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Sesen Bio Starts Reviewing Strategic Alternatives; Shares Surge

10:43AM ET 5/03/2022 MT Newswires
Sesen Bio (SESN) said Tuesday it has started reviewing strategic alternatives to maximize shareholder value.

These options may include sale, merger, acquisition, or other business combination. Sesen Bio could also go for one or more strategic partnerships, or license or divest some of its proprietary technologies, the late-stage clinical company said.

As of March 31, the company had $169.8 million in cash and cash equivalents, no outstanding debt, and less than 200,000 outstanding warrants, Sesen Bio said.

Sesen Bio shares rose nearly 22% in recent Tuesday morning trading.

Price: 0.49, Change: +0.09, Percent Change: +23.00