SELB Selecta Biosciences Inc.

2.6
-0.04  -2%
Previous Close 2.64
Open 2.68
52 Week Low 1.28
52 Week High 4.83
Market Cap $278,572,866
Shares 107,143,410
Float 91,511,171
Enterprise Value $249,729,602
Volume 2,385,454
Av. Daily Volume 1,138,738
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Upcoming Catalysts

Drug Stage Catalyst Date
SEL-212 (COMPARE) - Head to head trial vs Krystexxa
Tophaceous gout
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
SEL-403
Mesothelioma
Phase 1
Phase 1
Grade 5 SAE reported October 17, 2018.

Latest News

  1. WATERTOWN, Mass., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced that Selecta's Chief Executive Officer, Carsten Brunn, Ph.D., will participate virtually in the following investor conferences in September:

    H.C. Wainwright & Co. 22nd Annual Global Investment Conference 2020
    Date: Monday, September 14, 2020
    Presentation Time: 3 p.m. ET

    Cantor Fitzgerald Virtual Global Healthcare Conference
    Date: Wednesday, September 16, 2020
    Presentation Time: 1:20 p.m. ET

    Live webcasts will be available in the Investors & Media section of the company's website…

    WATERTOWN, Mass., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced that Selecta's Chief Executive Officer, Carsten Brunn, Ph.D., will participate virtually in the following investor conferences in September:

    H.C. Wainwright & Co. 22nd Annual Global Investment Conference 2020

    Date: Monday, September 14, 2020

    Presentation Time: 3 p.m. ET

    Cantor Fitzgerald Virtual Global Healthcare Conference

    Date: Wednesday, September 16, 2020

    Presentation Time: 1:20 p.m. ET

    Live webcasts will be available in the Investors & Media section of the company's website at www.selectabio.com.

    About Selecta Biosciences, Inc.

    Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its pioneering immune tolerance platform (ImmTOR™). Selecta is committed to utilizing ImmTOR to potentially improve the efficacy of biologics, enable re-dosing of life-saving gene therapy, and create novel immunotherapies for autoimmune diseases. Selecta's late-stage product candidate, SEL-212, is designed to be a monthly treatment for chronic refractory gout, a debilitating rare disease with a significant unmet medical need. SEL-212 consists of a combination of its ImmTOR platform co-administered with pegadricase, an enzyme designed to treat patients with symptomatic gout, refractory to standard uric acid lowering treatment. Selecta's proprietary gene therapy product candidates are in development for certain rare inborn errors of metabolism and incorporate our ImmTOR platform with the goal of addressing barriers to repeat administration. In addition to our own pipeline of core discovery and clinical candidates, Selecta has established collaborative relationships with leading biopharmaceutical companies, including Asklepios BioPharmaceutical (AskBio) and Sarepta Therapeutics for gene therapy, and Swedish Orphan Biovitrum AB (Sobi™) for SEL-212. Selecta is based in Watertown, Massachusetts. For more information, please visit www.selectabio.com.

    For Investors:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

    For Media:

    Meredith Sosulski, Ph.D.

    LifeSci Communications, LLC

    +1-929-469-3851

    Primary Logo

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  2. WATERTOWN, Mass., Sept. 01, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTORTM, today announced that it has entered into a debt financing facility for up to $35 million with Oxford Finance and Silicon Valley Bank (SVB). Proceeds from the financing will be used to retire $12.6 million of existing debt, advance Selecta's ImmTOR pipeline in gene therapy and autoimmune diseases, and for selected business development activities.

    "This partnership with Oxford Finance and SVB bolsters our financial position and extends our cash runway as we look to accelerate the development of our…

    WATERTOWN, Mass., Sept. 01, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTORTM, today announced that it has entered into a debt financing facility for up to $35 million with Oxford Finance and Silicon Valley Bank (SVB). Proceeds from the financing will be used to retire $12.6 million of existing debt, advance Selecta's ImmTOR pipeline in gene therapy and autoimmune diseases, and for selected business development activities.

