Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres”), a leading microbiome therapeutics platform company developing a novel class of biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome, announced on 6/12/19 that it is commencing an underwritten registered public offering of $60.0 million of shares of its common stock. As part of this offering, Seres intends to grant the underwriters a 30-day option to purchase up to an additional $9.0 million of shares of its common stock. All of the shares in the proposed offering are to be sold by Seres.
Seres lead candidate, SER-109, is in Ph III trials. SER-109 is being developed as a treatment for C. difficle. The company is also developing products for ulcerative colitis and for use in combination with immuno-oncology treatments. The company expects to file an IND for one of its potential UC treatments (SER-301) by early 2020. Seres intends to use the net proceeds of this offering to advance the development of our product candidates and for other general corporate and working capital purposes.