Selecta rises on Phase II gout readout

Selecta Biosciences Inc. (NASDAQ:SELB) rose $1.57 (10%) to $18.09 on Thursday after it revealed data from an ongoing Phase II trial of SEL-212 to treat chronic, severe gout, the company's most advanced program. Next year, the company plans to start a Phase III trial of the non-immunogenic combination of pegsiticase (SEL-037) and SVP-Rapamycin (SEL-110).

The company said that within the first month of treatment, gout flares occurred in 15% of patients receiving SEL-212 vs. 50% of patients receiving pegsiticase alone. Reports of gout flares in the SEL-212 group declined further in the following months. The trial had dosed 60 patients by June 12...