Welcome to our dedicated page for Seres Therapeutics news (Ticker: MCRB), a resource for investors and traders seeking the latest updates and insights on Seres Therapeutics stock.
Seres Therapeutics, Inc. (Nasdaq: MCRB) is a pioneering clinical-stage biotherapeutic company focused on discovering and developing Ecobiotic™ therapeutic products. These novel drugs aim to treat significant diseases by targeting the underlying biology of the human microbiome. Founded by Flagship VentureLabs, Seres is at the forefront of creating the first therapeutics that induce a shift towards health by enhancing the microbiome's biology.
The company operates primarily in the United States, leveraging its microbiome therapeutics platform to develop Ecobiotic™ microbiome therapeutics. These therapies are designed to restore health by repairing the function of a dysbiotic microbiome, particularly in the colon. Seres' lead product, SER-109, is developed to prevent the recurrence of Clostridium difficile infection (CDI), a severe infection of the colon. Additional product candidates include SER-262, SER-287, and SER-401.
Recently, Seres announced the sale of its VOWST assets to Nestlé Health Science under a non-binding memorandum of understanding. This transaction will provide Seres with capital infusions, including an upfront payment, and is expected to be completed in the next 90 days, subject to shareholder approval and other conditions. VOWST, the first FDA-approved oral microbiome therapy, prevents the recurrence of CDI in adults following antibacterial treatment for recurrent CDI.
Seres plans to use the capital from this transaction to retire its existing debt and strengthen its financial position. The company is also advancing SER-155, evaluated in a Phase 1b study in patients undergoing allogeneic hematopoietic stem cell transplantation. SER-155 has the potential to reduce gastrointestinal and related bloodstream infections, as well as acute graft-versus-host disease.
Seres Therapeutics continues to innovate in microbiome therapeutics, aiming to benefit multiple underserved patient groups, including those with chronic liver disease, cancer neutropenia, and solid organ transplants. The company's approach could protect millions of medically vulnerable patients from life-threatening infections while addressing the global public health issue of antimicrobial resistance (AMR).
Seres Therapeutics (MCRB) reported Q3 2024 results highlighting positive clinical data for SER-155, showing a 77% reduction in bloodstream infections in patients undergoing allo-HSCT compared to placebo. The company completed the VOWST™ sale to Nestlé Health Science for approximately $175M upfront, with additional installment payments of $75M expected in 2025 and potential milestone payments up to $275M. Q3 saw a net loss from continuing operations of $51M, while reporting net income from discontinued operations of $139.8M. With current cash position and projected payments, Seres expects to fund operations into Q4 2025.
Seres Therapeutics (Nasdaq: MCRB) announced it will host a conference call and live audio webcast on November 13, 2024 at 8:30 a.m. ET to discuss third quarter 2024 financial results and provide business updates. Participants can access the call by dialing 800-715-9871 (domestic) or 646-307-1963 (international) with conference ID 5051385. A webcast replay will be available on the company's website for approximately 21 days after the event.
Seres Therapeutics (Nasdaq: MCRB) has completed the sale of its VOWST business to Nestlé Health Science, strengthening its financial position and focusing on developing novel live biotherapeutics for high-risk patient populations. The transaction provides $175M in gross proceeds, with additional future payments expected. This extends Seres' cash runway into Q4 2025.
The company plans to advance SER-155, which showed promising results in reducing bloodstream infections and antibiotic exposure in allogeneic HSCT patients. Seres will also evaluate SER-155 for other at-risk populations and develop SER-147 for chronic liver disease patients.
The deal results in a streamlined organization, reducing headcount from 200 to 100, and retiring all debt. Seres is considering both internal development and partnerships to maximize value creation in multiple target populations.
Lucien Selce and MKT Capital , owning 1.4 million shares of Seres Therapeutics (NASDAQ: MCRB), have issued an open letter to the company's Board of Directors. The letter expresses concern over a media report suggesting Seres rejected a takeover offer from Nestlé for $6.00 - $6.50 per share, instead opting to sell its VOWST business to Nestlé Health Science.
