Business
SERA PROGNOSTICS REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS
SALT LAKE CITY, Aug. 7, 2024 /PRNewswire/ -- Sera Prognostics Inc., The Pregnancy Company® (Nasdaq: SERA), focused on improving maternal and neonatal health
About this update from Sera Prognostics, Inc.
[{"type":"text","content":"SALT LAKE CITY, Aug. 7, 2024 /PRNewswire/ -- Sera Prognostics Inc., The Pregnancy Company® (Nasdaq: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced financial results for the second quarter of 2024 ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nRecent Highlights:\nPublication of positive AVERT PRETERM TRIAL (Serum Assessment of Preterm Birth Outcomes Compared to Historical Controls) results in international peer-reviewed journal, Diagnostics, with coverage on front page of publication.Data analysis for final Prematurity Risk Assessment Combined with Clinical Interventions for Improved Neonatal OutcoMEs (PRIME) study begun and database lock anticipated mid-September with goal of publication in time for key pregnancy and maternal health conferences in the spring.Conditional approval received from New York State on ambient whole-blood collection, allowing Sera to complete nationwide rollout of new blood collection method.Executing variety of cost-effective programs to educate physicians and patients regarding benefits of Sera's PreTRM® Test, such as with a leading platform for U.S. medical professionals with results showing high engagement, a direct to physician multi-channel strategy, and development of social media, email, and broadcast TV strategies to broaden awareness.\"We are pleased to have achieved publication of our positive AVERT study results and look forward to the publication of our pivotal PRIME study, both of which we believe are necessary prerequisites for growing our evidence portfolio, adoption and building revenue over time,\" said Zhenya Lindgardt, President and CEO of Sera Prognostics. \"To further expand awareness of the benefit of our PreTRM offering we are pursuing cost effective multi-channel strategies with focused investments where we anticipate the best impact for value delivered and, at the same time, working to support the establishment of care guidelines leveraging our compelling test-and-treat data.\"\nSecond Quarter 2024 Financial Results\nSecond quarter 2024 revenue was $24,000 compared to $123,000 for the same period of 2023. Total operating expenses were $9.3 million, down 20% from $11.5 million for the second quarter of 2023.\nResearch and development expenses for the second quarter of 2024 w...