SERA PROGNOSTICS REPORTS FOURTH QUARTER 2024 FINANCIAL RESULTS
Rhea-AI Summary
Sera Prognostics (NASDAQ: SERA) announced its Q4 and full-year 2024 financial results, highlighting significant clinical achievements and financial developments. The company's PRIME study demonstrated promising results, showing a 25% reduction in neonatal morbidity and mortality index and an 18% reduction in neonatal hospital stay.
Financial highlights include: Q4 2024 revenue of $24,000 (down from $41,000 in Q4 2023), with operating expenses of $9.4 million (up 6% YoY). Full-year 2024 revenue was $77,000 (down from $306,000 in 2023), while net loss improved to $32.9 million (from $36.2 million in 2023).
The company successfully raised $57.5 million through a public offering in February 2025, extending its cash runway through 2028. As of December 31, 2024, Sera held $68.2 million in cash and equivalents. The funds will support US commercial expansion, European market preparation, and additional studies for their PreTRM test.
Positive
- PRIME study showed 25% reduction in neonatal morbidity/mortality index
- Successfully raised $57.5M extending cash runway through 2028
- Operating expenses decreased to $36.7M in 2024 from $40.1M in 2023
- Net loss improved by $3.3M year-over-year
Negative
- Q4 2024 revenue declined 41% to $24,000 from $41,000 in Q4 2023
- Full year 2024 revenue dropped 75% to $77,000 from $306,000 in 2023
- Q4 operating expenses increased 6% year-over-year to $9.4M
- SG&A expenses in Q4 2024 increased to $6.3M from $5.0M in Q4 2023
News Market Reaction – SERA
On the day this news was published, SERA declined 5.07%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Recent Highlights:
- On January 6, 2025, the Society for Maternal Fetal Medicine ("SMFM") published an abstract reporting topline results for Sera's Prematurity Risk Assessment Combined With Clinical Interventions for Improving Neonatal outcoMEs ("PRIME") study.
- Results of the PRIME study were also accepted as a late-breaking abstract for oral podium presentation at the SMFM 2025 Pregnancy Meeting™ on January 31, 2025, widely considered the world's leading conference on the subject of pregnancy. During this event, Dr. Brian Iriye – maternal-fetal medicine expert at the High Risk Pregnancy Center in
Las Vegas, Nevada , and principal investigator for the PRIME study – presented the results of the full PRIME study. Among other notable results, the study showed that both primary outcomes met success criteria, showing a25% reduction in neonatal morbidity and mortality index (NMI) and an18% reduction in neonatal length of hospital stay among the pre-specified modified intent-to-treat population. Further, the study showed a20% reduction in NMI and22% reduction in NICU admissions among a broader intent-to-treat population. - The Company also hosted a virtual R&D day in conjunction with the SMFM Pregnancy Meeting further showcasing results of the PRIME study. During these events, Dr. Iriye shared a presentation illustrating several key findings about the performance of Sera's PreTRM® test-and-treat strategy.
- The Company raised
$57.5 million - Leveraging proceeds from this fundraise, Sera will begin expanding its commercial efforts in selected geographies in
the United States , partnering with selected payers and providers to drive adoption of its PreTRM test; accelerating preparations for expansion in the European Union; and funding additional studies designed to further increase adoption, including a potential submission to theU.S. FDA seeking broad approval of the PreTRM test.
"We are pleased with our progress during the year and, more recently, with the results of our full PRIME study," said Zhenya Lindgardt, President and CEO of Sera Prognostics. "We are also thankful to our investors for supporting our fundraise last month, which we believe will promote our mission to mitigate the societal and healthcare costs of spontaneous premature birth and afford better outcomes for moms and babies by helping us drive adoption of our technology."
Fourth Quarter 2024 Financial Results
Fourth quarter 2024 revenue was
Total operating expenses were
Research and development expenses for the fourth quarter of 2024 were
Selling, general and administrative expenses for the fourth quarter of 2024 were
Net loss for the quarter was
Full Year 2024 Financial Results
Total full year 2024 revenue was
Total operating expenses were
Research and development expenses for 2024 were
Selling, general and administrative expenses for 2024 were
Net loss for 2024 was
As of December 31, 2024, the Company had cash, cash equivalents, and available-for-sale securities of approximately
Conference Call Information
Sera Prognostics will host a corresponding conference call and live webcast today to discuss fourth quarter and full year 2024 operational highlights, financial results and key topics at 5:00 p.m. Eastern Time. Individuals interested in listening to the conference call may do so by dialing the following:
US domestic callers: (800) 836-8184
International callers: (646) 357-8785
Webcast Registration Link: https://app.webinar.net/2velx8K3AMB
Live audio of the webcast will be available online from the Investors page of the Company's website at www.sera.com. The webcast will be archived on the Investors page and will be available for one year.
About Sera Prognostics, Inc.
