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Western Asset High Yield Defined Opportunity Fund Inc. (HYI)

NYSE - Nasdaq Real Time Price. Currency in USD
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15.90-0.03 (-0.19%)
As of 3:46PM EDT. Market open.
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  • B
    Blair
    See below:

    During the relevant period, defendants expressed its "significant commercial progress" and ramped up operations in anticipation that Vicineum would be granted FDA approval. However, defendants failed to disclose to investors that: (1) Sesen Bio’s clinical trial for Vicineum had more than 2,000 violations of trial protocol; (2) three of Sesen Bio’s clinical investigators were found guilty of “serious noncompliance,” including “back-dating data”; (3) Sesen Bio had submitted the tainted data in connection with the BLA for Vicineum; (4) Sesen Bio’s clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; (5) as a result of the foregoing, the Company’s BLA for Vicineum was not likely to be approved; and (6) consequently, there was a reasonable likelihood that Sesen Bio would be required to conduct additional trials to support the efficacy and safety of Vicineum.

    On August 13, 2021, the Company announced that the FDA declined to approve its BLA for Vicineum in its current form. On this news, the Company's share price fell $2.80, or 57%, to close at $2.11 per share on August 13, 2021.

    On August 16, 2021, the Company further revealed that "it appears that [the Company] will need to do a clinical trial to provide the additional efficacy and safety data necessary for the FDA to assess the benefit-risk profile, which is the basis for approval." As a result, the Company expected that it could not resubmit its BLA until 2023. On this news, the stock fell $0.89, or 42%, to close at $1.22 per share on August 16, 2021.

    Then, on August 18, 2021, the health and medicine news site STAT published an article detailing that the clinical trial for Vacineum was "marked by thousands of violations of study rules, damning investigator conduct, and worrying signs of toxicity the company did not publicly disclose." On this news, the Company's share price fell another 13%, to close at $1.31 per share on August 18, 2021.
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    Yahoo Finance Insights
    HYI is down -100.00% to 0.00
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    Yahoo Finance Insights
    HYI reached a 52 Week high at 16.44
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    Yahoo Finance Insights
    HYI reached a 52 Week low at 13.72
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    Yahoo Finance Insights
    HYI reached a 52 Week low at 14.10
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    Yahoo Finance Insights
    HYI reached a 52 Week low at 14.10
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    Yahoo Finance Insights
    HYI reached a 52 Week low at 12.93
  • Y
    Yahoo Finance Insights
    HYI reached a 52 Week low at 12.93
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    Yahoo Finance Insights
    HYI reached a 52 Week low at 13.72
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    Yahoo Finance Insights
    HYI reached an all time low at 12.27
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    Yahoo Finance Insights
    HYI reached an all time low at 10.64
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    Yahoo Finance Insights
    HYI reached an all time low at 12.27
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    Yahoo Finance Insights
    HYI reached an all time low at 11.98
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    Yahoo Finance Insights
    HYI reached an all time low at 11.98
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    Yahoo Finance Insights
    HYI is down 13.21% to 11.09
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    Yahoo Finance Insights
    HYI is down 13.21% to 11.09
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    Yahoo Finance Insights
    HYI is down 4.92% to 10.44
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    Yahoo Finance Insights
    HYI is down 5.35% to 11.67
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    Yahoo Finance Insights
    HYI is down 7.02% to 12.78
  • Y
    Yahoo Finance Insights
    HYI is down 7.02% to 12.78
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