    "This partnership with Oxford Finance and SVB bolsters our financial position and extends our cash runway as we look to accelerate the development of our ImmTOR pipeline in gene therapy and autoimmune diseases," said Brad Dahms, Chief Financial Officer of Selecta. "We are pleased to continue our relationship with SVB and are excited to partner with Oxford Finance on this facility at such an important time for Selecta."

    "We are thrilled to support Selecta's efforts to continue development of its ImmTOR platform," said Christopher A. Herr, Senior Managing Director at Oxford Finance. "The potential for ImmTOR in gene therapy and autoimmune diseases align with our strategy of funding innovative life sciences companies".

    "Selecta is driving important advancements in biologic therapies through its ImmTOR platform," said Ryan Roller, Director of Life Science and Healthcare at Silicon Valley Bank. "We are pleased to expand our relationship with the Selecta team and have the opportunity to support the Company's next phase of growth."

    Under the terms of the financing agreement, Oxford Finance and Silicon Valley Bank will provide Selecta with up to $35 million of borrowing capacity available in two tranches: $25 million at closing, and an additional $10 million available through September 30, 2021 upon the achievement of two development milestones: enrollment of the first patient in the Phase 1 clinical trial of Selecta's gene therapy program in methylmalonic acidemia, and the enrollment of the first patient in each of the two Phase 3 clinical trials of SEL-212 in chronic refractory gout. The facility will require Selecta to make only interest payments through at least April 1, 2022. If the development milestones are met, the interest-only period will be extended to October 1, 2022. The entire facility matures on August 1, 2025. There are no financial covenants in the agreement.

    About Selecta Biosciences, Inc.

    Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its pioneering immune tolerance platform (ImmTOR™). Selecta is committed to utilizing ImmTOR to potentially improve the efficacy of biologics, enable re-dosing of life-saving gene therapy, and create novel immunotherapies for autoimmune diseases. Selecta's late-stage product candidate, SEL-212, is designed to be a monthly treatment for chronic refractory gout, a debilitating rare disease with a significant unmet medical need. SEL-212 consists of a combination of its ImmTOR platform co-administered with pegadricase, an enzyme designed to treat patients with symptomatic gout, refractory to standard uric acid lowering treatment. Selecta's proprietary gene therapy product candidates are in development for certain rare inborn errors of metabolism and incorporate our ImmTOR platform with the goal of addressing barriers to repeat administration. In addition to our own pipeline of core discovery and clinical candidates, Selecta has established collaborative relationships with leading biopharmaceutical companies, including Asklepios BioPharmaceutical (AskBio) and Sarepta Therapeutics for gene therapy, and Swedish Orphan Biovitrum AB (Sobi™) for SEL-212. Selecta is based in Watertown, Massachusetts. For more information, please visit www.selectabio.com.

    About Oxford Finance LLC

    Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/.

    About Silicon Valley Bank

    For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com

    Forward-Looking Statements

    Any statements in this press release about the future expectations, plans and prospects of Selecta Biosciences, Inc. ("the company"), including without limitation, the company's plans to use the proceeds from the debt financing facilities, the company's cash runway, the ability of the company to develop its product candidates, the potential of the ImmTOR platform in both gene therapy and autoimmune disease indications and generally, the company's ability to achieve various development milestones, the company's plans to access the additional $10 million available under the debt financing facility upon the achievement of various milestones, the timing, enrollment and progress of the company's clinical trial programs, and the timing of various interest payments, and the company's ability to grow its strategic partnerships, the sufficiency of the company's cash, cash equivalents and short-term investments, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "hypothesize," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, the following: the company's inability to maintain its existing or future collaborations, licenses or contractual relationships, the availability of funding sufficient for its foreseeable and unforeseeable operating expenses and capital expenditure requirements, substantial fluctuation in the price of its common stock including stock market fluctuations that occur as a result of the COVID-19 outbreak, and other important factors discussed in the "Risk Factors" section of the company's most recent Quarterly Report on Form 10-Q, and in other filings that the company makes with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent the company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The company specifically disclaims any intention to update any forward-looking statements included in this press release.

