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Dec 31, 2024
Seres Therapeutics Q4 2024 Earnings Report
Seres Therapeutics reported a significant reduction in net loss, driven by lower operating expenses following the sale of its VOWST business.
Key Takeaways
Seres Therapeutics' Q4 2024 revenue was classified under discontinued operations due to the sale of its VOWST business. The company reported a net loss of $15.7 million, a significant improvement from the $34.7 million loss in Q4 2023. Operating expenses decreased as the company streamlined its focus on SER-155. Cash and cash equivalents stood at $30.8 million, with additional funding expected from Nestlé in mid-2025.
Net loss improved to $15.7 million from $34.7 million in Q4 2023.
Cash and cash equivalents stood at $30.8 million as of year-end.
Significant reduction in R&D expenses to $12.8 million, down from $23.0 million in Q4 2023.
Company expects to fund operations into Q1 2026 with existing cash and upcoming Nestlé payments.
Seres Therapeutics
Seres Therapeutics
Forward Guidance
Seres plans to focus on advancing its SER-155 clinical program while seeking strategic partnerships to support its development. Additional funding from Nestlé will extend its cash runway into early 2026.
Positive Outlook
- Expecting a $25 million payment from Nestlé in mid-2025.
- Reduced operating expenses following VOWST business sale.
- SER-155 Phase 2/3 trial planning underway, with FDA engagement in Q2 2025.
- Exploring additional partnerships to accelerate SER-155 commercialization.
- Cash reserves and expected payments sufficient to fund operations into Q1 2026.
Challenges Ahead
- No revenue reported for Q4 2024 due to VOWST sale.
- Continued operating losses despite expense reductions.
- R&D expenses remain significant, impacting profitability.
- Market uncertainty surrounding SER-155 commercialization timeline.
- Reliance on external partnerships for funding and development progression.