Sesen Bio, Inc. is a late-stage clinical company advancing targeted fusion protein therapeutics for the treatment of patients with cancer. The Company's lead program, Vicineum™, also known as VB4-845, is currently in the follow-up stage of a Phase 3 registration trial for the treatment of high-risk, BCG-unresponsive non-muscle invasive bladder cancer (NMIBC). In December 2020, the Company completed the BLA submission for Vicineum to the FDA. Sesen Bio retains worldwide rights to Vicineum with the exception of Greater China and the Middle East and North Africa (MENA), for which the Company has partnered with Qilu Pharmaceutical and Hikma Pharmaceuticals, respectively, for commercialization. Vicineum is a locally administered targeted fusion protein composed of an anti-EpCAM antibody fragment tethered to a truncated form of Pseudomonas Exotoxin A for the treatment of high-risk NMIBC.

Company profile
Ticker
SESN
Exchange
Website
CEO
Thomas Cannell
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Eleven Biotherapeutics, Inc.
SEC CIK
Corporate docs
Subsidiaries
Viventia Bio Inc. • Viventia Bio USA Inc. • Viventia Biotech (EU) Limited ...
SESN stock data
News

Sesen Bio: Q2 Earnings Insights
8 Aug 22
Sesen Bio Q2 EPS $(0.16) Down From $(0.15) YoY
8 Aug 22
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19 Jul 22
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18 Jul 22
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18 Jul 22
Investment data
Securities sold
Number of investors
Calendar
8 Aug 22
12 Aug 22
31 Dec 22
Financial summary
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Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 72.12M | 72.12M | 72.12M | 72.12M | 72.12M | 72.12M |
Cash burn (monthly) | 32.56M | 6.58M | 12M | (no burn) | 2.87M | 2.39M |
Cash used (since last report) | 46.76M | 9.45M | 17.23M | n/a | 4.11M | 3.43M |
Cash remaining | 25.36M | 62.67M | 54.89M | n/a | 68.01M | 68.69M |
Runway (months of cash) | 0.8 | 9.5 | 4.6 | n/a | 23.7 | 28.7 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
22 Jun 22 | Bourdow Carrie L. | Common Stock | Grant | Acquire A | No | No | 0 | 40,000 | 0 | 40,000 |
22 Jun 22 | Bourdow Carrie L. | Stock Option Common Stock | Grant | Acquire A | No | No | 0.79 | 65,000 | 51.35K | 65,000 |
22 Jun 22 | Keyes Jason A | Common Stock | Grant | Acquire A | No | No | 0 | 40,000 | 0 | 40,000 |
22 Jun 22 | Keyes Jason A | Stock Option Common Stock | Grant | Acquire A | No | No | 0.79 | 65,000 | 51.35K | 65,000 |
22 Jun 22 | Michael A. S. Jewett | Common Stock | Grant | Acquire A | No | No | 0 | 40,000 | 0 | 40,000 |
22 Jun 22 | Michael A. S. Jewett | Stock Option Common Stock | Grant | Acquire A | No | No | 0.79 | 65,000 | 51.35K | 65,000 |
22 Jun 22 | Peter Honig | Common Stock | Grant | Acquire A | No | No | 0 | 40,000 | 0 | 40,000 |
22 Jun 22 | Peter Honig | Stock Option Common Stock | Grant | Acquire A | No | No | 0.79 | 65,000 | 51.35K | 65,000 |
22 Jun 22 | Jay S. Duker | Common Stock | Grant | Acquire A | No | No | 0 | 40,000 | 0 | 40,000 |
22 Jun 22 | Jay S. Duker | Stock Option Common Stock | Grant | Acquire A | No | No | 0.79 | 65,000 | 51.35K | 65,000 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 85 |
Opened positions | 8 |
Closed positions | 18 |
Increased positions | 16 |
Reduced positions | 31 |
13F shares | Current |
---|---|
Total value | 38.34M |
Total shares | 46.34M |
Total puts | 764.6K |
Total calls | 649K |
Total put/call ratio | 1.2 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 13.39M | $8.07M |
Vanguard | 12.69M | $7.65M |
STT State Street | 4.34M | $2.62M |
Geode Capital Management | 4.22M | $2.54M |
Integrated Assets Ii | 1.96M | $8.8M |
NTRS Northern Trust | 1.74M | $1.05M |
FMR | 683.78K | $412K |
BK Bank Of New York Mellon | 642.26K | $387K |
Nuveen Asset Management | 526.43K | $3.11M |
Charles Schwab Investment Management | 515.68K | $311K |
Financial report summary
?Competition
Pfizer • AMGEN • Endo Health Solutions • Aura Biosciences • Chemomab Therapeutics • UroGen Pharma • Anchiano TherapeuticsRisks
- Our exploration of strategic alternatives may not result in entering into or completing a transaction, and the process of reviewing strategic alternatives or its conclusion could adversely affect our stock price.
