Just yesterday, Seres’s stock was at $20.83. However, today it is sharply declining: the price is currently $9.16 in the pre-market, resulting in a 56% loss. The company today announced results from the Phase 2b ECO-RESET, a study evaluating SER-287 in patients with mild-to-moderate ulcerative colitis. The study did not meet its main goal of improving clinical remission rates compared to placebo.
Given the lack of a clinical effectiveness signal identified in ECO-RESET, the company has decided to close open-label and maintenance portions. Microbiome endpoints and analyses will be in the second half of 2021. No meaningful clinical differences and no statistical significance were noticed in absolute clinical remission rates among the three treatment arms.
There were also no meaningful differences observed across the three treatment groups for endoscopic improvement, endoscopic remission, or symptomatic remission. The majority of observed AEs were mild or moderate in intensity. Both dosing regimens of SER-287 were well handled.
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