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Selecta Biosciences Announces Fourth Quarter and Full Year 2022 Financial Results and Business Update

Selecta Biosciences, Inc., a clinical-stage biopharmaceutical company, recently announced its fourth quarter and full year 2022 financial results and business update. The company reported a total revenue of $1.5 million for the fourth quarter of 2022, an increase of 17% from the same period in 2021.

For the full year 2022, Selecta reported total revenue of $5.6 million, a decrease of 8% from the prior year. The company also reported a net loss of $31.7 million for the full year 2022, compared to a net loss of $35.3 million in 2021.

Business Update

Selecta is focused on developing novel therapies for rare and complex diseases. The company’s lead product candidate, SEL-212, is a novel, first-in-class therapy for the treatment of chronic refractory gout. SEL-212 is currently in Phase 3 clinical trials and is expected to be submitted for regulatory approval in the United States and Europe in the second half of 2022.

In addition, Selecta is developing SEL-403, a novel, first-in-class therapy for the treatment of chronic refractory osteoarthritis. SEL-403 is currently in Phase 2 clinical trials and is expected to enter Phase 3 clinical trials in the second half of 2022.

Outlook

Selecta is focused on advancing its product candidates, SEL-212 and SEL-403, through clinical development and preparing for potential commercial launch. The company is also exploring strategic opportunities to expand its pipeline and drive long-term growth.

Summary: Selecta Biosciences, Inc. recently announced its fourth quarter and full year 2022 financial results and business update. The company reported total revenue of $1.5 million for the fourth quarter of 2022 and $5.6 million for the full year 2022. Selecta is focused on developing novel therapies for rare and complex diseases, including SEL-212 and SEL-403, which are currently in clinical trials. The company is also exploring strategic opportunities to expand its pipeline and drive long-term growth. #SelectaBiosciences #FinancialResults #BusinessUpdate #SEL212 #SEL403