Seres Therapeutics rises on FDA's 'fast track' tag for bacterial infection drug

Seres Therapeutics

09/01/2024 13:31

** Shares of drugmaker Seres Therapeutics  MCRB.O  rise
21.2% to ~$1.90 premarket
    ** Co announces U.S. Food and Drug Administration's "fast
track" designation for its bacteria infection drug 
    ** The experimental oral drug, SER-155, is designed to
prevent gastrointestinal bacterial infections, blood stream
infections and reduce a type of severe inflammation in patients
undergoing stem cell transplants   
    ** Says data readout from a early-stage study testing
SER-155 is anticipated in Q3 of 2024 
    ** Co also says its approved bacterial infection drug,
Vowst, had total 2023 net sales of about $19.6 mln since its
launch in June 
    ** Fast track is a designation that the FDA reserves for a
drug intended to treat a serious or life-threatening condition
and expedite the review of the drug 
    ** Stock fell 75% in 2023


 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))