Seres Q1 net income $32.7M; SER-155 Phase 2 protocol to FDA in weeks

Seres Therapeutics, Inc.

Net income from continuing ops of $32.7M vs net loss of $32.9M YoY, driven by $50M Nestlé installment.
R&D expense down to $11.8M from $19.5M; G&A down to $11.9M from $14.9M.
Cash $58.8M at Mar 31, plus $25M Nestlé installment expected July 2025; runway into Q1 2026.
Plans SER-155 Phase 2 study (248 patients, adaptive design) with interim analysis within 12 months of start.
Regained Nasdaq compliance after 1-for-20 reverse stock split on April 21, 2025.

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