The shareholders are requesting immediate clarification from the Board regarding its engagement with Nestlé, citing potential violation of fiduciary duty if the report is accurate. They highlight that Nestlé's reported offer would have represented a 622% premium to Seres' current stock price. The letter emphasizes the urgency of the matter, as the VOWST sale is set to close on September 30, 2024.
Seres Therapeutics (Nasdaq: MCRB), a leading live biotherapeutics company, announced that its stockholders have approved the previously proposed sale of the Company's VOWST business to Société des Produits Nestlé S.A. The transaction is expected to close on September 30, 2024, subject to customary closing conditions. Seres will file a Current Report on Form 8-K with the SEC detailing the voting results. This development marks a significant step in the company's strategic direction, potentially impacting its future operations and financial position.
Seres Therapeutics, a leading live biotherapeutics company, has announced its participation in the Cantor Global Healthcare Conference. Eric Shaff, the company's President and CEO, will deliver a presentation on September 18, 2024, at 3:05 p.m. ET.
Investors and interested parties can access a video webcast of the presentation through the "Events and Presentations" tab on the "Investors and News" section of Seres' website. The replay will be available approximately one hour after the event and will remain accessible for 21 days.
This participation in a major healthcare conference demonstrates Seres Therapeutics' commitment to engaging with the investment community and sharing updates on their progress in the live biotherapeutics field.
Seres Therapeutics (Nasdaq: MCRB) reports positive results from the Phase 1b placebo-controlled study of SER-155 in patients undergoing allogeneic hematopoietic stem cell transplant (allo-HSCT). The study showed:
- Significant reduction in bacterial bloodstream infections (BSIs) and systemic antibiotic exposure
- Lower incidence of febrile neutropenia compared to placebo
- Generally well-tolerated safety profile with no treatment-related serious adverse events
Seres plans to seek Breakthrough Therapy designation from the FDA and discuss advancing SER-155 development for allo-HSCT. The company also intends to evaluate SER-155 in other high-risk patient populations for serious bacterial infections.
Seres Therapeutics (Nasdaq: MCRB) reported Q2 2024 financial results and provided business updates. Key highlights include:
1. VOWST asset sale to provide $175M cash infusion, less ~$20M in settlement obligations.
2. SER-155 Phase 1b Cohort 2 clinical readout on track for September.
3. Q2 2024 net loss of $32.9M compared to net income of $46.6M in Q2 2023.
4. VOWST Q2 2024 net sales of $14.4M, up 43% from Q1.
5. Cash runway expected into Q4 2025 post-VOWST sale.
The company plans to focus on developing cultivated live biotherapeutics for medically vulnerable populations at risk of serious bacterial infections.
Seres Therapeutics (Nasdaq: MCRB) has signed an agreement to sell its VOWST business to Nestlé Health Science. Upon closing, Seres will receive a $175M cash infusion, including an upfront payment, prepaid milestone, and equity investment. Additional $75M in payments are due in 2025, with potential future milestone payments of up to $275M based on VOWST sales targets.
Seres will fully retire its debt and expects to fund operations into Q4 2025. The company will focus on developing next-generation cultivated live biotherapeutic candidates for medically vulnerable populations. The lead program, SER-155, is on track for Phase 1b data in September. The deal is expected to close within 90 days, subject to shareholder approval.
Seres Therapeutics (Nasdaq: MCRB), a leading live biotherapeutics company, has announced that it will host a conference call and live audio webcast on August 13, 2024, at 8:30 a.m. ET to discuss its second quarter 2024 financial results and provide business updates. Investors and interested parties can access the conference call by dialing 800-715-9871 (domestic) or 646-307-1963 (international) and referencing the conference ID number 4877586. A live webcast will be available in the 'Investors and News' section of the Seres website, with a replay accessible approximately two hours after the event and archived for about 21 days.
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