CAMBRIDGE, Mass. - Seres Therapeutics, Inc. (NASDAQ:MCRB), a microbiome therapeutics company, announced the appointment of Marella Thorell as the new Executive Vice President and Chief Financial Officer, effective March 25. Thorell will succeed David Arkowitz, who has held the role since June 2021 and is set to retire. Arkowitz will aid in the transition period.
Thorell brings a wealth of experience to Seres, having held executive positions in several life sciences and biotechnology companies, including Evelo Biosciences (OTC:EVLO) and Centessa Pharmaceuticals. Her background includes expertise in strategy development, corporate finance, and operations.
Eric Shaff, President and CEO of Seres, expressed enthusiasm about Thorell joining the team. He highlighted her financial acumen as a valuable asset for the future, especially as the company focuses on commercializing its FDA-approved microbiome therapeutic, VOWST, and advancing its clinical pipeline.
David Arkowitz, the outgoing CFO, reflected positively on his tenure, noting his role in the launch of VOWST, the first FDA-approved oral microbiome therapeutic, and expressing confidence in the company's continued success.
Seres Therapeutics is at the commercial stage of developing novel microbiome therapeutics for serious diseases. Its lead program, VOWST, was approved by the FDA in April 2023 to prevent recurrence of C. difficile infection in adults. The company is also evaluating another candidate, SER-155, in a Phase 1b study for patients undergoing allogeneic hematopoietic stem cell transplantation.
The information reported is based on a press release statement from Seres Therapeutics, Inc.
InvestingPro Insights
As Seres Therapeutics, Inc. (NASDAQ:MCRB) welcomes Marella Thorell as its new CFO, the company's financial health and market performance remain key areas of interest for investors. According to InvestingPro data, Seres Therapeutics currently holds a market capitalization of $154.29 million. Despite an impressive revenue growth of 851.37% over the last twelve months as of Q3 2023, the company has been grappling with significant challenges, including a gross profit margin of -29.86% and an operating income margin of -107.49% over the same period.
InvestingPro Tips highlight that analysts are expecting sales growth in the current year, which may be a positive sign for the company's commercial efforts with its FDA-approved product, VOWST. However, the company is also noted for its rapid cash burn and weak gross profit margins, which could impact its financial sustainability. Additionally, the stock has experienced substantial volatility, with a price drop of approximately 78.76% over the past year.
For investors looking for more detailed analysis and insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/MCRB. With these tips, you can gain a deeper understanding of the financial nuances and market trends affecting Seres Therapeutics. Don't forget to use coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to an even broader array of valuable investment information and metrics.
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