On 20 March 2020, Seres Therapeutics, Inc. stock identified change of 58.42% away from 52-week low price and recently located move of -56.70% off 52-week high price. MCRB stock has been recorded -4.27% away from 50 day moving average and -6.05% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.64% off 20-day moving average.
Seres Therapeutics, Inc., (MCRB) recently stated fourth quarter and full year 2019 financial results and provided an operational update.
“Throughout 2019, we reinforced Seres’ leadership in microbiome therapeutics and advanced our robust pipeline toward multiple near-term readouts and secured an immuno-oncology alliance with AstraZeneca. We also strengthened our balance sheet by adding about $100M of new capital to support our R&D programs through important milestones predictable in 2020, including two late stage clinical readouts,” stated Eric Shaff, President and Chief Executive Officer of Seres. “We are excited by the potential of SER-287 for ulcerative colitis and SER-109 for recurrent C. difficile infection. Both of these therapeutic candidates could represent first-in-class treatments with potential to fundamentally transform disease management. These readouts may also serve to further validate the tremendous promise of our microbiome therapeutics approach.”
Seres stated a net loss of $70.3M for the full year of 2019, as contrast to a net loss of $98.9M for the previous year. Seres stated a net loss of $18.8M for the fourth quarter of 2019, as contrast to a net loss of $21.3M for the same period in 2018. The fourth quarter net loss figure was inclusive of $7.6M in recognized revenue associated primarily with the Company’s collaborations with Nestlé Health Science and AstraZeneca.
Research and development expenses for the fourth quarter of 2019 were $21.0M, as contrast to $24.8M for the same period in 2018. The research and development expenses were primarily related to Seres’ microbiome therapeutics platform, the clinical development of SER-109 and SER-287, as well as the Company’s immuno-oncology efforts.
General and administrative expenses for the fourth quarter were $5.8M, as contrast to $7.5M for the same period in the previous year. General and administrative expenses were primarily Because of headcount, professional fees and facility costs.
Seres ended the fourth quarter with about $94.8M in cash, cash equivalents and investments, a raise sequentially from the $83.8M stated for the end of the third quarter. The fourth quarter cash position included the second of three $6.7 payments from AstraZeneca related to the Company’s ongoing immuno-oncology contract, as well as the first tranche of $25M received upon the closing of the before reported debt contract.
Based on the Company’s current operating plan, cash resources are predictable to fund operating expenses and capital expenditure requirements, not including net cash flows from future business development activities or potential incoming milestone payments, into the second quarter of 2021.
The Healthcare sector company, Seres Therapeutics, Inc. noticed change of -0.62% to $3.2 along volume of 142403 shares in recent session compared to an average volume of 243.75K. MCRB’s shares are at -27.23% for the quarter and driving a -52.37% return over the course of the past year and is now at -6.67% since this point in 2018.