Seres Therapeutics Inc (NASDAQ: MCRB)
Seres therapeutics is having a great start to the trading session today. At the opening bell, the stock was already trading slightly green. However, that proved to be just the tip of the iceberg. In fact, as soon as the bell rang, the stock started spiking upward in a big way. Below, we'll talk about what we're seeing from MCRB, why, and what we'll be watching for ahead.
What We're Seeing From MCRB
As mentioned above, Seres Therapeutics is having an incredibly strong start to today's trading session. At the opening bell, the stock was already trading slightly in the green. From there, it went on a mad-dash toward the top and continues to run. At the moment (9:41), MCRB is trading at $11.83 per share after a gain of $2.56 per share (27.65%) thus far today.
Why The Stock Is Headed Up
As is usually the case, our partners at Trade Ideas were the first to alert us to the gains on MCRB. As soon as we received the notification, the CNA Finance team started digging to see why the stock was making a run for the top. It didn't take long to dig up the story. Ultimately, the gains are the result of news surrounding a Phase 2 clinical study initiation that's coming soon.
In fact, Seres Therapeutics announced that it will be initiating a new SER -109 Phase 2 study. The study will be assessing the treatment in patients with multiply recurrent clostridium dfficile, also known as C. Difficile infection. The study design has been viewed as positive by the FDA in a Type B meeting. In a statement, Roger J. Pomerantz, M.D., President, CEO and Chairman at MCRB, had the following to offer:
“We are pleased to have received highly constructive guidance from the FDA regarding further SER-109 clinical development and we plan to initiate a new clinical study as soon as possible... Our prior SER-109 studies provided important new biological and clinical data that have advanced our pioneering of microbiome therapeutic efforts. Based on our learnings and dialogue with the FDA, we believe that we are now positioned to initiate a robust clinical study that may provide the basis for SER-109 approval. There is an urgent need for improved treatments for C. Difficile infection, and we believe SER-109 has great potential to address the underlying cause of the disease and become the first approved microbiome therapeutic in this new field of medicine.”
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MCRB. In particular, we're interested in following the company's progress with regard to SER-109. We'll continue to follow the story closely and bring you the news as it breaks!
Update 12:05 - MCRB just issued an S-3 filing. That means that it is planning a Shelf Offering of up to $150 million. Currently, the stock is trading at $12.26 per share after a gain of $2.99 per share (32.26%) thus far today.
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