Financial Data and Key Metrics Changes - Seres Therapeutics reported a net loss of $32.9 million for Q2 2024, compared to a net income of $46.6 million in Q2 2023, primarily due to a $125 million milestone payment received in Q2 2023 upon FDA approval of VOWST [25][26] - Research and development expenses decreased to $17.9 million from $46.8 million year-over-year, driven by the capitalization of VOWST commercial manufacturing costs and reductions in headcount [24][25] - General and administrative expenses were reduced to $16.1 million from $28.1 million in the same period last year, reflecting lower headcount and cost reduction efforts [24][25] Business Line Data and Key Metrics Changes - VOWST net sales for Q2 2024 were $14.4 million, reflecting approximately 43% growth over Q1 2024 [23][24] - The company does not recognize VOWST net sales in its financial statements but shares equally in the product's commercial profits and losses [23] Market Data and Key Metrics Changes - The VOWST asset sale to Nestle Health Science is expected to close within 90 days, providing Seres with $155 million in cash, which will strengthen its balance sheet and support pipeline development [4][5][26] Company Strategy and Development Direction - The company plans to leverage its capabilities and core intellectual property to advance new biotherapeutics targeting significant unmet medical needs, particularly in high-risk patient populations [6][7] - Seres is focusing on the SER-155 program, which is being evaluated in a Phase Ib study, with important clinical data expected next month [7][8] - The company aims to develop SER-147 for patients with metabolic diseases, expanding its therapeutic portfolio [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of VOWST and the strategic direction following the asset sale, emphasizing a streamlined organization focused on advancing pipeline assets [5][7] - The upcoming clinical data from SER-155 is anticipated to validate the therapeutic approach and inform future development steps [12][21] Other Important Information - More than one-third of the employee base is expected to transition to Nestle Health Science as part of the VOWST asset sale, which will lead to a more focused organization [25] - The company expects its cash runway to extend into Q4 2025, supported by the capital from the VOWST asset sale [26] Q&A Session Summary Question: What signals are being looked for in cohort 2 for SER-155? - Management indicated that they are looking for meaningful decrements in rates of neutropenia, fever, bloodstream infections, and consistency across endpoints [30][31] Question: What might a potential pivotal study look like if Cohort 2 is successful? - A pivotal study would likely be efficiently sized, building on the experience with VOWST, with a safety database requirement of about 300 total subjects [34] Question: Is there applicability for SER-155 in CAR T therapy? - Management confirmed that SER-155 could address both infectious complications and immunologic issues in CAR-T therapy [38][39] Question: What are the next steps with the agency if the Phase Ib cohort data is positive? - The company plans to discuss the data with the agency and seek designations for orphan drug and breakthrough status [46][47] Question: How does the company prioritize its pipeline post-VOWST? - The company prioritizes programs based on unmet needs and the potential for its technology to address those needs effectively [50][53]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37465 Seres Therapeutics, Inc. (Exact name of registrant as specifie ...

Exhibit 99.1 SERES THERAPEUTICS REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATES SER-155 Phase 1b placebo-controlled Cohort 2 clinical readout on track for September VOWST asset sale to provide $175M cash infusion, less approximately $20M in settlement of net obligations between the Parties, at close Transaction proceeds to fully retire debt and support advancement of wholly-owned cultivated live biotherapeutic pipeline to improve patient outcomes in medically vulnerable populatio ...

Upon closing, Seres to receive $175M cash infusion, including an upfront payment, prepayment of a future commercial milestone payment, and an equity investment in Seres common stock, less approximately $20M in settlement of net obligations between the Parties; anticipated deal closing in the next 90 days Additional approximately $75M in cash payments are due to Seres in 2025, contingent upon Seres' compliance with transition obligations, with the potential for additional future commercial milestone payments ...

Transaction ensures Nestlé Health Science will continue to commercialize the product BRIDGEWATER, N.J., June 6, 2024 /PRNewswire/ -- Seres Therapeutics, Inc. (Nasdaq: MCRB), announced today that it has agreed to a non-binding memorandum of understanding with Nestlé Health Science in which Nestlé Health Science will acquire certain tangible and intangible assets associated with VOWST (fecal microbiota spores, live-brpk) capsules. This transaction, when completed, supersedes any prior agreements between Nestl ...

Seres anticipates capital infusions, including an upfront payment, enabling the Company to fully retire its debt and extend its cash runway into Q4 2025, pending deal closure and subject to performance under a transition services agreement Future Company focus on advancement of SER-155 and other cultivated oral microbiome therapeutics for medically vulnerable patient populations with potential to address large commercial opportunities and commercial opportunities; operating plans and our future cash runway; ...

Seres anticipates capital infusions, including an upfront payment, enabling the Company to fully retire its debt and extend its cash runway into Q4 2025, pending deal closure and subject to performance under a transition services agreement Future Company focus on advancement of SER-155 and other cultivated oral microbiome therapeutics for medically vulnerable patient populations with potential to address large commercial opportunities CAMBRIDGE, Mass., June 06, 2024 (GLOBE NEWSWIRE) -- Seres Therapeutics, I ...

Seres Therapeutics, Inc. (NASDAQ:MCRB) Q1 2024 Results Conference Call May 8, 2024 8:30 AM ET Company Participants Carlo Tanzi - IR Eric Shaff - CEO Terri Young - Chief Commercial and Strategy Officer Lisa von Moltke - Chief Medical Officer Marella Thorell - CFO Matthew Henn - EVP, Chief Scientific Officer Conference Call Participants Ted Tenthoff - Piper Sandler John Newman - Canaccord Genuity Tess Romero - JPMorgan Jeff Jones - Oppenheimer Keay Nakae - Chardan Operator Thank you for standing by. My name i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37465 Seres Therapeutics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

Exhibit 99.1 SERES THERAPEUTICS REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATES Continued market adoption of VOWST® with approximately 1,411 patient enrollment forms received, approximately 1,083 new patient starts, and net sales of $10.1 million during Q1 2024, and accelerated net sales in March and April SER-155 Phase 1b placebo-controlled Cohort 2 clinical readout expected end of Q3 2024 Further microbiome therapeutic candidates have potential to expand product franchise into a ...