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Mar 31, 2023
Sera Prognostics Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023.
Key Takeaways
Sera Prognostics reported first quarter 2023 revenue of $100,000, compared to $38,000 for the same period in 2022. The net loss for the quarter was $10.6 million, an improvement over the $12.2 million loss in the first quarter of the previous year. The company had $100 million in cash, cash equivalents, and available-for-sale securities as of March 31, 2023.
Announced positive top-line results from the AVERT PRETERM TRIAL.
Physician orders increased in Q1 2023 compared to Q1 2022.
PRIME study subject enrollment continues, with the interim look analysis anticipated by year-end.
Anticipate submission this summer of new compelling data for scientific review for publication.
Forward Guidance
The company anticipates the PRIME study interim look analysis to take place by year-end and plans to submit new compelling data for scientific review this summer. They expect the publication of AVERT data to drive physician and healthcare institution adoption of the PreTRM test-and-treat strategy and anticipate additional clinical utility information to catalyze the expansion of PreTRM Test use and revenue increase.
Positive Outlook
- PRIME study interim look analysis anticipated by year-end.
- Submission of new compelling data for scientific review this summer.
- Publication of AVERT data to drive physician and healthcare institution adoption.
- Additional clinical utility information expected to catalyze PreTRM Test use expansion.
- Anticipate increase in revenue with expanded use of PreTRM Test.
Challenges Ahead
- Net losses and the potential need to raise more capital.
- Revenues from the PreTRM Test representing substantially all Company revenues to date.
Historical Earnings Impact
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