Seres Therapeutics Q3 net loss widens on impairment charge
MCRB•Seres Therapeutics reported Q3 collaboration revenue of $593,000 and a net loss of $16.29 million, compared with a profit a year earlier. It recorded a non-cash impairment charge from early termination of a facility lease and expects cash to fund operations through Q1 2027, excluding future partnerships or capital raises.
1. Q3 results
Seres Therapeutics reported Q3 collaboration revenue of $593,000 and a net loss of $16.29 million, compared with a profit in the prior-year quarter. The company recorded a non-cash impairment charge from early termination of a facility lease.
2. Costs and outlook
Research and development expenses fell, reflecting lower activity and cost-reduction efforts. General and administrative expenses declined with lower personnel, facilities and IT costs. Seres expects to fund operations through Q1 2027, excluding future partnerships or capital raises, and expects to submit its next irEC study design to the FDA in Q1 2027.
