Seres Therapeutics (MCRB) skyrockets 411% on positive data on Phase 3 colon infection. after the microbiome therapeutics company reported upbeat results of a Phase 3 trial of its SER-109 for recurrent C. difficile infections (CDI), or an infection of the colon. Trading volume ballooned to 7.1 million shares, compared with the full-day average of about 876,000 shares. Seres said the study showed that SER-109 resulted in a “highly statistically significant absolute decrease” in the proportion of patients who experienced a recurrence in CDI within 8 weeks of administration versus placebo.
The drug met the study’s primary endpoint with a significantly lower recurrence rate of 11.1% in SER-109 patients versus 41.3% in placebo patients at eight weeks (with a p value of 0.001) when tested at the one-sided 0.25 level. Patients administered SER-109 experienced a 30.2% lower rate of recurrence, on an absolute basis, compared to placebo.
The biotech said the ECOSPOR III recurrence rates “translate into a sustained clinical response rate of 88.9% versus 58.7% with SER-109 and placebo, respectively.”
The SER-109 safety results “were favorable” and similar to placebo, it added, with AEs mainly being flatulence, abdominal distention and abdominal pain, which were “generally mild to moderate in nature.”
It plans to ask for a Breakthrough FDA meeting as quickly as possible to submit a new BLA for the drug.
This comes after a tough time for the biotech: In February last year, Seres cut about 30% of its workforce and said goodbye to its chief scientific officer as it narrowed its clinical efforts, which centered on SER-109, as well as a planned immuno-oncology study.
That move came less than a month after the company announced that its chief financial officer, Eric Shaff, would take over as CEO, and that Seres would look more toward immunological indications as it entered its “next phase of development.”
It also comes four years after the drug failed a phase 2 trial: SER-109 failed to outperform a placebo in terms of cutting the risk of CDI, leaving the biotech at the time scraping through the results in search a path forward for the program.
In the SER-109 arm of the study, 44% of participants experience a recurrence of CDI. A little more than half of subjects who received the placebo saw their CDI recur. When Seres crunched the numbers, this difference fell short of being a statistically significant reduction in relative risk of CDI recurrence, leaving the firm with a midstage trial that failed to meet its primary endpoint.
The phase 3 of SER-109 and its planned recruitment of 320 patients had been slowed because of widespread use of fecal microbiota transplants as an unapproved treatment for C. difficile infections.
The ECOSPOR III study in the end enrolled 182 patients with multiply recurrent CDI; there is also an ongoing SER-109 open-label study. The FDA has previously told Seres it would need to see 300 patients tested with the drug to accept a review.
“We are extremely pleased with these highly clinically meaningful SER-109 phase 3 study results, greatly exceeding the statistical threshold provided by the FDA. Based on our prior discussions with the FDA, we believe this trial should provide the efficacy basis for submitting an application for product approval. We look forward to meeting with the FDA as soon as possible to discuss the regulatory path forward with the goal of bringing SER-109 to patients as a first-in-class microbiome therapeutic,” said Eric Shaff, president and CEO of Seres.
Is Seres Therapeutics (MCRB) a reliable investment?
Shares of Seres Therapeutics (MCRB) appear to be a very good investment option, the Money Midnight Indicator is expecting its price to increase considerably in the next several months. The majority of the metrics point to this investment being highly attractive.
Looking to beat the market?
Sign up and get Money Signals straight to your phone with over 50% in profits! Join now!