Seres falls after Nestle's health arm to acquire fecal transplant pill

Seres Therapeutics

06/06/2024 14:27

** Shares of drugmaker Seres Therapeutics  MCRB.O  down 4.4%
to $1.1 premarket 
    ** Nestle Health Science will buy rights to MCRB's Vowst,
gaining full access to first ever pill alternative to fecal
transplants for deadly bacterial infection
    ** U.S. FDA last year approved Vowst to prevent recurrence
of Clostridioides difficile infections (CDI)
    ** Seres entered into a deal with Nestle's unit in 2021 to
jointly commercialize drug in the U.S. 
    ** Nestle's  NESN.S  unit will pay undisclosed payment to
Seres and it will also receive capital infusions 
    ** MCRB reported net sales of $10.1 mln for the drug in Q1
2024 
    ** As of last close, MCRB down 18.6% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))