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Seres Therapeutics, Inc. stock price
Seres Therapeutics, Inc. latest news:
Seres Therapeutics stock drops 19% on clinical trial results
Seres Therapeutics Inc. shares dropped 18.6% in heavy Monday morning trade after the company released results from an early-stage trial testing its microbiome therapy in ulcerative colitis. The company touted the results as positive and said that the therapy, SER-287, had no clinically significant safety problems and showed better remission rates and improved mucous membrane appearance in ulcerative colitis patients, two of the study's secondary efficacy endpoints. However, once the company posted a corrected version of the press release, investors focused on clinical response -- another secondary efficacy endpoint -- which showed that patients on the placebo had the same clinical response rate as patients who were treated with SER-287 daily and pre-treated with the antibiotic vancomycin. Clinical response was 40% for patients treated weekly with SER-287, a -17.1% difference from the placebo, and 28.6% for patients treated weekly with the therapy and pre-treated with vancomycin, a -31.4% difference from the placebo. The clinical trial enrolled 58 patients across the U.S.; all of the patients were failing current ulcerative colitis therapies, Seres Therapeutics said. The company plans to release microbiome study results, which are a co-primary endpoint, in the coming months; Seres Therapeutics also said it plans to discuss the data with the Food and Drug Administration to find the fastest path forward for SER-287. Ulcerative colitis is a chronic condition that affects the colon and rectum and can cause inflammation and ulcers in the digestive tract, according to the Mayo Clinic. Seres Therapeutics shares have risen 15.1% over the last three months, compared with a 4.2% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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