Selecta Biosciences (SELB) Stock: Why The Price Fell Today

By Amit Chowdhry ● Nov 26, 2021
  • The stock price of Selecta Biosciences Inc (NASDAQ: SELB) fell by over 12% pre-market today. This is why it happened.

The stock price of Selecta Biosciences Inc (NASDAQ: SELB) – a biotechnology company leveraging its clinically validated ImmTOR platform to develop tolerogenic therapies that selectively mitigate unwanted immune responses – fell by over 12% pre-market today. Investors are responding negatively to Selecta Biosciences announcing that the U.S. Food and Drug Administration (FDA) has placed a clinical hold on its Phase 1/2 clinical trial of SEL-302 (which consists of MMA-101 plus ImmTOR) for the treatment of patients with methylmalonic acidemia (MMA).

On November 23, Selecta had received a letter from the FDA issuing a clinical hold in order to obtain additional information on the chemistry, manufacturing and controls (CMC) related to the MMA-101 product candidate. There were no outstanding clinical or pre-clinical questions in the FDA letter. And this clinical trial had not yet been initiated and no human patients will be dosed with MMA-101 until all of the FDA’s questions are resolved. Selecta plans to work closely with the FDA to address the requests for additional information.

KEY QUOTE:

“Patient safety is our primary concern, and we are committed to addressing the FDA’s questions regarding CMC as expeditiously as possible. We look forward to working closely with the FDA to satisfy all outstanding concerns, and to providing additional updates early next year.”

— Carsten Brunn, Ph.D., president and chief executive officer of Selecta

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.