Gout drug becomes sole focus for cash-strapped Selecta
US biotech Selecta Biosciences (Nasdaq: SELB) is to freeze investment on all pipeline assets except SEL-212, which is being developed for the treatment of chronic refractory gout.
In order to preserve capital, Selecta will focus on maximizing the value of its pipeline through potential licensing and corporate development activities. It is hoped that this will extend its cash runway into 2027.
"The potential to exceed $700 million in peak sales in the USA"The company’s cash and equivalents combined to make $115 million as of June 30, 2023.
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