Hey I know you were worried. I read this the other day.
Dr. Thomas Cannell, president and chief executive officer of Sesen Bio ( SESN
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). “We have not requested an increase since going public in 2014, and we believe the requested increase will allow us to execute on our strategy as we transition into a commercial, revenue generating company. We are committed to issue shares to support our strategic initiatives which we believe drive value for stockholders, such as the planned commercialization of Vicineum™ and advancing our promising pipeline.”
Since the proposed increase to the number of authorized shares of common stock will not affect the number of shares outstanding, it will not by itself have a dilutive effect on the Company’s current stockholders. Sesen Bio ( SESN
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) believes this increase will be enough to achieve corporate profitability, and therefore the Company is hopeful this may be the last time it needs to request additional shares.
I really feel this is being done to prepare for the launch of their new drug.
