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Jun 30, 2024
Sera Prognostics Q2 2024 Earnings Report
Sera Prognostics' financial results for Q2 2024 were announced, showing a decrease in revenue but also a reduction in operating expenses and net loss.
Key Takeaways
Sera Prognostics reported a decrease in revenue for the second quarter of 2024, but also saw a reduction in operating expenses and a narrower net loss compared to the same period in the previous year.
Second quarter revenue was $24,000, compared to $123,000 for the same period in 2023.
Total operating expenses decreased by 20% to $9.3 million from $11.5 million in the second quarter of 2023.
Net loss was $8.3 million, a 21% improvement compared to a net loss of $10.5 million for the same quarter a year ago.
Research and development expenses increased by 19% to $4.4 million due to new product development activities.
Forward Guidance
The company anticipates final PRIME database lock in mid-September and publication in time for key pregnancy and maternal health conferences in the spring. They are also executing cost-effective programs to educate patients and physicians on the PreTRM® Test and working to support the establishment of care guidelines.
Positive Outlook
- Final PRIME database lock anticipated mid-September.
- PRIME publication in time for key pregnancy and maternal health conferences in the spring.
- Executing cost-effective programs to educate patients and physicians on the PreTRM® Test.
- Supporting the establishment of care guidelines.
- Conditional approval received from New York State on ambient whole-blood collection, allowing Sera to complete nationwide rollout of new blood collection method.
Challenges Ahead
- Net losses and 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.
Historical Earnings Impact
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