    For Investors:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

    soleburytrout.com

    For Media:  

    Meredith Sosulski, Ph.D.

    LifeSci Communications, LLC

    +1-929-469-3851

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    • Closed strategic licensing agreement with Sobi for SEL-212 for $100 million in initial payments and up to $630 million in potential milestones, and tiered double-digit royalties
    • Entered into research license and option agreement with Sarepta for the use of the ImmTOR™ immune tolerance platform in Sarepta's gene therapy programs in certain neuromuscular diseases
    • Gene therapy program in MMA in collaboration with AskBio on track to enter the clinic in the first half of 2021; preliminary data expected in the second half of 2021
    • Phase 3 clinical program of SEL-212 to commence with Sobi in Q3 2020; on track to report topline data from ongoing head-to-head COMPARE trial in Q3 2020
    • Cash runway into the first quarter of 2023
    • Company to host conference call
    • Closed strategic licensing agreement with Sobi for SEL-212 for $100 million in initial payments and up to $630 million in potential milestones, and tiered double-digit royalties
    • Entered into research license and option agreement with Sarepta for the use of the ImmTOR™ immune tolerance platform in Sarepta's gene therapy programs in certain neuromuscular diseases
    • Gene therapy program in MMA in collaboration with AskBio on track to enter the clinic in the first half of 2021; preliminary data expected in the second half of 2021
    • Phase 3 clinical program of SEL-212 to commence with Sobi in Q3 2020; on track to report topline data from ongoing head-to-head COMPARE trial in Q3 2020
    • Cash runway into the first quarter of 2023
    • Company to host conference call today at 8:30 a.m. ET

    WATERTOWN, Mass., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR, today reported financial results for the second quarter ended June 30, 2020 and provided corporate updates.

    "This is a transformational time for Selecta, as we reinforce our position as a leader in immune tolerance. The strategic licensing agreement with Sobi puts us in a financial position that allows us to maximize efforts to unlock the full potential of the ImmTOR immune tolerance platform, by optimizing the efficacy and safety of biologics, enabling re-dosing of life saving gene therapies, and creating novel immunotherapies for autoimmune diseases," said Carsten Brunn, Ph.D., President and CEO of Selecta. "We remain committed to the development of SEL-212, and look forward to the initiation of the Phase 3 clinical program with Sobi in the third quarter of this year and the topline data readout from the Phase 2 COMPARE trial, also in the third quarter. We also look forward to advancing our gene therapy program in MMA to the clinic in the first half of 2021, and for the submission of an IND for our autoimmune diseases program, also in 2021."

    Recent Highlights and Anticipated Upcoming Milestones:

    • Closed Strategic Licensing Agreement with Sobi for SEL-212, the Company's Phase 3-ready Novel Treatment for Chronic Refractory Gout: The Company announced the closing of a strategic licensing agreement with Sobi for SEL-212, the Company's lead product candidate leveraging the ImmTOR immune tolerance platform. Sobi assumes responsibility for all development, regulatory, and commercial activities, and expenses in all markets outside China, while Selecta will run the Phase 3 study on behalf of Sobi, at Sobi's expense. Selecta will also maintain manufacturing of ImmTOR, for which Sobi will reimburse Selecta for activities relating to SEL-212. The initial payments to Selecta total $100 million. Sobi must pay $75 million in cash as an upfront license fee within 45 days of the effective date and has paid $25 million in cash in a private placement of Selecta common stock at $4.62 per share. Selecta is also eligible to receive potential development, regulatory, and commercial milestone payments of up to $630 million, and tiered double-digit royalties on net sales.

       
    • Entered into Research License and Option Agreement with Sarepta for the Use of ImmTOR in Certain Neuromuscular Diseases: Selecta and Sarepta reached an agreement which provides Sarepta with the option to license the rights to develop and commercialize the ImmTOR platform for use in select neuromuscular diseases; Duchenne muscular dystrophy (DMD) and certain limb-girdle muscular dystrophies (LGMDs). Sarepta will evaluate its investigational gene therapies in combination with ImmTOR to mitigate the formation of neutralizing antibodies. Sarepta has made an initial payment to Selecta, and Selecta is eligible to receive certain pre-clinical milestone fees.

