Seres Q3 2023 VOWST sales $7.6M; cuts 41% workforce, targets $75-85M annual savings

Seres Therapeutics, Inc.

2023-Q3 EPS reported -$0.57 revenue$126,261,000

Q3 net loss $47.9M vs $60.0M YoY; VOWST net sales $7.6M from 506 units in first full quarter.
1,513 prescription enrollment forms received, 934 patient starts; 698 unique HCPs prescribed VOWST.
Workforce reduction of ~160 positions (41%) to generate $75-85M annual cash savings in 2024.
Restructuring focuses on VOWST launch and SER-155 Phase 1b study; cash $169.9M expected into Q4 2024.
Eligible for $45M Tranche B from Oaktree upon $35M trailing VOWST sales by Sep 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seres Therapeutics, Inc. reported the third quarter ended September 30, 2023 results: net income net loss of $47.9 million.

Period: the third quarter ended September 30, 2023
Net income: net loss of $47.9 million
Result: reported results

Exact text from the filing

Seres reported a net loss of $47.9 million for the third quarter of 2023, as compared with a net loss of $60.0 million for the same period in 2022.

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Source: SEC EDGAR

accession 0001193125-23-268807

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