Seres Therapeutics, Inc. develops live biotherapeutic products and microbiome-based therapies for inflammatory, immune, infectious and gastrointestinal diseases. Company updates commonly address pipeline programs such as SER-155 for immune checkpoint inhibitor-related enterocolitis and prevention of bloodstream infections in allogeneic hematopoietic stem cell transplant patients, SER-603 for inflammatory bowel disease, and SER-428 for antimicrobial resistance and serious infections.
Recurring announcements include financial results, operational updates, research publications, scientific conference presentations, biomarker and microbiome-mechanism data, collaborations, financing and partnership activity, cost-control measures, and governance changes.
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.
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.