Sesen Bio (SESN) Stock Sharply Jumps 19.67% This Week As It Announces The Expansion Of Its Chemistry

In the middle of 2021, Sesen Bio started to gain momentum and significantly improved its price values. The most recent peak was on August 12 of 2021 when the price peaked at $4.91. After this peak, the stock has gradually declined. Today, the value stands at $0.8756. This is a $0.0482 and 5.82% loss since the previous close. Sesen Bio has added Eun Jang as Senior Director, Analytical Sciences, and Chèrie Kaefring as Director, Clinical Operations to its chemical, manufacturing, and control (CMC) and clinical development teams. The addition of those additional team members demonstrates Sesen Bio’s strong commitment to and ongoing competence in the development of Vicineum for the treatment of BCG-unresponsive non-muscle-invasive bladder cancer.

These hires coincide with Sesen Bio’s preparation for Vicineum’s CMC and clinical type A meetings with the US FDA. Sesen Bio has requested the CMC type A meeting, which is expected to take place towards the end of October, and the clinical blood group conference, which will take place later in the fourth quarter of 2021. In conjunction with these hiring, non-statutory stock options were or will be awarded. A total of up to 122,500 shares of Sesen Bio ordinary shares are available for purchase after the stock options have vested during the ten-year term.

Miriam Bozini

Finance and Business Reporter