A biotech stock just rocketed 608% after announcing positive phase 3 trial data - Business Insider

C. difficile is a bacterial infection of the colon that leads to inflammation and can be deadly.

Shares of Seres rocketed as much as 608% to $33 on Monday. Investors seem to be impressed by the results. According to Seres, SER-109 was well tolerated by its trial participants and the drug led to a 30% decline in the recurrence of C. difficile relative to the placebo. The biotech's market valuation soared from $354 million as of Friday's close to more than $1.5 billion as of Monday afternoon, according to data from YCharts.com.JPMorgan says buy these 19 'diamond in the rough' stocks that have plunged from yearly highs, but are spring-loaded for huge gains ahead

Meanwhile, some investors were betting on the opposite outcome for Seres' clinical trial data. According to ShortSqueeze.com, as of Monday the percentage of shares sold short stood at 17.7%, or 7.4 million shares. The shares sold short that represented a market value of $43.7 million on Friday represented a market value of as much as $245.5 million at Monday's high. That indicates a loss of as much as $201.8 million, assuming no shares sold short were bought back to cover.four years earlier for the same drugSeres said it will meet with the FDA to talk about filing for product approval "as soon as possible," according to the news release.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

If you're unemployed, Business Insider wants to hear from you - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Thank god, it’s only for US
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market crash: Expert warns record high may be a 'historic trap' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you need logo ? your own signature logo iam logo and animation designer I will design professional and unique signature logo. Please Contact Me: Logo Logo Designe Signature Logo Nobody knows nothing quant_invest hnr70 iancolinstewart
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market news today: Dow, S&P react to Trump orders, China, virus - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market outlook: Wave of bankruptcies biggest risk, El-Erian says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »