On 16 Jan 2020, Sesen Bio, Inc. (NASDAQ: SESN) spotted trading -61.54% off 52-week high price. On the other end, the stock has been noted 51.29% away from the low price over the last 52-weeks. The stock changed 1.00% to recent value of $1. The stock transacted 1011205 shares during most recent day however it has an average volume of 1667.58K shares.
Sesen Bio (SESN) recently stated financial results for the third quarter of 2019 and provided an update on regulatory activities related to Vicinium.
Third Quarter 2019 Financial Results
Cash Position: Cash and cash equivalents were $57.9M as of September 30, 2019, contrast to $50.4M as of December 31, 2018.
R&D Expenses: Research and development expenses for the third quarter of 2019 were $6.6M contrast to $3.4M for the same period in 2018. The increase of $3.2M was due primarily to costs related to the ongoing technology transfer process as we scale-up for commercial manufacturing and increased regulatory, internal and external staffing costs, partially offset by reduced expenses related to the Phase 3 VISTA trial.
G&A Expenses: General and administrative expenses for the third quarter of 2019 were $3.2M contrast to $3.8M for the same period in 2018. The decrease was due primarily to lower legal, commercial and internal employee staffing costs, offset by higher professional fees.
Net Loss: Net loss was $13.1M, or $0.13 per share, for the third quarter of 2019, contrast to $14.0M, or $0.18 per share, for the third quarter of 2018. The decrease was due primarily to a lesser non-cash change in the fair value of contingent consideration, offset by the higher research and development expenses described above.
According to the most recent quarter its current ratio was 6.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 1.44% from the mean of 20 days, -7.40% from mean of 50 days SMA and performed -20.56% from mean of 200 days price. Company’s performance for the week was 3.55%, 8.67% for month and YTD performance remained -3.86%.