Seres Therapeutics reports 2022 revenue $7.13M, consensus $10.7M

Seres reported a net loss of $250.2M for the full year of 2022, as compared to a net loss of $65.6M for the prior year. Seres reported a net loss of $68.8M for the fourth quarter of 2022, as compared to a net loss of $50.0M for the same period in 2021. As of December 31, 2022, Seres had approximately $181.3M in cash, cash equivalents and marketable securities as compared with $291.2M at the end of 2021. Pending FDA approval of SER-109, the company anticipates receiving a $125M payment from Nestle Health Science. "We are eagerly looking forward to the upcoming potential FDA approval of SER-109, an investigational first-in-class oral microbiome therapeutic for recurrent C. difficile infection. Pending FDA approval, we anticipate a commercial launch in the weeks following a favorable decision. With nearly 156,000 cases in the U.S. this year, rCDI places an extraordinary burden on patients and the healthcare system. If SER-109 is approved, we look forward to offering a novel oral therapeutic with a compelling safety and clinical profile, and capturing what we expect to be a sizable commercial opportunity," said Eric Shaff, president and CEO at Seres.