- If we do not successfully complete a strategic transaction, our board of directors may decide to pursue a dissolution and liquidation of our company. In such an event, the amount of cash available for distribution to our stockholders will depend heavily on the timing of such liquidation as well as the amount of cash that will need to be reserved for commitments and contingent liabilities.
- If we are unable to regain compliance with the listing requirements of the Nasdaq Capital Market, our common stock may be delisted from the Nasdaq Capital Market which could have a material adverse effect on our business and could make it more difficult for you to sell your shares.
- Our restructuring plans and the associated headcount reductions may not result in anticipated savings, could result in total costs and expenses that are greater than expected and could disrupt our business.
Management Discussion
- Revenue for the year ended December 31, 2021 was $26.5 million, primarily due to the $20 million milestone achieved pursuant to the Roche License Agreement upon initiating a Phase II clinical trial, $5.0 million related to the Qilu License Agreement (achievement of the IND milestone, clinical supply revenue, and license revenue for additional purchase price due to the recovery of VAT), and $1.5 million upfront milestone revenue achieved pursuant to the MENA License Agreement. Revenue for the year ended December 31, 2020 was $11.2 million, which was due to the recognition of revenue pursuant to the Qilu License Agreement.
- Research and development expenses were $25.3 million for the year ended December 31, 2021, compared to $29.2 million for the year ended December 31, 2020. The decrease of $3.9 million was primarily due to lower costs associated with technology transfer and manufacturing ($7.4 million). This was partially offset by increases in employee-related compensation driven by increased headcount as part of the commercial build and the retention program implemented after receipt of the CRL in August 2021 ($2.1 million), regulatory and clinical consulting fees ($1.0 million) and certain other R&D expense, none of which were individually material ($0.5 million). We anticipate that R&D expenses will increase beginning in 2022 due to additional clinical trial activity costs related to our plans to conduct an additional Phase 3 clinical trial for Vicineum.
- General and administrative expenses were $29.4 million for the year ended December 31, 2021, compared to $14.3 million for the year ended December 31, 2020. The increase of $15.1 million was primarily due to increases in employee-related compensation ($5.0 million), legal costs ($4.8 million), and marketing and commercial expenses ($4.1 million) driven by preparation for the commercial launch of Vicineum prior to the issuance of the CRL in August 2021. Additionally, increases in accounting services ($0.4 million), insurance expenses ($0.4 million), IT expenses ($0.3 million) and others ($0.1 million) contributed to the increase.
