- Sesen Bio ( NASDAQ: SESN ) has received a Nasdaq delisting notice as its share price has fallen below $1.
- The company said that the notice emphasized the need for its planned merger with Carisma Therapeutics. Otherwise, it faces deregistration of its stock and a court-managed dissolution and liquidation.
- Sesen ( SESN ) said that a liquidation "would be time consuming and expensive and would ultimately provide less value to Sesen Bio stockholders ."
- Sesen's ( SESN ) management has been in a battle with activist shareholders who are opposed to the merger .
For further details see:
Sesen Bio receives Nasdaq delisting notice