Sesen Bio, Inc. (SESN) Bundle
A Brief History of Sesen Bio, Inc. (SESN)
Founding and Early Development
Founding and Early Development
Sesen Bio, Inc. was established in 2008, originating from a collaboration between leading scientists in the field of immunotherapy and oncologists. The company was focused on developing targeted therapies for cancer, specifically leveraging its proprietary platform which utilizes the body's own immune system to fight tumors.
IPO and Initial Public Offerings
In 2018, Sesen Bio went public, raising approximately $80 million through its initial public offering (IPO). This financial boost was aimed at supporting the development of its lead candidate, Vicinium.
Lead Product Candidate - Vicinium
Vicinium is a fusion protein that targets the treatment of bladder cancer. In 2020, the company announced positive results from a Phase 3 trial, with a reported overall response rate of 40% among patients with non-muscle invasive bladder cancer (NMIBC).
Financial Performance
As of the end of Q2 2023, Sesen Bio reported total assets worth approximately $60.5 million and a cash position of roughly $15 million. The company had total liabilities of around $22 million.
Partnerships and Collaborations
- In 2019, Sesen Bio entered into a collaboration with the University of Chicago Medicine, focusing on advancing the Vicinium development strategies.
- In early 2021, the company partnered with the National Cancer Institute to conduct trials exploring combination therapies for cancer treatment.
Regulatory Milestones
In July 2021, Sesen Bio received a Complete Response Letter (CRL) from the FDA regarding its BLA for Vicinium, prompting the company to address the concerns outlined by the agency.
Recent Developments and Future Outlook
As of October 2023, Sesen Bio continues its engagement with the FDA to resolve outstanding issues relating to Vicinium's approval, while also exploring potential strategic avenues for collaboration to enhance its research capabilities.
| Financial Metric | Value (2023) |
|---|---|
| Total Assets | $60.5 Million |
| Cash Position | $15 Million |
| Total Liabilities | $22 Million |
| IPO Amount (2018) | $80 Million |
| Vicinium Overall Response Rate | 40% |
A Who Owns Sesen Bio, Inc. (SESN)
Overview of Ownership Structure
Overview of Ownership Structure
Sesen Bio, Inc. (SESN) operates as a biotechnology company focused on developing and commercializing targeted protein therapeutics for the treatment of cancer. The ownership of the company can be detailed through public filings and shareholder information.
Major Shareholders
The following table outlines the major shareholders of Sesen Bio, Inc. as of the latest available data:
| Shareholder Name | Ownership Percentage (%) | Number of Shares Owned | Type of Ownership |
|---|---|---|---|
| BlackRock, Inc. | 8.10% | 5,589,815 | Institutional |
| Vanguard Group, Inc. | 6.94% | 4,826,545 | Institutional |
| Wellington Management Group LLP | 5.78% | 3,899,927 | Institutional |
| RA Capital Management, LLC | 4.56% | 3,100,000 | Institutional |
| Other Institutional Investors | 20.00% | 13,500,000 | Institutional |
| Retail Investors | 54.62% | 37,000,000 | Individual |
Executive Ownership
The executive leadership team also holds significant stock ownership in Sesen Bio, Inc. The following table provides details on their holdings:
| Name | Position | Number of Shares Owned | Ownership Percentage (%) |
|---|---|---|---|
| Dr. Thomas R. Dubensky | Chief Executive Officer | 500,000 | 0.73% |
| Dr. John W. P. H. Yang | Chief Medical Officer | 300,000 | 0.44% |
| Mr. David M. H. B. Hutton | Chief Financial Officer | 150,000 | 0.22% |
Recent Stock Performance
As of October 2023, the financial performance of Sesen Bio, Inc. shows fluctuations in stock prices. The following table summarizes the recent stock performance:
| Date | Closing Price (USD) | Market Capitalization (USD) | Volume |
|---|---|---|---|
| October 10, 2023 | 0.90 | 60 million | 1,250,000 |
| October 3, 2023 | 1.00 | 70 million | 2,000,000 |
| September 26, 2023 | 0.85 | 55 million | 1,500,000 |
Conclusion
Ownership of Sesen Bio, Inc. is characterized by a mixture of institutional and retail investors, with executives having direct stakes in the company. The financial standing, demonstrated through stock performance, reflects investor sentiment and market conditions.
Sesen Bio, Inc. (SESN) Mission Statement
Company Overview
Company Overview
Sesen Bio, Inc. (SESN) focuses on developing targeted protein therapeutics for treating cancer. The company aims to bring innovative therapies to patients who may not have effective treatment options available to them.
Mission Statement
The mission of Sesen Bio is to deliver innovative, life-changing therapies for cancer patients, utilizing their proprietary platform to develop therapies with a focus on precision and patient needs.
Core Values
- Integrity: Upholding ethical standards in all actions.
- Innovation: Commitment to research and development for advanced treatments.
- Collaboration: Working together with stakeholders for improved outcomes.
- Patient-Centricity: Focusing on the needs and experiences of patients.
Financial Overview
As of October 2023, Sesen Bio reported the following financial metrics:
| Metric | Amount |
|---|---|
| Market Cap | $60 million |
| Total Assets | $20 million |
| Total Liabilities | $10 million |
| Cash and Cash Equivalents | $5 million |
| Annual Revenue (2022) | $1 million |
| Net Loss (2022) | -$15 million |
| Shareholder's Equity | $10 million |
Key Products
The primary product under development is:
- Vicinium: An investigational therapy for bladder cancer.
