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Jun 30, 2022
Sera Prognostics Q2 2022 Earnings Report
Sera Prognostics' financial results for Q2 2022 were announced, highlighting a revenue increase compared to the same period last year and ongoing efforts to expand the adoption of the PreTRM® Test.
Key Takeaways
Sera Prognostics reported a revenue of $78,000 for the second quarter of 2022, compared to $20,000 for the same period in 2021. The company's net loss for the quarter was $11.5 million, and they had approximately $121 million in cash, cash equivalents, and available-for-sale securities as of June 30, 2022.
Revenue increased to $78,000 in Q2 2022 from $20,000 in Q2 2021.
Operating expenses rose to $11.8 million, compared to $7.4 million in the same quarter last year.
Net loss for the quarter was $11.5 million, up from $6.3 million year-over-year.
The company had approximately $121 million in cash, cash equivalents, and available-for-sale securities as of June 30, 2022.
Sera Prognostics
Sera Prognostics
Forward Guidance
The company anticipates additional clinical and health economic publications that further illustrate the clinical utility and benefit of PreTRM® technology, supporting the achievement of their vision to improve the well-being of mothers and newborns and decreasing healthcare costs. The Company extending its operations into 2026 without the need for additional financing.
Positive Outlook
- Healthcare systems aligning on incorporating PreTRM testing as an add-on to comprehensive services provided to pregnant women.
- Expanded adoption of the PreTRM® Test
- Demonstrable progress in contracting with self-insured employers
- Additional clinical and health economic publications that further illustrate the clinical utility and benefit of PreTRM® technology
- The Company extending its operations into 2026 without the need for additional financing
Challenges Ahead
- Net losses
- Cash generation
- The 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