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Investing.com -- Seres Therapeutics (NASDAQ:MCRB) stock jumped 5% in early New York trading on Monday after the company announced the appointment of Thomas DesRosier and Marella Thorell as co-Chief Executive Officers.
The management change comes as Eric Shaff steps down from his role as CEO, though he will remain on the company’s board of directors. The biotech firm did not specify reasons for the leadership transition.
In addition to the executive reshuffle, Seres disclosed that it is currently in discussions with multiple parties regarding various deal structures. These potential arrangements include business development opportunities and partnerships aimed at securing additional capital to advance the company’s live biotherapeutic product candidates.
The positive market reaction suggests investors are optimistic about the new leadership team and the company’s efforts to strengthen its financial position through strategic partnerships.
Seres Therapeutics is focused on developing microbiome therapeutics designed to treat serious diseases by modulating the function of the human microbiome.
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