Seres Therapeutics, Inc. - MCRB STOCK NEWS

Seres Therapeutics has secured a $250 million senior secured debt facility from Oaktree Capital Management, with $110 million received at closing. This financing supports the commercial launch of VOWST™ and advances the company’s pipeline.

The initial $110 million will retire $53 million of existing debt, leaving around $50 million for operations. The loan carries an interest rate of SOFR + 7.875%, capped at 12.875%, maturing in six years with a possible three-year extension.

With VOWST's FDA approval in April 2023, Seres aims to lead in microbiome therapeutics. The partnership with Oaktree is vital for Seres’ growth, addressing significant medical needs.

Seres Therapeutics announced that the FDA has approved VOWST (fecal microbiota spores, live-brpk), the first orally administered microbiota-based therapeutic for preventing recurrent C. difficile infection (CDI) in adults post-antibacterial treatment. The approval follows the successful Phase 3 ECOSPOR III study, which indicated that 88% of treated patients were recurrence-free at eight weeks. VOWST is expected to be available in June 2023, with a milestone payment of $125 million to Seres from Nestlé Health Science linked to the FDA approval. The joint commercialization effort aims to address a significant unmet medical need as recurrent CDI is a leading cause of hospital-acquired infections. The product does not treat CDI but aims to prevent its recurrence.

On April 5, 2023, Seres Therapeutics (Nasdaq: MCRB) announced the granting of inducement equity awards totaling 22,000 shares to three new employees. This includes options for 11,000 shares and restricted stock units (RSUs) for another 11,000 shares. The stock options have an exercise price of $5.61 per share and will vest over a specified schedule, rewarding employees for their service. This grant is part of the 2022 Employment Inducement Award Plan, which allows the company to incentivize new employees under Nasdaq rules. This announcement is part of Seres' strategy to attract and retain talent in the competitive biotech sector, enhancing its operational capacity to develop microbiome therapeutics.

Seres Therapeutics, a leading microbiome therapeutics company (Nasdaq: MCRB), announced that CEO Eric Shaff will present at the Oppenheimer 33rd Annual Healthcare Conference on March 15, 2023, at 8:40 a.m. ET. The presentation will be accessible via an audio webcast on Seres' website, with a replay available for 21 days after the event.

Seres is pioneering novel multifunctional bacterial consortia aimed at treating diseases. Its SER-109 program has achieved positive clinical results, gaining FDA Breakthrough Therapy and Orphan Drug designations for preventing recurrent C. difficile infections. The company is also advancing SER-155 in a Phase 1b study targeting gastrointestinal infections and other conditions.

Seres Therapeutics (MCRB) reported its 2022 financials and business updates, highlighting the FDA's review of its SER-109 Biologics License Application, with a target decision date of April 26, 2023. SER-109 is an oral microbiome therapeutic aimed at recurrent C. difficile infection (rCDI), showing an 88% success rate in preventing recurrence in trials. Commercial launch is expected soon after FDA approval. The company also advances SER-155, with preliminary data expected in May 2023. Despite a significant net loss of $250.2 million in 2022, Seres anticipates a $125 million milestone payment upon SER-109's approval.

Seres Therapeutics, Inc. (Nasdaq: MCRB) announced on March 1, 2023, the grant of inducement equity awards totaling 15,500 shares to three new employees. The awards comprise 9,250 stock options and 6,250 restricted stock units (RSUs), issued under the Company's 2022 Employment Inducement Award Plan.

The options have an exercise price of $5.15 per share and will vest over time, with 25% vesting after one year and the remainder vesting quarterly. This plan aims to attract talent in compliance with Nasdaq rules.

Seres Therapeutics (NASDAQ: MCRB) will host a conference call on March 7, 2023, at 8:30 a.m. ET to discuss its Q4 and full year 2022 results and provide a business update. Interested parties can join the call by dialing 800-715-9871 (domestic) or 646-307-1963 (international) with conference ID 4218669. Seres specializes in microbiome therapeutics and has developed SER-109, which is in the process of advancing as a potential first-in-class oral FDA-approved microbiome therapeutic for C. difficile infection. The company also evaluates SER-155 in Phase 1b studies for patients undergoing stem cell transplants.

Seres Therapeutics (NASDAQ: MCRB) announced that President and CEO Eric Shaff will participate in a panel discussion at the Cowen 43rd Annual Health Care Conference on March 6, 2023, at 9:10 a.m. ET. An audio webcast will be available on the company’s website under the 'Investors and News' section, with a replay accessible for 21 days after the event.

Seres is a leader in microbiome therapeutics, notably advancing the SER-109 program, aimed at preventing C. difficile infection recurrences, with FDA breakthrough designations. The company also evaluates SER-155 for patients undergoing stem cell transplants.

Seres Therapeutics (NASDAQ: MCRB) announced the publication of Phase 3 ECOSPOR IV trial results in JAMA Network Open, showing that 91.3% of subjects were free from recurrent C. difficile infections at 8 weeks. The trial involved 263 participants and also indicated a significant improvement in health-related quality of life compared to placebo. The safety profile was consistent with prior trials, showing no treatment-related withdrawals. A Biologics License Application for SER-109 has been submitted to the FDA, with a PDUFA action date set for April 26, 2023. These results further support the company's efforts in microbiome therapeutics.