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Mar 31, 2025
Seres Therapeutics Q1 2025 Earnings Report
Seres Therapeutics reported first quarter 2025 financial results and provided business updates.
Key Takeaways
Seres Therapeutics reported a net income of $32.7 million for the first quarter of 2025, a significant improvement from a net loss of $32.9 million in the same period last year, primarily driven by a $50.0 million installment payment from Nestlé. The company also made significant progress in advancing SER-155, including plans to submit a Phase 2 study protocol to the FDA.
Net income from continuing operations was $32.7 million for Q1 2025, compared to a net loss of $32.9 million in Q1 2024.
Research and development (R&D) expenses decreased to $11.8 million in Q1 2025 from $19.5 million in Q1 2024.
General and administrative (G&A) expenses decreased to $11.9 million in Q1 2025 from $14.9 million in Q1 2024.
The company expects to submit a Phase 2 study protocol for SER-155 to the FDA in the coming weeks.
Forward Guidance
Seres Therapeutics anticipates submitting a Phase 2 study protocol for SER-155 to the FDA in the coming weeks and expects to receive a $25 million installment payment from Nestlé in July 2025. The company expects to fund operations into the first quarter of 2026.
Positive Outlook
- Submission of SER-155 Phase 2 study protocol to FDA in the coming weeks.
- Anticipated receipt of $25 million installment payment from Nestlé in July 2025.
- Expectation to fund operations into the first quarter of 2026 based on current cash and anticipated payments.
- Presentation of additional SER-155 clinical results at ASCO 2025 conference.
- Continued strategic partnership discussions for SER-155 development.
Challenges Ahead
- Additional capital is required to support the SER-155 Phase 2 study.
- The company has incurred significant losses and is not currently profitable.
- The expected payments from the VOWST sale are subject to risks and uncertainties.
Historical Earnings Impact
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