Sesen's PhI­II blad­der can­cer da­ta send stock south as in­vestors fret over safe­ty

Fol­low­ing a brand­ing makeover just last week, Sesen Bio (which used to go by Eleven Bio­ther­a­peu­tics) has pub­lished three-month da­ta for its blad­der can­cer drug Vicini­um. The re­sults have some in­vestors cau­tious, as the com­pa­ny’s stock — trad­ing un­der the fresh­ly mint­ed tick­er sym­bol $SESN — is down 23% since the an­nounce­ment.

Sesen was lit­tle more than a shell with a bank ac­count a cou­ple years ago af­ter its lead drug failed twice and it com­plet­ed a deal to li­cense out its re­main­ing pro­gram to Roche. But then the en­ti­ty ac­quired Toron­to-based Viven­tia, snag­ging its now lead drug can­di­date Vicini­um, a next-gen an­ti­body-drug con­ju­gate to treat high-grade non-mus­cle in­va­sive blad­der can­cer.

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