Selecta Biosciences Stock Is Trading Lower After Gaining Total Rights To MMA Program From AskBio

Based on an internal strategic review and prioritization of its portfolio, Asklepios BioPharmaceutical Inc (AskBio) has decided to give all rights of methylmalonic acidemia (MMA) to Selecta Biosciences Inc SELB.
MMA program includes gene therapy candidate MMA-101 and ImmTOR for the treatment of methylmalonic acidemia (MMA).
Due to a manufacturing issue related to a component sourced from a third party, Selecta now expects that submission of the IND for MMA-101 and ImmTOR will be delayed until the end of this year.
The dose-escalation trial of SEL-399, an adeno-associated viral serotype 8 (AAV8) empty vector capsid (EMC-101) containing no DNA combined with ImmTOR, is currently underway.
The study, being conducted in healthy volunteers, is designed to evaluate the safety and preliminary efficacy of ImmTOR in gene therapy.
Topline data expected in the fourth quarter of this year.
Price Action: SELB shares are down 16.3% at $3.26 during market trading hours on the last check Thursday.