Sesen Bio (SESN)

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

NASDAQ

Website

www.sesenbio.com

CEO

Thomas Cannell

Incorporated

Delaware

Location

Massachusetts

Fiscal year end

Dec 31

Sector

Manufacturing > Pharmaceutical Preparation Manufacturing

Industry (SIC)

Pharmaceutical Preparations

Pfizer • Johnson & Johnson • Merck & Co • Allergan • Abbott Laboratories • Teva- Pharmaceutical Industries • Lilly(Eli) & Co • Bristol-Myers Squibb • Viatris • Abbvie ...

Former names

Eleven Biotherapeutics, Inc.

SEC CIK

0001485003

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Viventia Bio Inc. • Viventia Bio USA Inc. • Viventia Biotech (EU) Limited ...

SESN stock data

1M 1Y 5Y

News

From Benzinga Pro

Sesen Bio: Q2 Earnings Insights

8 Aug 22

Sesen Bio (NASDAQ:SESN) reported its Q2 earnings results on Monday, August 8, 2022 at 08:00 AM. Here's what investors need to know about the announcement.

Sesen Bio Q2 EPS $(0.16) Down From $(0.15) YoY

8 Aug 22

Sesen Bio (NASDAQ:SESN) reported quarterly losses of $(0.16) per share. This is a 6.67 percent decrease over losses of $(0.15) per share from the same period last year.

Why Qudian Shares Jumped Over 40%; Here Are 73 Biggest Movers From Yesterday

19 Jul 22

Gainers AMTD Digital Inc. (NYSE: HKD) climbed 71.5% to close at $27.80 on Monday after gaining 108% on Friday. The company priced its IPO at $7 per share.

U.S. Stocks Turn Lower; Crude Oil Settles Back Above This Level

18 Jul 22

12 Health Care Stocks Moving In Monday's Intraday Session

18 Jul 22

Press releases

From Benzinga Pro

Sesen Bio Announces Strategic Decision to Pause Clinical Development of Vicineum™ in the US

18 Jul 22

Company intends to seek a partner for further development of Vicineum Sesen Bio continues to focus on the assessment of potential strategic alternatives

SHAREHOLDER ALERT: Rigrodsky Law, P.A. Is Investigating Sesen Bio, Inc.

18 May 22

Wilmington, Delaware--(Newsfile Corp. - May 18, 2022) - Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Sesen Bio, Inc. (NASDAQ:SESN) on behalf of stockholders.To learn more

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

8 Aug 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart SESN financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
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

Beta Read what these cash burn values mean

Financial data from Sesen Bio earnings reports.

Recent insider trades

SESN insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

SESN institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	85	95	-10.5%
Opened positions	8	18	-55.6%
Closed positions	18	29	-37.9%
Increased positions	16	26	-38.5%
Reduced positions	31	29	+6.9%

13F shares	Current	Prev Q	Change
Total value	38.34M	91.16M	-57.9%
Total shares	46.34M	50.43M	-8.1%
Total puts	764.6K	2.01M	-62.0%
Total calls	649K	976.6K	-33.5%
Total put/call ratio	1.2	2.1	-42.8%

Largest owners	Shares	Value	Change
BLK Blackrock	13.39M	$8.07M	-0.7%
Vanguard	12.69M	$7.65M	+2.7%
STT State Street	4.34M	$2.62M	+1.2%
Geode Capital Management	4.22M	$2.54M	-6.4%
Integrated Assets Ii	1.96M	$8.8M	0.0%
NTRS Northern Trust	1.74M	$1.05M	-3.4%
FMR	683.78K	$412K	NEW
BK Bank Of New York Mellon	642.26K	$387K	+8.3%
Nuveen Asset Management	526.43K	$3.11M	0.0%
Charles Schwab Investment Management	515.68K	$311K	0.0%

Largest transactions	Shares	Bought/sold	Change
FMR	683.78K	+683.78K	NEW
PRU Prudential Financial	11.68K	-674.8K	-98.3%
Citadel Advisors	110.39K	-576.11K	-83.9%
Two Sigma Investments	0	-499.47K	EXIT
Susquehanna International	182.15K	-460.4K	-71.7%
Renaissance Technologies	457.44K	+457.44K	NEW
Jane Street	20.23K	-445.06K	-95.7%
Group One Trading	392.71K	-393.36K	-50.0%
Marshall Wace	0	-379.93K	EXIT
Two Sigma Advisers	0	-353.19K	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Pfizer • AMGEN • Endo Health Solutions • Aura Biosciences • Chemomab Therapeutics • UroGen Pharma • Anchiano Therapeutics

Risks

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

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Avg

New words: abeyance, adhere, analyst, appeal, attempt, average, behalf, broad, Bulletin, calendar, CMSA, consecutive, conserve, consummate, deal, decide, deny, Department, dispose, dissolve, distraction, evolution, face, grace, half, hearing, incremental, judgment, length, light, lose, manner, mediation, mentioned, Nonrefundable, notification, notwithstanding, originally, OTC, panel, paradigm, peak, Pennsylvania, penny, pink, protracted, reclassed, recommend, refrain, regain, registration, restore, satisfy, saving, SESN, session, shortage, split, stringent, symbol, territory, uptake, validly, weighted, wind, winding, wrongdoing

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

From filing 10-Q 2022 Q2

Financial reports

View all