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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).
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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