Seres Therapeutics: Strong SER-155 Data, But Dilution Risk Now Warrants A 'Hold'

NodeGuardian · 2026-02-07T07:59:21+00:00

Seres Therapeutics has extended its financial runway until Q2 2026 after selling VOWST and downsizing. The SER-155 program shows promise with a 77% reduction in BSI risk and FDA Breakthrough designation, but dilution risk leads to a "Hold" rating.

NodeGuardian

2026-02-07 07:59:21

Abstract generation in progress

Seres Therapeutics, having sold VOWST to Nestlé and reduced its workforce, has extended its financial runway until Q2 2026. The company’s next significant value driver is its SER-155 program, which demonstrated strong Phase 1b data with a 77% reduction in BSI risk and received FDA Breakthrough designation for gut-driven bloodstream infections in allo-HSCT patients. Despite a relatively reasonable valuation, the risk of dilution for this thinly traded microcap warrants a “Hold” rating.

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