MCRB Stock Price: Seres Therapeutics Inc tumbles after recent surge
|- NASDAQ:MCRB drops 11.72% the day after shares added over 500% to their value.
- The announcement of Seres’ successful Phase 3 trial for SER-109 pushes its market cap over $1 billion.
NASDAQ:MCRB has certainly provided its shareholders with reason to celebrate this week even with the stock price pulling back by 11.72% during Tuesday’s trading session. Shares of the biotech firm rose by over 500% on Monday – inflating the market cap from $354 million to over $1.5 billion in a single trading day. It is never too surprising when a stock price falls after a rapid ascent as investors who are not long on the company take their profits and run.
Seres reported some very positive results from Phase 3 of their clinical trial for SER-109 – a drug that treats CDI or C. difficile infection. CDI is an infection of the colon which if left untreated, can be life-threatening. The biotech firm was pleased to find a 30% decrease in the number of patients where a recurrence of CDI was found within eight weeks of being treated with SER-109. The next step for Seres is to apply for FDA approval for oral therapy – which will immediately help the estimated 170,000 Americans who suffer from CDI every year.
Seres Therapeutics Stock
MCRB’s trading average skyrocketed to over 7 million shares compared to its daily average of just under 900,000. The biotech firm still has some work to do to get FDA approval for their drug but if the positive results are any indication – they should have no issues with receiving that approval. FDA approval usually takes about six months to complete so it could be a while before MCRB sees any real profits from SER-109.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.