Sesen Bio Inc (SESN)

[Oxonius]

Roughly: 200 million shares and $170 million in cash with no debt

If the IP and prospects for Vicineum are completely without value, then break-up value might be around $0.80 (probably paid back to shareholders as "special dividends" / return of capital)

Assuming that the pipeline potential is good for an acquirer, then "sale" value could be anywhere from $1.50 to $3.00 (or even higher if potential is very good)