Shares of Seres Therapeutics (NASDAQ:MCRB) rose 5% during early trading in New York on Monday after the biotech company announced a leadership shake-up, naming Thomas DesRosier and Marella Thorell as co-Chief Executive Officers.
The executive transition follows the departure of former CEO Eric Shaff, who will continue to serve on Seres’ board of directors. The company did not elaborate on the reasons behind the change in leadership.
Alongside the announcement, Seres revealed it is actively engaged in negotiations with several parties to explore a variety of transaction structures. These talks include potential business development deals and strategic partnerships intended to bring in additional funding to support the advancement of its live biotherapeutic product pipeline.
The market’s upbeat response indicates investor confidence in the dual CEO structure and optimism around the company’s pursuit of external partnerships to reinforce its financial stability.
Seres Therapeutics focuses on the development of microbiome-based therapies aimed at treating severe diseases by influencing the activity of the human microbiome.
Seres Therapeutics stock price
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