Recent Developments
As of October 2023, Sesen Bio has made the following notable advancements:
- Completed Phase 3 clinical trial for Vicinium.
- Filed for regulatory approval with the FDA.
- Initiated discussions for potential partnerships to enhance product development.
Strategic Goals
Sesen Bio's strategic goals include:
- Achieving FDA approval for Vicinium.
- Expanding the pipeline with additional cancer therapies.
- Enhancing market presence and patient outreach initiatives.
Conclusion
Sesen Bio remains committed to its mission by focusing on innovation and patient needs in the realm of cancer therapeutics.
How Sesen Bio, Inc. (SESN) Works
Company Overview
Company Overview
Sesen Bio, Inc. (SESN) is a clinical-stage biotechnology company focused on developing targeted protein therapeutics for the treatment of cancer. The company’s lead product candidate, VB-111, is a fusion protein designed to treat patients with solid tumors.
Business Model
The company's business model is primarily based on conducting clinical trials, partnering with other pharmaceutical companies, and eventually commercializing its drug candidates. Sesen Bio relies on investment funding, research collaborations, and milestone payments from partners.
Financial Overview
As of the end of Q2 2023, Sesen Bio reported a total revenue of $4.2 million, a decrease from $5.5 million in the previous year. Meanwhile, the company’s net loss for the same period was approximately $3.7 million, compared to $9.8 million in 2022.
Key Financial Metrics
| Metric | Q2 2023 | Q2 2022 |
|---|---|---|
| Total Revenue | $4.2 million | $5.5 million |
| Net Loss | ($3.7 million) | ($9.8 million) |
| Cash and Cash Equivalents | $18.4 million | $24.1 million |
| Total Assets | $29.2 million | $35.7 million |
| Total Liabilities | $10.8 million | $11.6 million |
Product Development
Sesen Bio is in the late stages of clinical trials for VB-111, focusing on solid tumors, specifically recurrent glioblastoma multiforme (GBM). The company has conducted several trials, including Phase 3 studies.
Partnerships and Collaborations
The company has established key partnerships with other biotech firms and academic institutions to facilitate research and development. Partnering allows Sesen Bio to share risks and resources, enhancing its clinical trial capabilities.
Market Potential
The market potential for Sesen Bio's therapeutic products is significant. For instance, the glioblastoma therapy market is projected to reach approximately $3.4 billion by 2025, providing a lucrative opportunity for the company.
Stock Performance
As of October 2023, Sesen Bio's stock price was $0.84, with a market capitalization of approximately $150 million. The stock has experienced a substantial decline from its 52-week high of $2.50.
Regulatory Environment
Sesen Bio operates under the oversight of the U.S. Food and Drug Administration (FDA) and must adhere to stringent regulatory requirements for clinical trials and product approvals.
Future Outlook
The company’s future hinges on the successful completion of ongoing clinical trials and securing FDA approval for its lead product. Investors and stakeholders are closely monitoring trial results and regulatory reviews, which are crucial for Sesen Bio's growth trajectory.
How Sesen Bio, Inc. (SESN) Makes Money
Business Model Overview
Sesen Bio, Inc. operates primarily in the biotechnology sector, focusing on the development and commercialization of targeted fusion protein therapeutics for cancer treatment. The company’s revenue generation is primarily derived from the following avenues:
- Licensing Agreements
- Partnerships and Collaborations
- Product Sales
- Grants and Funding
Licensing Agreements
Sesen Bio has entered into several licensing agreements which contribute to its revenue stream. Notably, the company licensed its lead product candidate, Vicinium, to various partners, generating upfront payments and potential milestone payments.
In 2021, a license agreement with the Japanese pharmaceutical company, Azanta A/S, was worth approximately $9 million in upfront payments, with future contingent milestone payments up to an additional $70 million.
Partnerships and Collaborations
Strategic partnerships have been vital for Sesen Bio’s financial stability. Collaborations with larger pharmaceutical companies provide funding and resources for the development of their therapeutic candidates.
As of Q3 2023, Sesen Bio reported collaborations that are projected to yield an estimated $15 million in research and development funding over the next two years.
Product Sales
Revenue from product sales is a critical component of Sesen Bio's business model, particularly post-commercialization of its lead product. The company anticipates revenue from the commercialization of Vicinium, aimed at treating BC (Bladder Cancer).
Projected product sales for fiscal year 2024 are estimated to reach $30 million, contingent upon successful product launch and market penetration rates.
Grants and Funding
Sesen Bio actively seeks grants and government funding to support its research initiatives. In December 2022, the company secured a grant from the NIH worth $10 million to accelerate the development of its therapeutic programs.
Financial Performance
As of the most recent financial statements for Q3 2023, Sesen Bio reported:
| Financial Metrics | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|
| Total Revenue | $5.1 million | $4.2 million | $3.5 million |
| Net Loss | ($12.5 million) | ($11.0 million) | ($10.5 million) |
| Cash and Cash Equivalents | $50.3 million | $48.0 million | $45.0 million |
The increasing revenue trajectory reflects the effectiveness of Sesen Bio's commercialization strategy and the anticipated market uptake of its products.
Future Revenue Projections
Looking ahead, Sesen Bio aims to enhance its revenue streams through:
- Expansion of product portfolio
- Increased efficiencies in clinical trials
- Enhanced market access strategies
Financial analysts project that by 2025, Sesen Bio could generate upwards of $100 million in annual revenue, driven by the anticipated success of Vicinium and potential future product launches.
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