       
    • Two Key Clinical Milestones for SEL-212: Selecta and Sobi anticipate initiating the Phase 3 clinical program in the third quarter of 2020. Selecta will take the lead running the Phase 3 program, at Sobi's expense. The Phase 3 clinical program will consist of two double blinded, placebo-controlled trials of SEL-212. Each trial is expected to enroll 105 patients and have 35 patients receiving 0.1 mg/kg of ImmTOR and 0.2 mg/kg of pegadricase, 35 patients receiving 0.15 mg/kg of ImmTOR and 0.2 mg/kg of pegadricase, and 35 patients receiving placebo. The primary endpoint of the Phase 3 clinical trials is the maintenance of serum uric acid (SUA) levels of <6mg/dL at six months. One of the trials will have a six-month extension. In addition, the Company expects topline results from the Phase 2 COMPARE clinical trial in Q3 2020. This head-to-head study of a once-monthly dose of SEL-212 (ImmTOR + pegadricase) compared to biweekly doses of pegloticase is expected to read out on schedule. The primary endpoint of the COMPARE trial is the maintenance of serum uric acid (SUA) levels of <6mg/dL at three and six months.

       
    • Timeline for Gene Therapy and Autoimmune Diseases Programs Confirmed: The Company's gene therapy program in methylmalonic acidemia, or MMA, in collaboration with AskBio, is expected to enter the clinic in the first half of 2021, with preliminary data expected in 2H 2021. In addition, Selecta intends to submit its Investigational New Drug Application (IND) for its autoimmune disease program in 2021. The first indication will be IgA nephropathy, a kidney disease that occurs when an antibody called immunoglobulin A (IgA) accumulates in the kidneys. The second indication is expected to be primary biliary cholangitis, or PBC, an autoimmune disease that causes progressive destruction of the bile ducts. Both diseases have well-defined target antigens, significant unmet medical need, and are well suited to the application of Selecta's ImmTOR immune tolerance platform.

       
    • Appointed Peter G. Traber, MD, to the Position of Chief Medical Officer: Dr. Traber, who has been serving in the same position in an interim capacity, joined the Company full-time as of August 1, 2020. Dr. Traber has a broad range of experience in large pharma, biotech, and academia, and will oversee medical affairs, program management, and all aspects of clinical development and strategy, as well as provide scientific and clinical guidance for potential business development initiatives.

    Second Quarter 2020 Financial Results:

    • Cash Position: Selecta had $61.4 million in cash, cash equivalents, and restricted cash as of June 30, 2020, which compares to cash, cash equivalents, and restricted cash of $91.6 million as of December 31, 2019. Selecta believes its available cash, cash equivalents, and restricted cash as of June 30, 2020, together with the $25 million payment received from Sobi under the Sobi Private Placement in July and the expected payment from Sobi of $75 million under the Sobi License, which is due 45 days after the effective date, will enable Selecta to fund operating expenses and capital expenditure requirements into the first quarter of 2023.

       
      • Net cash used in operating activities was $23.5 million for the six months ended June 30, 2020, as compared to $27.4 million for the same period in 2019.

         
    • Research and Development Expenses: Research and development expenses for the second quarter 2020 were $10.7 million, which compares with $12.1 million for the same period in 2019. The decrease in costs was primarily the result of reduced expense for the Phase 2 COMPARE trial for SEL-212 offset by increases for the gene therapy program in collaboration with AskBio, and salaries and benefits.

       
    • General and Administrative Expenses: General and administrative expenses for the second quarter 2020 were $5.6 million, which compares with $4.1 million for the same period in 2019. The increase in costs was the result of expenses incurred for salaries, legal and professional fees offset by decreased travel expense.

       
    • Net Loss: For the second quarter 2020, Selecta reported a net loss of $24.1 million, or $0.25 per share, compared to a net loss of $16.4 million, or $0.37 per share, for the same period in 2019.

