Sesen Bio reports Q4 net loss $7.6M; reiterates support for Carisma merger ahead of shareholder vote

Carisma Therapeutics Inc.

2022-FY EPS reported -$0.10 revenue$9,800,000

Q4 net loss $7.6M ($0.04/shr) vs net income $8.9M in Q4 2021; FY net loss $19.9M ($0.10/shr).
Cash, equivalents and marketable securities $166.9M as of Dec 31, 2022.
Board increased special cash dividend to $75M (~$0.36/shr) under amended merger with Carisma; CVR period extended to Mar 2027.
ISS and Glass Lewis recommend voting 'FOR' all merger proposals at Mar 2, 2023 special meeting.
Nasdaq granted exception from $1.00 bid price requirement to complete merger by Mar 10, 2023 or face delisting.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Carisma Therapeutics Inc. reported financial results for the fourth quarter and full year ended December 31, 2022.

Period: the fourth quarter and full year ended December 31, 2022
Result: reported results

Exact text from the filing

Sesen Bio (Nasdaq: SESN) today reported operating results for the fourth quarter and full year ended December 31, 2022, and provided a business update.

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Carisma Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001485003-23-000089

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