Biotech Shares Catch Premarket Bid On Tuesday

Biotech Shares Catch Premarket Bid On Tuesday

By: Tomas Ronolski - News

Tuesday, March 21, 2023

A Massachusetts-based biotech company is finding early success on Tuesday after the company announced the Phase 3 DISSOLVE program of their SEL-212 in chronic refractory gout met the primary endpoint, according to the release.

While that is rather technical in nature, the bottom line is that traders are excited about the prospects of the announcement as shares of Selecta Biosciences (Nasdaq:SELB) are currently bid up at $1.38/share (+7.81% implied open for sellers) at the time of writing.

Selecta Biosciences Inc is a clinical-stage biopharmaceutical company. The company uses its ImmTOR immune tolerance platform, which is designed to give rise to antigen-specific immunity, mitigating unwanted immune responses. Its product pipeline includes MMA-101, SEL-212 for Chronic Severe Gout, SEL-313 for Ornithine Transcarbamylase Deficiency (OTC), and others.

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