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Why Sesen Bio Stock Got Slammed Today

Eric Volkman, The Motley Fool
·2-min read
Why Sesen Bio Stock Got Slammed Today

The biotech, which concentrates on developing treatments for cancer, saw its share price dive by nearly 18% on the day. In August, the company's Biologics License Application (BLA) was rejected by the Food and Drug Administration (FDA). In its press release published just after the meeting, which Sesen Bio characterized as "productive," the company wrote that it now "believes it has greater clarity regarding the requirements for resubmission of the BLA and the trial design."

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