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Earnings Call Summary | Sera Prognostics(SERA.US) Q1 2024 Earnings Conference

Futu News ·  May 9 20:23  · Conference Call

The following is a summary of the Sera Prognostics, Inc. (SERA) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Sera Prognostics reported a net revenue of $0 for Q1 2024 due to adjustments as part of their normal revenue recognition process, although gross revenues before adjustments were approximately $39,000.

  • Total operating expenses for Q1 were $9.1 million, down 20% year-over-year.

  • The net loss for the quarter decreased 24% to $8.1 million.

  • The company's cash and available-for-sale securities improved to $85.4 million as of March 2024.

Business Progress:

  • Sera Prognostics is focusing on increasing test adoption and improving product margins.

  • The company has made progress on strategic priorities like submitting PRIME study findings, improving test analysis process cost-effectiveness, increasing awareness of PreTRM birth, and expanding into international markets.

  • Shipping of newly validated ambient whole blood collection kits to customers has begun, which is expected to reduce costs and increase patient access.

  • Plans are in place to share data from their AVERT and PRIME studies with potential international partners and regulators.

  • The FDA's final rule on Laboratory-Developed Tests (LDTs) is deemed potentially advantageous by the company.

More details: Sera Prognostics IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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