Biotech
The Great Biotech Re-Shoring: Seres Therapeutics and the New Commodity-Driven Era
As the final weeks of 2025 unfold, the biotechnology sector is undergoing a fundamental transformation, shifting from a pure-play innovation market to one increasingly dictated by the "physical" economy. Seres Therapeutics (NASDAQ: MCRB), once a pioneer in the microbiome space, has become a bellwether for this transition. Following