Shares of Seres Therapeutics Inc. MCRB,
hit nearly fourfold (up 270%) on heavy volume in premarket trading Monday, after the microbiome therapy company reported faster results from a Phase 3 trial of its SER-109 for recurrent C. difficile infections (CDI), as an infection of the colon. Trading volume ballooned to 7.1 million shares, compared to the all-day average of about 876,000 shares. Seres said the study showed that SER-109 resulted in a “very statistically significant absolute decrease” in the proportion of patients who experienced a return to CDI within 8 weeks of administration versus placebo. “” We are very pleased with these very clinically significant SER-109 Phase 3 study results, which meet the statistical threshold set by the [Food and Drug Administration], “said Chief Executive Eric Shaff.” Based on our prior discussions with the FDA, we believe that this test should provide the effectiveness basis for submitting an application for product approval. “The stock has increased 34.5% up to and including Friday, while the iShares Nasdaq Biotechnology ETF IBB,
is 13.0% advanced and the S&P 500 SPX,
has received 3.7%.
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