Seres Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 11:00 am
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Seres Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.31 million compared to USD 3.44 million a year ago. Net loss was USD 47.85 million compared to USD 60 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to USD 0.49 a year ago.
For the nine months, revenue was USD 126.26 million compared to USD 6.15 million a year ago. Net loss was USD 72.48 million compared to USD 181.36 million a year ago. Basic loss per share from continuing operations was USD 0.57 compared to USD 1.77 a year ago.
Seres Therapeutics, Inc. is a commercial-stage microbiome therapeutics company. It is focused on the development and commercialization of a novel class of biological drugs, which are designed to treat disease by modulating the microbiome to restore health by repairing the function of a disrupted microbiome to a non-disease state. Its lead program, VOWST, is to prevent recurrence of Clostridioides difficile infection (CDI) in patients 18 or older following antibacterial treatment for recurrent CDI. Building upon VOWST, it is developing novel microbiome therapeutics, such as SER-155, to specifically target infections and antimicrobial resistance. SER-155, an oral microbiome therapeutic candidate consisting of a consortium of cultivated bacteria, is designed to prevent enteric-derived infections and resulting blood stream infections and induce immune tolerance responses to reduce the incidence of GvHD in patients undergoing allogeneic hematopoietic stem cell transplantation (allo-HSCT).