Sera Prognostics Q1 2024 Earnings Report
Key Takeaways
Sera Prognostics reported a decrease in revenue due to adjustments related to old accounts, resulting in net revenue of nil for Q1 2024. However, the company reduced operating expenses by 20% and narrowed its net loss by 24%. They are focusing on future revenue growth through data publication, new commercial opportunities, and international market exploration.
Submitted manuscript of PRIME study interim analysis results for peer-reviewed publication.
Shipped first ambient whole blood collection kits, expected to reduce cost of goods sold and increase lab processing capacity.
Collaborating on state implementation programs to promote health equity and improve pregnancy care.
Exploring attractive international markets with a significant number of premature births.
Sera Prognostics
Sera Prognostics
Forward Guidance
Sera Prognostics is focused on future revenue growth, margin improvement, and efficient test processing.
Positive Outlook
- New ambient whole blood collection kits are expected to reduce cost of goods sold.
- New ambient whole blood collection method allows access to more patients.
- Exploring growth opportunities where PreTRM can make a sizeable difference.
- Data submission for publication is expected to enhance the evidence portfolio.
- Targeted state implementation programs to promote health equity.
Challenges Ahead
- Revenue for the quarter was impacted by revenue adjustments related to old accounts.
- Need for broad scientific and market acceptance of the PreTRM Test.
- Revenues from the PreTRM Test representing substantially all Company revenues to date.
- Potential third-party payer coverage and reimbursement.
- Potential competition.