Seres Therapeutics(US:MCRB)2025-11-05 12:05Financial Performance - Seres reported a net income of $8.2 million for Q3 2025, compared to a net loss of $51.0 million in Q3 2024, primarily due to a $27.2 million gain from the sale of VOWST[11] - Total revenue for the three months ended September 30, 2025, was $351,000, compared to $0 for the same period in 2024, indicating a significant increase[19] - The company reported a net income from continuing operations of $8,204,000 for the three months ended September 30, 2025, compared to a net loss of $51,035,000 in the same period of 2024[19] - The gain on the sale of the VOWST Business was $27,222,000 for the three months ended September 30, 2025, contributing significantly to the overall financial performance[19] - The company reported a net income per share attributable to common stockholders of $0.94 for the three months ended September 30, 2025, compared to a loss of $6.69 per share in the same period of 2024[19] Expenses - Research and development (R&D) expenses decreased to $12.6 million in Q3 2025 from $16.5 million in Q3 2024, driven by reduced personnel and clinical expenses[11] - General and administrative (G&A) expenses fell to $9.5 million in Q3 2025, down from $12.7 million in Q3 2024, reflecting lower personnel and IT-related costs[11] - Research and development expenses for the three months ended September 30, 2025, were $12,616,000, down 23% from $16,460,000 in the same period of 2024[19] - General and administrative expenses decreased to $9,476,000 for the three months ended September 30, 2025, from $12,710,000 in the same period of 2024, representing a 25% reduction[19] Cash and Assets - As of September 30, 2025, Seres had $47.6 million in cash and cash equivalents, expecting to fund operations through Q2 2026[9] - Total current assets increased to $51,527,000 as of September 30, 2025, from $38,674,000 as of December 31, 2024, reflecting a growth of 33%[18] - Total liabilities decreased to $99,776,000 as of September 30, 2025, down from $126,026,000 as of December 31, 2024, indicating a reduction of approximately 21%[18] - Stockholders' equity increased significantly to $43,697,000 as of September 30, 2025, compared to $13,784,000 as of December 31, 2024, marking a growth of over 217%[18] Clinical Development - The SER-155 Phase 2 study is expected to enroll approximately 248 participants, with interim clinical results anticipated within 12 months of study initiation[6] - SER-155 demonstrated a 77% relative risk reduction in bacterial bloodstream infections (BSIs) in a Phase 1b study[13] - The company received a grant of up to $3.6 million from CARB-X to support the development of an oral liquid formulation of SER-155[6] - An ongoing investigator-sponsored study on SER-155 in immune checkpoint related enterocolitis is expected to provide initial results in early 2026[5] - SER-155 has received Breakthrough Therapy designation for the reduction of bloodstream infections in adults undergoing allogeneic hematopoietic stem cell transplantation[14] Cost Management - Cost-reduction measures implemented during Q3 2025 included workforce reductions, aimed at extending the company's cash runway[3] - Weighted average common shares outstanding increased to 8,758,692 for the three months ended September 30, 2025, compared to 7,632,242 for the same period in 2024, reflecting a growth in shareholder base[19]