Content analysis
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H.S. junior Avg
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New words:
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Removed:
acquire, add, analytical, analyzed, antigen, attached, attain, attenuate, Binding, biophysical, biotech, burn, capitalized, characterization, chemically, closely, combat, commence, committed, comparability, comparable, competing, continually, Council, created, cytotoxic, degradation, discover, discovery, disrupted, disruption, economy, enter, establish, establishing, executing, expectation, expend, extend, final, forced, fundamental, fuse, gain, genetically, growth, Harmonisation, highly, Hikma, impacted, implementation, internalization, International, intrinsic, labeling, life, met, microbial, mitigation, monitor, monitoring, outbreak, overcome, pathway, payload, PPQ, prefer, preparing, proactively, produce, produced, profitable, prosecuting, qualification, rapid, release, reliance, relinquish, renew, scientific, serve, size, source, SOW, spread, stability, surface, technological, tumor, validate, valuable, WACC
Financial reports
Current reports
8-K/A
Cost Associated with Exit or Disposal Activities
11 Aug 22
8-K
Results of Operations and Financial Condition
8 Aug 22
8-K
Other Events
27 Jul 22
8-K
Termination of a Material Definitive Agreement
21 Jul 22
8-K
Cost Associated with Exit or Disposal Activities
20 Jul 22
8-K
Entry into a Material Definitive Agreement
18 Jul 22
8-K
Results of Operations and Financial Condition
18 Jul 22
8-K
Other Events
12 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
23 Jun 22
8-K
Other Events
17 Jun 22
Registration and prospectus
S-8
Registration of securities for employees
28 Feb 22
424B5
Prospectus supplement for primary offering
14 Jul 21
424B5
Prospectus supplement for primary offering
1 Jun 21
S-3
Shelf registration
10 May 21
S-8
Registration of securities for employees
10 May 21
S-8
Registration of securities for employees
15 Mar 21
424B5
Prospectus supplement for primary offering
17 Feb 21
424B5
Prospectus supplement for primary offering
30 Oct 20
424B5
Prospectus supplement for primary offering
29 Nov 19
S-8
Registration of securities for employees
14 Nov 19
Proxies
DEFA14A
Additional proxy soliciting materials
17 Jun 22
DEFA14A
Additional proxy soliciting materials
9 May 22
DEFA14A
Additional proxy soliciting materials
28 Apr 22
DEFA14A
Additional proxy soliciting materials
7 Apr 21
DEFA14A
Additional proxy soliciting materials
25 Mar 21
PRE 14A
Preliminary proxy
15 Mar 21
DEF 14A
Definitive proxy
30 Mar 20
Other
CT ORDER
Confidential treatment order
24 Feb 22
EFFECT
Notice of effectiveness
13 May 21
CORRESP
Correspondence with SEC
12 May 21
UPLOAD
Letter from SEC
12 May 21
CT ORDER
Confidential treatment order
13 Aug 19
CT ORDER
Confidential treatment order
18 Mar 19
CT ORDER
Confidential treatment order
5 Dec 18
EFFECT
Notice of effectiveness
7 Jun 18
CORRESP
Correspondence with SEC
5 Jun 18
CORRESP
Correspondence with SEC
14 May 18
Ownership
SC 13G
Sesen Bio / BlackRock ownership change
8 Jul 22
4
Sesen Bio / Jay S. Duker ownership change
24 Jun 22
4
Sesen Bio / Peter Honig ownership change
24 Jun 22
4
Sesen Bio / Michael A. S. Jewett ownership change
24 Jun 22
4
Sesen Bio / Jason A Keyes ownership change
24 Jun 22
4
Sesen Bio / Carrie L. Bourdow ownership change
24 Jun 22
4
Sesen Bio / Elly Ryu ownership change
3 Jun 22
4
Sesen Bio / Mark Sullivan ownership change
23 Feb 22
4
Sesen Bio / Elly Ryu ownership change
23 Feb 22
4
Sesen Bio / Thomas R Cannell ownership change
23 Feb 22
Patents
Utility
IL-6 Antagonist Formulations and Uses Thereof
4 Aug 22
Featured herein are pharmaceutical compositions and formulations containing an interleukin-6 (IL-6) antagonist, e.g., an IL-6 antibody molecule, designed for administration for a subject.
Utility
IL-6 Antibodies
2 Jun 22
Improved IL-6 antibodies are provided.
Utility
IL-6 antibodies
12 Oct 21
Improved IL-6 antibodies are provided.
Utility
IL-6 antibodies
16 Mar 21
Improved IL-6 antibodies are provided.
Transcripts
2021 Q1
Earnings call transcript
10 May 21
2020 Q3
Earnings call transcript
9 Nov 20
2020 Q3
Earnings call transcript
9 Nov 20
2020 Q1
Earnings call transcript
11 May 20
2019 Q4
Earnings call transcript
16 Mar 20
2019 Q3
Earnings call transcript
12 Nov 19
2019 Q1
Earnings call transcript
13 May 19
2018 Q4
Earnings call transcript
4 Mar 19
2017 Q3
Earnings call transcript
14 Nov 17
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