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Sera Prognostics Inc. (SERA-8.41%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing a net loss of $32.9 million for the year, compared to a net loss of $36.2 million in the previous year. The company attributes the decrease in net loss to reduced operating expenses, particularly in clinical study costs and laboratory operations.
Research and development expenses were $14.7 million, down from $15.2 million in 2023, primarily due to decreased costs associated with the PRIME study. Selling and marketing expenses decreased by $2.6 million, reflecting reduced personnel and travel costs.
General and administrative expenses were reported at $16.1 million, a slight decrease from the previous year, due to lower personnel costs and insurance expenses.
Revenue for the year was $77,000, a decrease from $306,000 in 2023, with cost of revenue reported at $82,000.
The company has focused on the commercialization of its PreTRM test, a blood-based biomarker test designed to predict the risk of preterm birth. Sera Prognostics is also developing additional biomarker tests for other pregnancy-related conditions.
The filing outlines the company's strategy to seek additional payer contracts and expand its market presence, supported by recent clinical trial results from the AVERT PRETERM TRIAL and PRIME study.
Sera Prognostics anticipates continued operating losses as it invests in commercialization and development activities. The company reported cash, cash equivalents, and marketable securities totaling $68.2 million as of December 31, 2024.
The filing details potential risks, including reliance on a limited number of customers, competition in the life sciences industry, and the need for additional capital to sustain operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sera Prognostics Inc. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.