Why Seres Therapeutics Stock Skyrocketed 350% Today
Shares of Seres Therapeutics (NASDAQ: MCRB) soared on Monday after the biotech company announced promising results from a phase 3 study of its experimental therapy for colon infections. As of 3:35 p.m. EDT, Seres' stock was up 350% after rising as much as 611% earlier in the day.
Seres said the administration of its oral microbiome therapeutic, labeled SER-109, resulted in a 30.2% decline in the number of patients who experienced a recurrence of C. difficile infection (CDI) within an eight-week period, compared to a placebo. The drug was also well tolerated, with no serious adverse events reported during the study.
Seres Therapeutics' stock rocketed higher on Monday. Image source: Getty Images.
Source Fool.com