    Conference Call and Webcast Reminder:

    Selecta management will host a conference call at 8:30 a.m. ET today to provide a corporate update and review the company's second quarter 2020 financial results. Individuals may participate in the live call via telephone by dialing (844) 845-4170 (domestic) or (412) 717-9621 (international) and may access a teleconference replay for one week by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international) and using confirmation code 10138605. Investors and the public can access the live and archived webcast of this call via the Investors & Media section of the company's website, www.selectabio.com.

    About Selecta Biosciences, Inc.

    Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance technology (ImmTOR) platform. Selecta plans to combine ImmTOR with a range of biologic therapies for rare and serious diseases that require new treatment options due to high immunogenicity. The company's current proprietary pipeline includes ImmTOR-powered therapeutic enzyme and gene therapy product candidates. SEL-212, the company's lead product candidate, is being developed to treat chronic refractory gout patients and resolve their debilitating symptoms, including flares and gouty arthritis. Selecta's proprietary gene therapy product candidates are in preclinical development for certain rare inborn errors of metabolism and incorporate ImmTOR with the goal of addressing barriers to repeat administration. Selecta is based in Watertown, Massachusetts. For more information, please visit www.selectabio.com.

    Forward-Looking Statements

    Any statements in this press release about the future expectations, plans and prospects of Selecta Biosciences, Inc. ("the company"), including without limitation, the company's actions regarding the monitoring and assessment of COVID-19 on the company's operations, clinical trials and manufacturing, Sarepta's plans to evaluate its gene therapies in combination with the company's ImmTOR technology, the possibility of Sarepta exercising an option to enter into a commercial license agreement, Sarepta's achievement of any milestones that would trigger payment(s) to Selecta, the unique proprietary technology platform of the company and the unique proprietary platform of its partners, the potential of ImmTOR to enable re-dosing of AAV gene therapy, the ability of the company's ImmTOR platform to unlock the full potential of biologic therapies, the potential treatment applications for product candidates utilizing the ImmTOR platform in areas such as enzyme therapy and gene therapy, the novelty of treatment paradigms that Sarepta is able to develop in combination with the company's ImmTOR technology, the potential of any therapies developed by Sarepta in combination with the company's ImmTOR technology to fulfill unmet medical needs, the company's plan to apply its ImmTOR technology platform to a range of biologics for rare and serious diseases, the clinical development, commercialization, and regulatory activities related to SEL-212 by either the company or Sobi, including with respect to anticipated geographic markets, the anticipated timing of the planned Phase 3 clinical trial, the potential market opportunity for SEL-212, the potential of SEL-212 to fulfill unmet needs in chronic refractory gout patients including sustained SUA reduction, reduced flares, and repeated once monthly dosing, as well as the ability to dose longer than the current standard of care, the company's and Sobi's commercial plans, the expected upfront, milestone, and royalty-based payments to the company under the strategic licensing agreement with Sobi, the company's development of a product candidate to treat an autoimmune indication, including for IgA nephropathy, the timing and execution of company's plans to file an IND for such product candidate,, the potential of the ImmTOR technology platform generally and the company's ability to grow its strategic partnerships, the sufficiency of the company's cash, cash equivalents and short-term investments, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "hypothesize," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, the following: the uncertainties inherent in the initiation, completion and cost of clinical trials including their uncertain outcomes, the effect of the COVID-19 outbreak on any of the company's planned or ongoing clinical trials, manufacturing activities, supply chain and operations, the availability and timing of data from ongoing and future clinical trials and the results of such trials, whether preliminary results from a particular clinical trial will be predictive of the final results of that trial or whether results of early clinical trials will be indicative of the results of later clinical trials, the unproven approach of the company's ImmTOR technology, Sarepta's ability to research and develop therapeutic candidates using the company's ImmTOR technology, undesirable side effects of the company's product candidates, its reliance on third parties to manufacture its product candidates and to conduct its clinical trials as well as the impact of the COVID-19 outbreak on those third parties and their ability to continue their operations, the company's inability to maintain its existing or future collaborations, licenses or contractual relationships, its inability to protect its proprietary technology and intellectual property, management's ability to perform as expected, potential delays in regulatory approvals, Sobi and/or Sarepta's ability to make up-front and milestone payments, the company's business development strategy, the availability of funding sufficient for its foreseeable and unforeseeable operating expenses and capital expenditure requirements, the company's recurring losses from operations and negative cash flows from operations raise substantial doubt regarding its ability to continue as a going concern, substantial fluctuation in the price of its common stock including stock market fluctuations that occur as a result of the COVID-19 outbreak, and other important factors discussed in the "Risk Factors" section of the company's most recent Quarterly Report on Form 10-Q, and in other filings that the company makes with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent the company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The company specifically disclaims any intention to update any forward-looking statements included in this press release.



