Selecta Biosciences (SELB) is trading 31% higher at $2.16 today. The share price is rising on a very strong earnings beat. The company released earnings for Q2 2022 yesterday on 8/4/22.
The company's earnings results beat analysts' estimates by nearly double. Licensing revenue nearly doubled to roughly $40M. The company also noted it was sitting on a war-chest of more than $140M in cash.
Selecta Biosciences has been trading between a 52-week high of $4.7 and a 52-week low of $0.6469. The stock has a market cap of $328 Million.
Selecta Biosciences Inc. is leveraging its clinically validated ImmTOR™ platform to develop tolerogenic therapies that selectively mitigate unwanted immune responses. With a proven ability to induce tolerance to highly immunogenic proteins, ImmTOR has the potential to amplify the efficacy of biologic therapies, including redosing of life-saving gene therapies, as well as restore the body's natural self-tolerance in autoimmune diseases.