Sera Prognostics is a leading health diagnostics company dedicated to improving the lives of women and babies through precision pregnancy care. Sera's mission is to provide early, pivotal pregnancy information to improve the health of mothers and newborns, resulting in reductions in the costs of healthcare delivery. Sera has a robust pipeline of innovative diagnostic tests focused on the early prediction of preterm birth risk and other complications of pregnancy. Sera's precision medicine PreTRM® Test reports to a physician the individualized risk of spontaneous premature delivery in a pregnancy, enabling earlier proactive interventions in women with higher risk. Sera Prognostics is headquartered in
About Preterm Birth
Preterm birth is defined as any birth before 37 weeks' gestation and is the leading cause of illness and death in newborns. The 2024 March of Dimes Report Card shows that, for the last six consecutive years, more than one in ten infants is born prematurely in
About the PreTRM® Test
The PreTRM® Test is the only broadly validated, commercially available blood-based biomarker test that provides an early, accurate and individualized risk prediction for spontaneous preterm birth in asymptomatic singleton pregnancies. The PreTRM® Test measures and analyzes proteins in the blood that are highly predictive of preterm birth. The PreTRM® Test permits physicians to identify, during the weeks 18 through 20 of pregnancy, which women are at increased risk for preterm birth and its complications, enabling more informed, personalized clinical decisions based on each woman's individual risk. The PreTRM® Test is ordered by a medical professional.
Sera, Sera Prognostics, the Sera Prognostics logo, The Pregnancy Company, and PreTRM are trademarks or registered trademarks of Sera Prognostics, Inc. in the United States and/or other countries.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to extending the Company's cash runway through 2028; the Company's use of net proceeds from its capital raise offering; the Company expanding its commercial efforts in selected geographies in
SERA PROGNOSTICS, INC. Condensed Statements of Operations (unaudited) (in thousands, except share and per share data) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenue | $ | 24 | $ | 41 | $ | 77 | $ | 306 | ||||||||
Operating expenses: | ||||||||||||||||
Cost of revenue | 32 | 24 | 82 | 210 | ||||||||||||
Research and development | 3,139 | 3,895 | 14,730 | 15,225 | ||||||||||||
Selling and marketing | 2,264 | 1,304 | 5,771 | 8,349 | ||||||||||||
General and administrative | 4,012 | 3,666 | 16,129 | 16,343 | ||||||||||||
Total operating expenses | 9,447 | 8,889 | 36,712 | 40,127 | ||||||||||||
Loss from operations | (9,423) | (8,848) | (36,635) | (39,821) | ||||||||||||
Interest expense | (6) | (11) | (28) | (55) | ||||||||||||
Other income, net | 850 | 934 | 3,765 | 3,634 | ||||||||||||
Net loss | $ | (8,579) | $ | (7,925) | $ | (32,898) | $ | (36,242) | ||||||||
Net loss per share, basic and diluted | $ | (0.25) | $ | (0.25) | $ | (0.99) | $ | (1.16) | ||||||||
Weighted-average shares outstanding, basic and diluted | 33,939,458 | 31,414,446 | 33,156,936 | 31,200,652 | ||||||||||||
SERA PROGNOSTICS, INC. Condensed Balance Sheets (unaudited) (in thousands) | ||||||||
December 31, | ||||||||
2024 | 2023 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 4,043 | $ | 3,880 | ||||
Marketable securities | 42,193 | 45,199 | ||||||
Accounts receivable | 34 | 160 | ||||||
Other receivables | 19 | 11,310 | ||||||
Prepaid expenses and other current assets | 1,311 | 795 | ||||||
Total current assets | 47,600 | 61,344 | ||||||
Property and equipment, net | 1,239 | 1,999 | ||||||
Long-term marketable securities | 21,973 | 30,841 | ||||||
Intangible assets, net | 1,026 | — | ||||||
Other assets | 737 | 1,257 | ||||||
Total assets | $ | 72,575 | $ | 95,441 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 1,969 | $ | 1,046 | ||||
Accrued and other current liabilities | 2,384 | 2,722 | ||||||
Finance lease obligation, current portion | 194 | 440 | ||||||
Deferred revenue | 20,223 | 20,235 | ||||||
Total current liabilities | 24,770 | 24,443 | ||||||
Finance lease obligation, net of current portion | 2 | 196 | ||||||
Operating lease obligation, net of current portion | — | 644 | ||||||
Total liabilities | 24,772 | 25,283 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Common stock, Class A and Class B | 3 | 3 | ||||||
Additional paid-in capital | 327,534 | 317,066 | ||||||
Accumulated other comprehensive income (loss) | 60 | (15) | ||||||
Accumulated deficit | (279,794) | (246,896) | ||||||
Total stockholders' equity | 47,803 | 70,158 | ||||||
Total liabilities and stockholders' equity | $ | 72,575 | $ | 95,441 | ||||
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SOURCE Sera Prognostics, Inc.
FAQ
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