NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased or acquired the securities of Sesen Bio, Inc. ("Sesen Bio" or the "Company") (NASDAQ: SESN) from December 21, 2020 through August 17, 2021 (the "Class Period").
All investors who purchased Sesen Bio, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Sesen Bio, Inc., you may, no later than October 18, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Sesen Bio, Inc.
PLEASE CLICK HERE TO JOIN CASE
On August 13, 2021, Sesen Bio announced the FDA declined to approve its Biologics License Application for Vicineum in its current form. On this news, the Company's share price fell $2.80, or 57%, to close at $2.11 per share on August 13, 2021.
On August 16, 2021, Sesen Bio further revealed that "it appears that [the Company] will need to do a clinical trial to provide the additional efficacy and safety data necessary for the FDA to assess the benefit-risk profile, which is the basis for approval." The Company announced it expected it could not resubmit its BLA until 2023. On this news, the Company's share price fell $0.89, or 42%, to close at $1.22 per share on August 16, 2021.
Then, on August 18, 2021, the health and medicine news site STAT published an article entitled "Sesen Bio trial of cancer drug marked by misconduct and worrisome side effects, documents show." The article detailed that the clinical trial for Vicineum was marked by thousands of violations of study rules, damning investigator conduct, and worrying signs of toxicity the company did not publicly disclose. On this news, the Company's share price fell $0.20, or 13%, to close at $1.31 per share on August 18, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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