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Jun 30
Sera Prognostics Q2 2025 Earnings Report
Sera Prognostics reported Q2 2025 revenue of $17K and a net loss of $8.0M as it continued investments toward commercialization following the PRIME study.
Key Takeaways
In Q2 2025, Sera Prognostics generated $17K in revenue, down from $24K a year earlier. Operating expenses were $9.3M, flat year-over-year, with lower R&D costs offset by higher selling and marketing expenses. The company reported a net loss of $8.0M, or $0.16 per share. Cash, cash equivalents, and available-for-sale securities totaled $108.5M, expected to fund operations through 2028.
Revenue declined to $17K from $24K in Q2 2024.
R&D expenses decreased 24% year-over-year to $3.3M due to lower clinical study costs post-PRIME study completion.
Selling and marketing expenses rose to $1.8M from $1.1M, reflecting targeted commercial investments.
Cash, cash equivalents, and available-for-sale securities totaled $108.5M, providing runway through 2028.
Sera Prognostics
Sera Prognostics
Forward Guidance
Sera Prognostics plans to publish full PRIME study results in 2025, followed by additional data supporting health economic benefits and cost savings for Medicaid, with a focus on expanding commercialization and revenue growth.
Positive Outlook
- Anticipated publication of PRIME study results this year.
- Planned release of additional data on health economic benefits and sub-population analysis.
- Engagement with Medicaid plans in targeted high-opportunity states.
- Leadership team strengthened with key commercial and investor relations hires.
- Cash runway projected through significant adoption milestones into 2028.
Challenges Ahead
- Revenue remains minimal as commercialization ramp is ongoing.
- Net losses continue, totaling $8.0M in Q2 2025.
- Selling and marketing expenses increased as investments accelerate.
- Dependence on PreTRM test for substantially all revenue.
- Regulatory and reimbursement uncertainties could impact adoption.