Seres Therapeutics Shares Rise 15% After Getting FDA Fast-Track Designation for Infection Treatment

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 [e-mail]

(END) Dow Jones Newswires

01-09-24 0755ET