Fractious investors not happy with planned Sesen, Carisma tie-up

4 January 2023

A planned merger between US biotech Sesen Bio (Nasdaq: SESN) and privately-held firm Carisma Therapeutics has run into headwinds.

Sesen stock fell by a third after the merger was announced in mid-September, before recovering somewhat, as shareholders pored over the implications for the company.

News that the merger agreement had been amended, announced at the end of 2022, lifted the price of Sesen shares, although they have still not recovered to their pre-September levels.

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