Brief: Sesen Bio Says Restructuring Plan Includes Incremental Reduction In Workforce

Carisma Therapeutics

20/07/2022 14:02

July 20 (Reuters) - Sesen Bio Inc  SESN.O :
    * SESEN BIO INC - CO'S EARLIER ANNOUNCED RESTRUCTURING PLAN
INCLUDES AN INCREMENTAL REDUCTION IN THE COMPANY’S WORKFORCE
    * SESEN BIO - CO CURRENTLY ESTIMATES THAT IT WILL INCUR IN
THE Q3
& Q4 OF 2022 SEVERANCE & OTHER EMPLOYEE-RELATED COSTS OF
APPROXIMATELY $8 MILLION.
    * SESEN BIO -  EXPECTS TO INCUR ONE-TIME CASH COSTS
ASSOCIATED
WITH THE TERMINATION OF CERTAIN CONTRACTS AND OTHER ACTIVITIES
UNDER RESTRUCTURING PLAN

Further company coverage:  SESN.O 

 ((Reuters.Briefs@thomsonreuters.com;))