Seres Therapeutics Shares Rise 15% After Getting FDA Fast-Track Designation for Infection Treatment
10 January 2024 - 12:10AM
Dow Jones News
By Ben Glickman
Shares of Seres Therapeutics rose early Tuesday after the
company said it had received Fast Track Designation from the U.S.
Food and Drug Administration for its therapeutic candidate.
The stock was up 15% to $1.79 in pre-market trading. Shares are
up 62% in the last month, but have fallen 71% in the last year.
The Cambridge, Mass.-based developer of microbiology
therapeutics said SER-155 is a microbiome therapeutic meant to
prevent gastrointestinal-associated bacterial infections and reduce
cases of severe acute graft-versus-host disease in
immunocompromised patients receiving stem-cell transplants.
The company said it is expecting the readout from the second
cohort in a Phase 1b trial of the therapeutic in the third
quarter.
Seres said fourth-quarter sales of VOWST, another microbiome
therapeutic approved by the FDA in April, were about $10.4 million
and reflected a gross-to-net reduction of 11%.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 09, 2024 07:55 ET (12:55 GMT)
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