    Selecta Biosciences, Inc. and Subsidiaries

    Consolidated Balance Sheets

    (Amounts in thousands, except share data and par value)

      June 30, 2020 December 31, 2019
      (Unaudited)  
    Assets    
    Current assets:    
    Cash and cash equivalents $59,730  $89,893 
    Restricted cash 278  279 
    Accounts receivable   5,000 
    Prepaid expenses and other current assets 1,044  1,495 
    Total current assets 61,052  96,667 
    Property and equipment, net 1,301  1,222 
    Right-of-use asset, net 11,474  301 
    Long-term restricted cash 1,379  1,379 
    Total assets $75,206  $99,569 
    Liabilities and stockholders' equity (deficit)    
    Current liabilities:    
    Accounts payable $1,242  $500 
    Accrued expenses 9,308  13,492 
    Loan payable 8,384  18,905 
    Lease liability 1,648  372 
    Deferred revenue 1,928  1,674 
    Total current liabilities 22,510  34,943 
    Noncurrent liabilities:    
    Loan payable, net of current portion 6,449   
    Lease liability 10,120   
    Deferred revenue 16,412  14,680 
    Warrant liabilities 32,767  41,549 
    Total liabilities 88,258  91,172 
    Stockholders' equity (deficit):    
    Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively    
    Common stock, $0.0001 par value; 200,000,000 shares authorized; 100,847,810 and 86,325,547 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 10  9 
    Additional paid-in capital 370,944  348,664 
    Accumulated deficit (379,454) (335,753)
    Accumulated other comprehensive loss (4,552) (4,523)
    Total stockholders' equity (deficit) (13,052) 8,397 
    Total liabilities and stockholders' equity (deficit) $75,206  $99,569 



    Selecta Biosciences, Inc. and Subsidiaries

     Consolidated Statements of Operations and Comprehensive Loss

    (Amounts in thousands, except share data and per share data)

     Three Months Ended June 30, Six Months Ended June 30,
     2020 2019 2020 2019
            
     (Unaudited)
    Grant and collaboration revenue$  $13  $  $23 
    Operating expenses:       
    Research and development10,730  12,134  25,454  19,487 
    General and administrative5,637  4,114  9,735  8,627 
    Total operating expenses16,367  16,248  35,189  28,114 
    Loss from operations(16,367) (16,235) (35,189) (28,091)
    Investment income13  246  253  523 
    Foreign currency transaction (loss), net(42) (10) 40  (40)
    Interest expense(205) (400) (478) (796)
    Change in fair value of warrant liabilities(7,539)   (8,385)  
    Other (expense), net59  5  58  (64)
    Net loss(24,081) (16,394) (43,701) (28,468)
    Other comprehensive loss:       
    Foreign currency translation adjustment31  7  (29) 29 
    Unrealized gain on securities  1    3 
    Total comprehensive loss$(24,050) $(16,386) $(43,730) $(28,436)
            
    Net loss per share:       
    Basic and diluted$(0.25) $(0.37) $(0.46) $(0.68)
    Weighted average common shares outstanding:       
    Basic and diluted96,785,915  44,855,083  95,754,714  41,668,902 



    For Media:


    Joshua R. Mansbach

    Solebury Trout

    +1-646-378-2964

    For Investors:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

     

    Primary Logo

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  3. WATERTOWN, Mass., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced the appointment of Peter G. Traber, MD, to the position of Chief Medical Officer. Dr. Traber has been serving in the same position in an interim capacity, and joins the Company full-time, effective August 1, 2020.

