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Dec 31, 2023
Seres Therapeutics Q4 2023 Earnings Report
Reported fourth quarter and full year 2023 financial results and provided business updates.
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.
Named to “TIME 100 Most Influential Companies” list.
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.
Historical Earnings Impact
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