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A frost may be setting in across the microbiome therapeutics space after another clinical trial failure announcement from Seres Therapeutics, this time with an ulcerative colitis treatment.

Not only has Seres’ share price has fallen more than 60% since Thursday, the stock prices of rival microbiome therapy makers Finch Therapeutics, Evelo Biosciences, and Kaleido Biosciences were down by roughly 20%.


“People don’t believe in the translation of the science outside of [C. difficile infections] now,” said Chris Howerton, an equity research analyst at Jefferies who covers Seres Therapeutics. “I’d expect high scrutiny on microbiome companies now and fundraising to become more difficult.”

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