    "Since becoming part of our organization, Peter has brought a wealth of expertise from his experience in large pharma, biotech, and academia that has substantially strengthened our clinical development capabilities, and we are extremely pleased that he will be joining us full-time…

    WATERTOWN, Mass., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced the appointment of Peter G. Traber, MD, to the position of Chief Medical Officer. Dr. Traber has been serving in the same position in an interim capacity, and joins the Company full-time, effective August 1, 2020.

    "Since becoming part of our organization, Peter has brought a wealth of expertise from his experience in large pharma, biotech, and academia that has substantially strengthened our clinical development capabilities, and we are extremely pleased that he will be joining us full-time as Chief Medical Officer," said Carsten Brunn, Ph.D., President and CEO of Selecta. "We're confident that he will play a critical role in elevating the strength of our science and translating it clinically, as we explore new applications for ImmTOR in biologics, gene therapy, and immunotherapies for autoimmune diseases."

    "I am proud to be part of an organization that is pioneering innovations that may advance the treatment of a number of challenging diseases with unmet needs," said Dr. Traber. "Selecta has the capabilities and scientific acumen to become the undisputed leader in targeted and specific immune tolerance, and I'm excited to help advance ImmTOR and explore its role in driving innovation that will ultimately help patients."

    As Chief Medical Officer, Dr. Traber will oversee medical affairs, program management, and all aspects of clinical development and strategy, as well as provide scientific and clinical guidance for potential business development initiatives. He is the founder and president of PGT Life Sciences Consulting, a biopharmaceutical consultancy for which he provides drug development strategy, clinical trial design, and scientific oversight for a broad range of companies. In a previous role, Dr. Traber was the President, Chief Executive Officer, and Chief Medical Officer of Galectin Therapeutics. During his tenure, he successfully built a full drug development team and created the strategy to progress its lead compound forward in multiple indications, including a phase 3-ready program in NASH cirrhosis. Prior to Galectin, he served as the Chief Medical Officer and Senior Vice President, Clinical Development & Medical Affairs at GSK. Previously, he served as the President and CEO of the Baylor College of Medicine, and Chairman of Medicine and CEO of the University of Pennsylvania Health System. His experience also includes managing an academic research laboratory, serving on the editorial boards of medical journals, and he has authored more than 100 research articles, reviews, and book chapters. He received his medical degree from Wayne State University School of Medicine, holds a Bachelor of Science in Chemical Engineering from the University of Michigan, and earned a certificate in Medical Leadership from Wharton Business School. He is currently an Adjunct Professor of Medicine at the University of Pennsylvania and serves on the board of Caladrius Biosciences.  

    About Selecta Biosciences, Inc.

    Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its pioneering immune tolerance platform (ImmTOR™). Selecta is committed to utilizing ImmTOR to potentially improve the efficacy of biologics, enable re-dosing of life-saving gene therapy, and create novel immunotherapies for autoimmune diseases. Selecta's late-stage product candidate, SEL-212, is designed to be a monthly treatment for chronic refractory gout, a debilitating rare disease with a significant unmet medical need. SEL-212 consists of a combination of its ImmTOR platform co-administered with pegadricase, an enzyme designed to treat patients with symptomatic gout, refractory to standard uric acid lowering treatment. Selecta's proprietary gene therapy product candidates are in development for certain rare inborn errors of metabolism and incorporate our ImmTOR platform with the goal of addressing barriers to repeat administration. In addition to our own pipeline of core discovery and clinical candidates, Selecta has established collaborative relationships with leading biopharmaceutical companies, including Asklepios BioPharmaceutical (AskBio) and Sarepta Therapeutics for gene therapy, and Swedish Orphan Biovitrum AB (Sobi™) for SEL-212. Selecta is based in Watertown, Massachusetts. For more information, please visit www.selectabio.com.

