Seres Therapeutics Q4 2023 Earnings Report
Key Takeaways
Seres Therapeutics reported VOWST net sales of $10.4 million for the fourth quarter of 2023. The company's net loss for the quarter was $41.2 million, as compared to a net loss of $68.8 million for the same period in 2022.
VOWST net sales were $10.4 million for the fourth quarter of 2023.
2,833 patient enrollment forms received and 2,015 new patient starts since VOWST launch in June through year-end 2023.
SER-155 Phase 1b placebo-controlled Cohort 2 clinical data anticipated in third quarter of 2024.
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Seres Therapeutics
Seres Therapeutics
Forward Guidance
Seres anticipates that its year-end cash balance, in conjunction with the planned savings from the restructuring announced in November 2023 and, assuming continued quarter-over-quarter revenue growth of VOWST, the expected receipt of the $45 million Tranche B will support its operations into the fourth quarter of 2024.
Positive Outlook
- Expansion of the number of HCPs prescribing VOWST as a result of new efforts scaled by Nestlé Health Science in Q4 2023 such as strengthened promotional campaigns and expanded reach of digital promotion.
- Increase VOWST utilization earlier in the treatment paradigm including in patients experiencing their first recurrence.
- Maintenance of strong patient access and expansion of payer coverage for VOWST across Commercial and Medicare Part D plans.
- Increase penetration of the hospital outflow patient segment.
- SER-155 Phase 1b placebo-controlled Cohort 2 data readout anticipated in third quarter of 2024.