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Cancer Fighter Sesen Bio Leaps 13% on FDA Decision

Streetwise Reports, Streetwise Reports
0 Comments| May 22, 2019

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Shares of this biotech stock were up significantly at the close of trading on Tuesday, May 21, attributed to the announcement of some good news from the FDA.

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Sesen Bio Inc. (SESN:NASDAQ) announced in a press release early Tuesday morning that the U.S. Food and Drug Administration (FDA) accepted the company's analytical comparability plan to support the biologic license application and commercialization of its lead asset, Vicinium.

Investors welcomed the news, as the NASDAQ-listed, cancer-fighting biotech stock gained 13.14% by the close of trading that day.

Sesen is a late-stage clinical company whose lead program, Vicinium, aims to "effectively kill cancer cells while sparing healthy cells."

Commenting on the news, Seson Bio President and CEO, Dr. Thomas Cannell, said, "This is a very positive outcome and brings us one step closer to regulatory approval of Vicinium, and our ability to help save and improve the lives of patients."

The health care company has a $150 million market cap, and shares closed at $1.98 on May 21, 2019, with a gain of $0.23.


Disclosure:
1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.



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