Chardan lowered the firm’s price target on Seres Therapeutics (MCRB) to $10 from $12 and keeps a Buy rating on the shares after Seres and partner Nestle Health Sciences (NSRGY) announced the FDA approval of VOWST, formerly SER-109, for the treatment of recurrent C. difficile Infection, or rCDI,in adults following antibacterial treatment. The approval of VOWST "was not a surprise" given the supportive safety and efficacy data from the phase 3 trial, says the firm, which cites initial WAC pricing of $17,500 per course of treatment, which was lower than the $25,000 the firm had assumed, for its lower target.
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Published first on TheFly
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