$MCRB (McRib? a/k/a Seres Therapeutics Inc.)

A small amount of discussion on the TF tonight regarding MRCB.

Here’s a recent article that explains their drug coming up for PDUFA on April 26, 2023.
Alluring Opportunities With Great Clinical Trial Results! | by ThePharmacyInvestor | Apr, 2023 | Medium

JPMorgan initiated coverage 2 days ago (neutral - price target $7) and currenting is sitting at 6.51 with a 52 wk hi/lo of 9.49 / 2.50.

If there’s a good price to get in at tomorrow I’ll buy some shares.


Thank you for starting a thread on this.

In addition to the question of approval, the label they will receive will impact significantly the price.

The label defines basically for what disease, for what type of patient (age, preconditions, …), with what risk management and when (other drugs have to fail first) the drug is approved.

In this case the question is if the drug will be approve as first response to the infection (broad label) or only after the 2nd or 3rd recurrence of the infection (narrow label).

The latter is what’s supported by the clinical data, but there is a chance for first option (broader label) given the unmet need.

Depending if there is a good entry point I will start a small position.


Went through the clinical data. So in fact all the clinical research was focused only for 3 or more recurrent episodes of C diff. So the idea of a broader label is highly speculative, mainly driven by comments made by the company. Wondering if a Straddle could be a good play here.


I will wait for the Conference Call this morning before i decide what to do with my position.



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Seres Therapeutics Announces $250 Million Debt Financing with Oaktree | Seres Therapeutics

Something everyone should keep in mind is financing costs (from the PR and emphasis is mine): Of the $110 million advanced by Oaktree at closing, approximately $53 million retires outstanding debt, and after deducting fees and expenses, the net proceeds to the Company are approximately $50 million. The Term Loan Facility carries an interest rate equal to the three-month secured overnight financing rate (“SOFR”) plus 7.875%, with the interest rate capped at 12.875% per annum. The Term Loan Facility is expected to mature six years from funding and carries an initial interest only period for the first three years, which may be extended to six years based upon the achievement of certain VOWST sales targets.