Summary by Moomoo AI
Sera Prognostics reported Q3 2024 financial results with revenue of $29,000 and a net loss of $7.9 million, compared to $42,000 revenue and $7.2 million net loss in Q3 2023. The company ended the quarter with $74.3 million in cash, cash equivalents and marketable securities, which is expected to fund operations into 2027.The company made significant progress with its PreTRM test, announcing positive results from the AVERT PRETERM TRIAL showing an 18% reduction in severe neonatal morbidity and mortality. The PRIME study enrollment was stopped in December 2023 due to efficacy, with final database lock completed in September 2024. Top-level trial results were communicated in October 2024.Sera continues to focus on market adoption of PreTRM test through evidence generation and commercial strategy refinement. The company established a new at-the-market offering program for up to $50 million and implemented whole-blood specimen collection to enable greater market penetration. Operating expenses were $8.9 million for Q3 2024, compared to $8.2 million in Q3 2023.
