Selecta Biosciences Narrows R&D Focus On Gout Candidate
Portfolio Pulse from Vandana Singh
Selecta Biosciences Inc (NASDAQ:SELB) has announced a strategic initiative to maximize stockholder value by focusing on its gout treatment candidate, SEL-212. The company plans to suspend further investment in other pipeline assets to focus on potential licensing and corporate development activities. This is expected to extend its cash runway into 2027. Selecta will continue to develop SEL-212 in partnership with Sobi, with a BLA submission expected in the first half of 2024. The company will also continue the development of IdeXork under a licensing agreement with Astellas Gene Therapies.
August 17, 2023 | 5:04 pm
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Selecta Biosciences' strategic shift to focus on SEL-212 and suspend investment in other assets could potentially increase stockholder value. The company's shares are up 1.96% following the announcement.
The company's decision to focus on SEL-212, a potential gout treatment, and suspend investment in other assets is a strategic move to maximize stockholder value. This has been positively received by the market, as evidenced by the 1.96% increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100