The Asset Purchase Agreement includes a $40 million payment to Sesen Bio upon execution of the Asset Purchase Agreement, and an additional $30 million payment to Sesen Bio that is conditioned upon Roche’s initiation of a Phase 3 clinical trial with EBI-031 for a defined indication prior to December 31, 2026.

The Company entered into the Roche License Agreement in June 2016 pursuant to which the Company granted Roche an exclusive, worldwide license to develop and commercialize the Licensed Intellectual Property. EBI-031, a humanized monoclonal antibody that potently binds IL-6 and inhibits all known forms of IL-6 cytokine signaling, is currently being developed by Roche for the potential treatment of ocular diseases.

As previously disclosed, Sesen Bio has initiated a process to review potential strategic alternatives with the goal of maximizing shareholder value. The Company believes the Asset Purchase Agreement and the associated proceeds have the potential to enable a favorable strategic transaction by increasing the range and attractiveness of strategic alternatives that the Company is able to consider.

The foregoing description of the terms of the Asset Purchase Agreement is not complete and is qualified in its entirety by reference to the Asset Purchase Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
https://ir.sesenbio.com/node/11681/html
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govprs govprs 2 years ago
Rumors of Roach buyout circulating
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InvestorPhilia4 InvestorPhilia4 2 years ago
Punchline: There is about $1.00 per share of cash after the Roche APA, plus up to ~ $0.15 per share of future payments from Roche vs. stock price < $0.62 WITHOUT CONSIDERING THE VALUE OF VICINEUM.

Two SESN 8-Ks today contained this key information:

1a. They disclosed clarifying information regarding discussions with FDA. Now they can disclose these items to potential partners and let them select a path forward.
1b. They are suspending development. If there is a timely partnering/sale event, the new partner/owner can decide the path forward. There could be a reduction in workforce and related cost, but the two 8-Ks might be part of clarifying the field for final bids on the company.
1c. “As of June 30, 2022, the Company had $161.2 million in cash and cash equivalents, no outstanding debt and fewer than 0.2 million outstanding warrants.”

2a. They announced the APA for the legacy drug EBI-031.
2b. “The Asset Purchase Agreement includes a $40 million payment to Sesen Bio upon execution of the Asset Purchase Agreement, and an additional $30 million payment to Sesen Bio that is conditioned upon Roche’s initiation of a Phase 3 clinical trial with EBI-031 for a defined indication prior to December 31, 2026.”

VALUE:
a. So there was cash of $161.2 million plus $40 million, or cash (before July cash burn) of ~ $201.2 million or about $1.00 per share.
b. There is the potential for an additional $30 million payment from Roche (up to $0.15 per share by 2026).
c. Vicineum Out-licenses & market opportunities:

i. Qilu license for China, Hong Kong, Macau and Taiwan (“Greater China”) $20 million in tech transfer and regulatory payments still available + 12% royalties ($0.10 per share plus royalties still available) - upfront payment of $12 million (previously received) and is eligible to receive up to an additional $23 million in technology transfer and regulatory milestone payments (of which ~$3 million was received). Upon commercialization in Greater China, Sesen is also entitled to receive royalties on net sales in Greater China.

The Investigational New Drug application for Vicineum submitted by Qilu to the Center for Drug Evaluation of the NMPA was accepted for review in January 2021 and approved in March 2021, resulting in a $3 million milestone payment from Qilu, the first milestone payment out of the $23 million in potential milestone payments. The Company recorded $2.8 million (net of VAT) as license revenue during the three-month period ended March 31, 2021. The Company received the payment in 2021.

In June 2021, the Qilu License Agreement was recognized by Shandong Province, Bureau of Science and Technology as a "Technology Transfer". An agreement that is designated as a Technology Transfer shall be entitled to a tax incentive of VAT recovery. As such, the Company recorded $0.9 million of revenue during the three months ended June 30, 2021 for additional purchase price resulting from Qilu's obligation to pay Sesen an amount equal to its recovery of VAT. The Company will not be subject to VAT on future potential milestone payments from Qilu.

ii. US

iii. Europe

iv. MENA

v. ...EIP Eczacibasi Ilaç Pazarlama A.S., (“EIP”) pursuant to which it granted EIP an exclusive license to register and commercialize Vicineum for the treatment of BCG-unresponsive NMIBC in Turkey and Northern Cyprus (the “EIP License Agreement"). Under the terms of the EIP License Agreement, the Company is entitled to receive an upfront payment of $1.5 million. The Company and EIP have amended the license agreement to defer EIP's payment of the upfront payment to coincide with the potential FDA approval of Vicineum. The Company is eligible to receive additional regulatory and commercial milestone payments of $2.0 million and is also entitled to receive a 30% royalty on net sales in Turkey and Northern Cyprus.

iv. ROW

Offsets to value above:

Options for 15.7 million shares at a weighted avg price of $1.93 for 2021 and prior are out there plus 1.1 million shares granted in 1Q'22 at wtd avg of $0.71.

Payments under in-license agreements: one-time and royalty payments are triggered upon certain development milestones and commercial sales (see the SEC filings).
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govprs govprs 2 years ago
I unloaded a few today also
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janeyH janeyH 2 years ago
dude, i am outta here - dropped this thing like a hot potato at 70b this AM and glad to be out!
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MD3 MD3 2 years ago
Not with Tommy boy at the helms. He knows exactly what to say to string investors along just before the rug pull
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