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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 (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.
On June 5, 2024, Seres Therapeutics (Nasdaq: MCRB) announced the granting of inducement equity awards to a new employee. The Compensation and Talent Committee allocated 6,188 shares, divided into 4,125 stock options and 2,063 restricted stock units (RSUs). These grants are part of the 2022 Employment Inducement Award Plan, adopted in December 2022, aiming to attract new talent under Nasdaq's Listing Rule 5635(c)(4). The stock options have an exercise price of $1.14 per share and vest incrementally over four years. Similarly, the RSUs vest over a four-year period, with the first vesting date one year from the employee's hire date.
Seres Therapeutics announced that Nestlé Health Science will acquire global rights to VOWST, a microbiota-based therapeutic.
This agreement follows a non-binding memorandum of understanding and will give Nestlé full control over the development, commercialization, and manufacturing of VOWST globally.
VOWST, FDA-approved in June 2023, is the first oral microbiota-based treatment to prevent recurrence of Clostridioides difficile infection (CDI) in adults after antibacterial treatment.
The deal requires negotiation of definitive agreements, Seres shareholder approval, and other customary conditions.
Seres Therapeutics announced a memorandum of understanding with Nestlé Health Science to sell its VOWST assets, which include intellectual property rights. The deal is expected to provide Seres with capital infusions and an upfront payment, allowing the company to retire its debt and extend its cash runway into Q4 2025. The transaction, anticipated to complete within 90 days, is subject to shareholder approval and other conditions. Seres will shift focus to advancing SER-155 and other microbiome therapeutics. This agreement builds on a previous license agreement with Nestlé and recent FDA approval for VOWST to treat recurrent CDI. Seres expects this deal to strengthen its balance sheet and enable progress in its therapeutic programs.
Seres Therapeutics, Inc. (Nasdaq: MCRB) reported first quarter 2024 financial results highlighting net sales of $10.1 million for VOWST, accelerating sales growth since launch, and progress in clinical trials. The company aims to expand its product franchise into additional patient populations and secure more capital for pipeline development.
Seres Therapeutics, Inc. announced the grant of equity awards to two new employees under the Inducement Plan. The grants consist of stock options and RSUs, totaling 9,367 shares of common stock. These awards are subject to specific vesting schedules and were granted under Nasdaq Listing Rule 5635(c)(4).
Seres Therapeutics, Inc. (Nasdaq: MCRB) will discuss their first quarter 2024 financial results and provide business updates on May 8, 2024. The conference call and webcast are scheduled for 8:30 a.m. ET. Investors can access the call by dialing the provided numbers or by visiting the Seres website. A replay will be available on the website for 21 days.
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