Sera Prognostics Q1 2022 Earnings Report
Key Takeaways
Sera Prognostics reported first quarter 2022 revenue of $38,000, compared to $13,000 for the same period in 2021. The net loss for the quarter was $12.2 million, compared to $6.4 million for the same quarter a year ago. As of March 31, 2022, the Company had cash and cash equivalents of approximately $64.1 million.
Simplified and streamlined the PreTRM® test ordering process, resulting in increased numbers of orders and ordering physicians.
Added Dr. Jane F. Barlow to the Board, bringing expertise in bringing novel products and services to the market.
Engaged in active dialogue with government officials and organizations to reduce healthcare disparities among underserved communities by utilizing our PreTRM® Test.
Continued pipeline progress including final validation of the first mid-pregnancy proteomic prognostic biomarker for preeclampsia by mid-year 2022.
Sera Prognostics
Sera Prognostics
Forward Guidance
Sera Prognostics is focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients.
Positive Outlook
- Increased numbers of orders and ordering physicians are continuing into the current quarter.
- The preeclampsia test is expected to be validated around mid-year 2022.
- Growing recognition of the benefit of PreTRM among and increased adoption with payors, care providers and patients.
- Additional clinical utility and health economic data the Company expects to share later this month.
- The PRIME study is on track for interim readout in 2023.
Challenges Ahead
- Net losses and potential need to raise more capital.
- Revenues from the PreTRM test representing substantially all Company revenues to date.
- The need for broad scientific and market acceptance of the PreTRM test.
- Potential third-party payer coverage and reimbursement.
- Changes in FDA regulation of laboratory-developed tests.