Seres Q2 net loss $32.9M; VOWST sales $14.4M (+43% QoQ); announces $175M asset sale to Nestlé

Seres Therapeutics, Inc.

2024-Q2 EPS reported -$0.49

Net loss $32.9M vs net income $46.6M in Q2 2023 (prior year included $125M VOWST milestone from Nestlé).
VOWST Q2 net sales $14.4M, up 43% sequentially; Seres share of profit/loss was a $6.6M net loss.
VOWST asset sale to SPN (Nestlé) provides $175M cash less ~$20M settlement; proceeds to retire Oaktree debt.
SER-155 Phase 1b Cohort 2 placebo-controlled readout on track for September; SER-147 IND readiness H2 2025.
Cash $71.2M at June 30; with deal proceeds expects runway into Q4 2025; without deal into Q4 2024.

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