Shares of Greenhouse Therapeutics Inc. MCRB,
were nearly quadrupled (up to 270%) in heavy volume in pre-trade on Monday after the microbiome therapy company reported optimal results of a Phase 3 trial of its SER-109 for recurrent C. difficile infections (CDI) ), or a colon infection. Trading volume shrank to 7.1 million shares, compared to the full day average of around 876,000 shares. Seres said the study showed that SER-109 resulted in an “absolutely statistically significant decrease”
; in the proportion of patients who experienced a recurrence of CDI within 8 weeks of administration despite placebo. We are extremely pleased with the results of this very meaningful clinical study SER-109 Phase 3, well exceeding the statistical threshold provided by [Food and Drug Administration], “said Chief Executive Officer Eric Shaff.” Based on our previous discussions with the FDA, we believe this judgment should provide the basis for efficiency in filing a product approval application. “The stock has collected 34.5% from the year to Friday, while iShares Nasdaq Biotechnology ETF IBB,
has advanced 13.0% and S&P 500 SPX,
has gained 3.7%.