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SESN News: Why Biotech Penny Stock Sesen Bio Is Skryocketing Today

Sesen Bio (NASDAQ:SESN) stock is rising higher on Wednesday after revealing plans to meet with the U.S. Food and Drug Administration (FDA).

Image of two scientists in lab coats studying results in a lab representing SESN stock.

Source: Shutterstock

According to an 8-K filing with the U.S. Securities and Exchange Commission (SEC), Sesen Bio is taking part in a CMC Type A Meeting with the FDA on Oct. 29. This will have it going over what needs to happen for Vicineum to get approval in the U.S.

To go along with this, Sesen Bio notes it has also pulled its marketing authorization application (MAA) to the European Medicines Agency (EMA) for Vysyneum. It did this so that it can have FDA approval first before attempting to enter the European market.

Sesen Bio notes that approval in Europe is more likely to happen if its treatment is already approved in the U.S. Vicineum is its treatment for BCG-unresponsive non-muscle invasive bladder cancer.

Sesen Bio stated the following in the SEC filing.

‘As previously disclosed, Sesen Bio intends to use information from its CMC Type A Meeting, which has been scheduled for October 29, 2021, and the Clinical Type A Meeting anticipated to occur later in the fourth quarter to determine the appropriate path forward with regulators.”

SESN stock is seeing heavy trading following the FDA news today. As of this writing, more than 153 million shares of the stock have been traded. That’s a massive surge compared to its daily average trading volume of 21 million shares.

SESN stock was up 32.6% as of Wednesday afternoon.

Investors looking for more stock market news will want to stick around!

InvestorPlace offers up daily coverage of the market for interested traders. A few examples to consider include what’s happening with Peloton (NASDAQ:PTON), Novavax (NASDAQ:NVAX), and crypto stocks today. You can learn all about that at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed


Article printed from InvestorPlace Media, https://investorplace.com/2021/10/sesn-news-why-biotech-penny-stock-sesen-bio-is-skryocketing-today/.

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