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Sera Prognostics | 10-K: Annual report

SEC announcement ·  Mar 20 16:14
Summary by Moomoo AI
Sera Prognostics, a women's health company, reported a net loss of $36.2 million for the year ended December 31, 2023, an improvement from the $44.2 million net loss in 2022. The company's revenue slightly increased to $306,000 in 2023 from $268,000 in 2022. Operating expenses saw a decrease, with selling and marketing expenses dropping by $6.4 million due to a strategic shift towards institutional sales and a focus on generating additional clinical data. Research and development expenses increased by $981,000, primarily due to heightened activity in the PRIME study. Sera Prognostics has not paid dividends and does not plan to do so in the foreseeable future, choosing instead to reinvest earnings into business operations and growth. The company's first commercial product, the PreTRM test, predicts the risk of...Show More
Sera Prognostics, a women's health company, reported a net loss of $36.2 million for the year ended December 31, 2023, an improvement from the $44.2 million net loss in 2022. The company's revenue slightly increased to $306,000 in 2023 from $268,000 in 2022. Operating expenses saw a decrease, with selling and marketing expenses dropping by $6.4 million due to a strategic shift towards institutional sales and a focus on generating additional clinical data. Research and development expenses increased by $981,000, primarily due to heightened activity in the PRIME study. Sera Prognostics has not paid dividends and does not plan to do so in the foreseeable future, choosing instead to reinvest earnings into business operations and growth. The company's first commercial product, the PreTRM test, predicts the risk of preterm birth and is part of a broader commercialization strategy that includes clinical trials to demonstrate health and economic benefits. Despite the net losses, Sera Prognostics has taken steps to reduce annual operating expenses and believes its cash runway is sufficient to operate into 2027. The company continues to develop additional biomarker tests and is actively negotiating contracts with private and governmental payers, which may lead to significant revenues. However, if unable to secure contracts or achieve market adoption, Sera Prognostics may need to delay or scale back operations. The company's future plans include expanding clinical utility data, launching real-world evidence implementation programs in 2024 and 2025, and continuing to develop and commercialize its pipeline products and services.

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