    Forward-Looking Statements:

    Any statements in this press release about the future expectations, plans and prospects of Selecta Biosciences, Inc. ("the company"), including without limitation, Dr. Traber's responsibilities and duties at the company, the development of product candidates in biologics, gene therapy and immunotherapies for autoimmune diseases, the development and potential of ImmTOR generally, the ability of any of the company's products to satisfy unmet medical needs, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "hypothesize," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, the following: the uncertainties inherent in the initiation, completion and cost of clinical trials including their uncertain outcomes, the effect of the COVID-19 outbreak on any of the company's planned or ongoing clinical trials, manufacturing activities, supply chain and operations, the availability and timing of data from ongoing and future clinical trials and the results of such trials, Dr. Traber's ability to perform as expected, and other important factors discussed in the "Risk Factors" section of the company's most recent Quarterly Report on Form 10-Q, and in other filings that the company makes with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent the company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The company specifically disclaims any intention to update any forward-looking statements included in this press release.

    For Media:

    Joshua R. Mansbach

    Solebury Trout

    +1-646-378-2964

    For Investors:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

    Primary Logo

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  4. WATERTOWN, Mass., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced that Selecta's Chief Executive Officer, Carsten Brunn, Ph.D., is scheduled to participate virtually in the following investor conferences in August:

    William Blair Biotech Focus Conference
    Date: Thursday, August 6, 2020
    Panel: 1:00 p.m. ET

    Canaccord Genuity 40th Annual Growth Conference
    Date: Thursday, August 13, 2020
    Fireside chat: 2:30 p.m. ET

    Live webcasts will be available in the Investors & Media section of the company's website at www.selectabio.com.

    About Selecta Biosciences,

    WATERTOWN, Mass., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform, ImmTOR™, today announced that Selecta's Chief Executive Officer, Carsten Brunn, Ph.D., is scheduled to participate virtually in the following investor conferences in August:

    William Blair Biotech Focus Conference

    Date: Thursday, August 6, 2020

    Panel: 1:00 p.m. ET

    Canaccord Genuity 40th Annual Growth Conference

    Date: Thursday, August 13, 2020

    Fireside chat: 2:30 p.m. ET

    Live webcasts will be available in the Investors & Media section of the company's website at www.selectabio.com.

    About Selecta Biosciences, Inc.

    Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its pioneering immune tolerance platform (ImmTOR™). Selecta is committed to utilizing ImmTOR to potentially improve the efficacy of biologics, enable re-dosing of life-saving gene therapy, and create novel immunotherapies for autoimmune diseases. Selecta's late-stage product candidate, SEL-212, is designed to be a monthly treatment for chronic refractory gout, a debilitating rare disease with a significant unmet medical need. SEL-212 consists of a combination of its ImmTOR platform co-administered with pegadricase, an enzyme designed to treat patients with symptomatic gout, refractory to standard uric acid lowering treatment. Selecta's proprietary gene therapy product candidates are in development for certain rare inborn errors of metabolism and incorporate our ImmTOR platform with the goal of addressing barriers to repeat administration. In addition to our own pipeline of core discovery and clinical candidates, Selecta has established collaborative relationships with leading biopharmaceutical companies, including Asklepios BioPharmaceutical (AskBio) and Sarepta Therapeutics for gene therapy, and Swedish Orphan Biovitrum AB (Sobi™) for SEL-212. Selecta is based in Watertown, Massachusetts. For more information, please visit www.selectabio.com.

    Forward-Looking Statements

    This press release, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Selecta's plan to participate in upcoming investor conferences. All such forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Such risks and uncertainties include but are not limited to the material impact, if any, of the COVID-19 outbreak on the Company's operations, including supply chain and clinical trials, other COVID-19 related risks and those set forth in the "Risk Factors" section of Selecta's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, for the quarter ended March 31, 2020, and in other filings that Selecta makes with the SEC. In addition, any forward-looking statements included in this press release represent Selecta's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Selecta specifically disclaims any obligation to update any forward-looking statements included in this press release.

    For Media:

    Joshua R. Mansbach

    Solebury Trout

    +1-646-378-2964

    For Investors:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

    Primary Logo

    View Full Article Hide Full Article
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