Seres Q3 net income $8.2M on VOWST gain; cash runway through Q2 2026; SER-155 Phase 2 protocol finalized pending funding

Seres Therapeutics, Inc.

2025-Q3 EPS reported $2.40 revenue$351,000

Net income from continuing ops $8.2M vs loss of $51.0M in Q3 2024, driven by $27.2M gain on VOWST sale.
Cash and equivalents $47.6M; expects to fund operations only through Q2 2026, noting ongoing capital needs.
FDA feedback received; SER-155 Phase 2 protocol for BSI prevention in allo-HSCT being finalized, pending study funding.
CARB-X grant of up to $3.6M awarded for oral liquid formulation of SER-155; IST in irEC initial results expected early 2026.
Cost-reduction measures implemented including workforce decrease; R&D expense $12.6M, G&A $9.5M in Q3.

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