Sesen Bio Inc (SESN)

[Ryoko]

I don't think a $1 pps is going to happen. It may settle back somewhat. But this is just the first wave. The news simply said they got the green light to file a BLA. They'll be another run when the BLA actually gets submitted (prolly in June). Then there's going to be the wait for approval. The thing is that once the BLA is filed, all the dirty work is essentially done on what could be a very lucrative drug. This fact could attract a buyout at any time. I think the pps is going to reflect that possibility. Even without an offer, there's still the major event of receiving FDA approval which is months away, but not that far. I would expect the pps to slowly creep up in anticipation of that event.