SESEN Bio - A possible Jump & Run?The market is bleeding, but may be you know this quote:
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria" - Sir John Templeton
So the actual question is, where are we right now? I guess "Euphoria" is actually over and we are on our steady way down to realistic valuations.
Let's talk facts: As of March 31, 2022, $SESN had $169.8 million in cash and cash equivalents, no outstanding debt and fewer than 0.2 million outstanding warrants.
What is in their pipeline?
They are currently developing Vicineum, a locally administered fusion protein, for the treatment of non-muscle invasive bladder cancer (NMIBC).
What happened to the stock price?
A few months ago the FDA had determined that it cannot approve the BLA for Vicineum in its present form and has provided recommendations specific to additional clinical/statistical data and analyses in addition to Chemistry, Manufacturing and Controls (CMC) issues pertaining to a recent pre-approval inspection and product quality. The stock price dropped dramatically and now trades around 0.50$.
What is BLA?
BLA, Biologics License Application, is a request for permission to introduce, or deliver for introduction, a biologic product into interstate commerce (21 CFR 601.2).
What opportunities lie ahead?
Let me tell you, trading bio-tech stocks requires strong guts and control of emotions - I speak from experience. Currently the company is considering two things:
1. Reverse Split, so that they will remain listed on the NASDAQ
2. Selling the company to maximize shareholder value
The development of Vicineum will continue and they seek another meeting with the FDA soon to discuss further steps for BLA approval with an additional Phase 3 testing.
The 2nd option sounds like a good strategy, the balance sheet looks healthy, the product itself seems promising, so that I had to invest a little bit (10% of my account size). As soon as the company had communicated that they consider selling the company, the stock jumped a nice 30% - luckily I had bought it a few days earlier.
Now we can see a little bit of pullback, which seems more like accumulation, rather than distribution. The volume on the declining candles is lower and the strong buy volume after the news actually speaks a different story. You can check my chart for levels (white are monthly and purple are the weekly levels of support and resistance).
Let's see what will happen, but the most important thing is patience, as well as proper risk management.
Stay healthy!
Sesenbio
SESN Price TargetOn 8/17/2021 Canaccord Genuity brokerage Lower Price Target for SESN giving a Buy rating from $7.00 to $3.00.
Sesen Bio (SESN) flagship drug candidate Vicineum, failed to obtain FDA approval, but they will try a second time to get the regulatory go-ahead for the bladder cancer treatment.
buying long term calls could be a strategy for this one. volatility is likely after they announce the second FDA submission.
SESN Sesen Bio Selloff | Buy the dip???SESN received a preapproval for the dug, Vicineum, but not in its present form. and the market overreacted to it. sold at market prices. and the price went down to 0.86usd, its strongest support.
The FDA has determined that it cannot approve the BLA for Vicineum in its present form and has provided recommendations specific to additional clinical/statistical data and analyses in addition to Chemistry, Manufacturing and Controls (CMC) issues pertaining to a recent pre-approval inspection and product quality. (businesswire.com)
And they don`t have only one product in their pipeline.
Sesen Bio focuses on designing, engineering, developing, and commercializing targeted fusion protein therapeutics (TFPTs) for the treatment patients with cancer. The company's lead product candidates include Vicinium, a locally-administered targeted fusion protein that is in Phase III clinical trials for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC); and VB6-845d, a product candidate for use in the treatment of various types of an anti-epithelial cell adhesion molecule (EpCAM)-positive solid tumors. It also develops Vicinium in combination with Durvalumab, which is in Phase I clinical trials for use in the treatment of BCG-unresponsive NMIBC; and Vicinium in combination with AstraZeneca's checkpoint inhibitor for the treatment of squamous cell carcinoma of the head and neck. Sesen Bio, Inc. has an agreement with Leiden University Medical Center to co-develop an imaging agent. (marketbeat.com)
On 8/11/2021 BlackRock Inc. reported 10,657,812 for a total of $49.24M +264.7% increase and an ownership in SESN of 6.150%
On 8/13/2021 Vanguard Group Inc. reported 8,503,982 for a total of $39.29M +18.2% increase and an ownership in SESN 4.339%
My price target is between 2.7 to 3.2usd.
I look forward to read your opinion
SESN Haven't Seen You In A WhileTook the chart all the way back out to 2015 to find some relevant levels and did a quick fib retracement. Aside from the 236 level being a key point of resistance, in 2015, the area around $5.20 presented an interesting area of high traffic. SESN managed to break through this briefly but as you'll see, it was fleeting after putting in the top that I used as the upper anchor. Heading into the end of the week, this area could be important to watch.
" SENS stock is another decent gainer of the day, pushing up by around 8% in afternoon trading. For some context, Senseonics is a producer of medical products that monitor metrics for those with diabetes. Its product line includes several CGM (continuous glucose monitoring) systems such as the Eversense and Eversense XL...These devices utilize a sensor inserted under the skin to track a patient’s glucose levels. It can then send this data to a smartphone which puts it ahead of the existing technology by quite a ways. At the beginning of this week, Senseonics announced its second-quarter 2021 financial results. In the report, the company posted revenue of around $3.3 million and managed to raise more than $50 million in proceeds through an at-the-market offering...In the U.S. and around the world, diabetes is a condition that affects millions. Because of this, Senseonics could have a sizable market opportunity moving forward. For these reasons, SENS stock could be worth keeping an eye on ."
Quote Source & Read more: Best Penny Stocks to Buy Now? 4 to Watch to Avoid Stock Market Crash
SE SE SESN DIT! I'll just say that there are a lot of stocks and cryptos reaching breaking points, and they will most likely all do the same thing. I'm seeing plenty of potential for most everything to break to the downside but the bullish charts look strong so that's what I'm going with. This SESN chart looks really good, but it's at the tipping point as we speak.
SESN to $5 or more by August. I like the stock.On the verge of FDA approval for a new product,
multiple analysts recently adjusting price targets to $6 plus.
In a market full of mania, a stock with good fundamentals may get overhyped especially about something as legitimate as FDA approval.
Who's not talking about SESN and ENZC right now???
If FDA approval falls through both stocks will suffer a lot, so be careful here and watch for the breakout off support lines before going hard.
The trend is your friend unil the end. Look for confirmations of your (or my) predictions, thats what TA is all about.
Hit me with a like, follow this chart, tell me your thoughts and give me a follow.
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Cheers, traders!!
SESEN BIO: Buy opportunity/ emerging Golden Cross.Sesen Bio Inc has turned overbought on the 1D chart (RSI = 86.656, MACD = 0.058, ADX = 57.197) after a strong 10 day bullish sequence that broke above both the 1D MA50 and MA200 periods, but remains a buy opportunity as the MACD remains below the 9-month High. On top of that we have an emerging Golden Cross, while the price seems to be still within the Accumulation Phase.
Our short-term Target is 1.500, while if the Lower Highs trend-line breaks, we will re-buy for a 2.500 Target.
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