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Sep 30, 2022
Sera Prognostics Q3 2022 Earnings Report
Reported third quarter 2022 financial results, showing increased revenue and operating expenses.
Key Takeaways
Sera Prognostics reported increased revenue for the third quarter of 2022, reaching $87,000 compared to $23,000 in the same period of 2021. However, the company experienced a net loss of $10.7 million, slightly higher than the $9.9 million loss in the third quarter of the previous year. The company's cash, cash equivalents, and available-for-sale securities totaled approximately $111.2 million as of September 30, 2022.
Revenue increased to $87,000 in Q3 2022 from $23,000 in Q3 2021.
Operating expenses rose to $11.3 million, up from $9.5 million in the same quarter last year.
Net loss for the quarter was $10.7 million, compared to $9.9 million in the prior year.
Cash, cash equivalents, and available-for-sale securities amounted to $111.2 million as of September 30, 2022.
Sera Prognostics
Sera Prognostics
Forward Guidance
Sera Prognostics anticipates revenue contributions from integrated healthcare systems as early as Q4 2022, with more significant impacts expected in 2023 and beyond. The company also anticipates the public release of validation data for preeclampsia risk prediction by the end of 2022 and expects an interim look analysis from the PRIME study in 2023.
Positive Outlook
- Integrated healthcare systems starting to show success.
- Additional contracts with new self-insured employer plans executed.
- Clinical utility data anticipated to be made public in 2023.
- Validation of preeclampsia risk prediction expected by year-end 2022.
- PRIME study enrollment continuing to enable interim look analysis in 2023.