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Thursday, June 25, 2015 1:55:18 PM
The firm plans to offer 6,250,000 shares of common stock, with a price target of $15-17 per share. Seres plans to raise $89.8 million, or $103.7 million if the underwriters exercise in full their option to purchase additional shares. Goldman Sachs and Bank of America Merrill Lynch are the lead underwriters of the IPO, with Canaccord Genuity and Leerink Partners rounding out the syndicate.
The proceeds will be used to continue its research of the microbiome, where Seres is a pioneer in lead therapy technology. The company hopes to develop new therapies for antibiotic-resistant infections through continued research of the microbiome. The current target infection is Clostridium Difficile, known as CDI.
The company garnered attention in the biotech industry in 2014, when its lead therapy, SER-109, blocked CDI from recurring in 29 out of 30 patients. Seres plans to use approximately $25 million to advance the development of SER-109. Currently, it is in phase 2 development of the therapy, and Seres believes the funds will help complete the development. The company plans to use an additional $40 million to continue research on other product candidates similar to SER-109.
S-1 here:
http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=10297871
Recent MCRB News
- Seres Therapeutics Announces Completion of Patient Enrollment for SER-155 Phase 1B Cohort 2 Clinical Trial in Allogenic HSCT • Business Wire • 04/09/2024 11:00:00 AM
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- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 12:06:02 PM
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- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 02/23/2024 09:05:29 PM
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