Seres Therapeutics, Inc.

Listed Company

MCRBCIK 0001609809NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$789.0K

Net Income

$5.70M

Total Assets

$138.19M

Equity

$44.22M

Shares Out

9.59M

Op. Cash Flow

$1.12M

Business

Seres Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel oral live biotherapeutics to improve outcomes in medically vulnerable patient populations. Its main offerings are cultivated bacterial consortia formulated for oral delivery, including investigational candidates such as SER-155 and SER-147 and proprietary discovery and manufacturing capabilities developed through its MbTx platform. The company operates research, development, clinical, and cGMP manufacturing activities as core business functions. It develops and distributes candidates through regulated clinical trials and regulatory pathways in the United States and internationally.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Trend	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31
Type of Revenue [Extensible List]		—	—	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	46	31	128	163	180
Accounts receivable due from SPN - related party	360,000	2	0	—	—
Accounts receivable	157,000	0	—	—	—
Prepaid expenses and other current assets	3	6	8	13	13
Total current assets	49	39	175	195	304
Property and equipment, net	8	12	18	23	18
Operating lease assets	72	81	90	111	18
Restricted cash	9	9	8	8	8
Other non-current assets	31,000	31,000	2	10	5
Total assets	138	140	359	349	355
Accounts payable	2	4	4	17	14
Accrued expenses and other current liabilities	4	11	23	60	45
Accrued liabilities due to SPN - related party	3	18	0	—	—
Operating lease liabilities	10	9	6	4	7
Total current liabilities	19	41	99	86	82
Operating lease liabilities, net of current portion	73	83	92	108	18
Other long-term liabilities	2	2	2	1	11
Total liabilities	94	126	403	338	223
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.001 par value; 360,000,000 shares authorized at December 31, 2025 and 2024, respectively; 9,556,446 and 8,650,227 shares issued and outstanding at December 31, 2025 and 2024, respectively	10,000	9,000	135,000	125,000	92,000
Additional paid-in capital	1,017	992	933	875	746
Accumulated deficit	−972	−978	−978	−865	−614
Total stockholders' equity	44	14	−45	11	132
Total liabilities and stockholders' equity	138	140	359	349	355

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	11	21	34	25	20
Depreciation and amortization expense	4	5	6	7	6
Non-cash operating lease cost	8	9	9	5	3
Net (accretion) amortization of (discounts) premiums on investments	0	0	−236,000	688,000	498,000
Gain on sale of VOWST Business, net of transaction costs	0	−147	0	0	—
Amortization of debt issuance costs	0	1	1	705,000	3
Loss associated with extinguishment of debt	0	23	2	0	0
(Gain)/loss on disposal of fixed assets	−192,000	317,000	0	0	—
Impairment of long-lived assets	0	3	0	0	—
Change in fair value of warrant liabilities	0	−546,000	−2	0	0
Collaboration (profit) loss sharing - related party (1)	0	0	5	1	—
Accounts receivable due from SPN - related party	2	−2	0	0	—
Prepaid expenses and other current and non-current assets	3	987,000	−29	−13	−12
Accounts receivable	−157,000	0	0	0	9
Collaboration receivable - related party	0	9	−9	0	0
Inventories	0	−34	−30	0	0
Deferred income - related party	0	−4	8	0	0
Deferred revenue - related party	0	0	−1	−7	−4
Accounts payable	−2	−3	−12	2	9
Accrued liabilities due to SPN - related party	−14	−16	0	0	—
Operating lease liabilities	−9	−6	−2	−4	−4
Accrued expenses and other current and long-term liabilities	−7	−10	16	3	43
Net cash provided by (used in) operating activities	1	−149	−117	−229	7
Purchases of property and equipment	−252,000	−380,000	−8	−10	−10
Proceeds from sales of property and equipment	210,000	0	0	—	—
Purchases of investments	0	0	−4	−48	−96
Sales and maturities of investments	0	0	23	140	170
Sales of restricted investments	0	1	0	0	—
Proceeds from sale of VOWST Business	0	141	0	0	—
Net cash (used in) provided by investing activities	−42,000	142	11	82	64
Proceeds from at the market equity offering, net of issuance costs	13	24	18	4	0
Proceeds from exercise of stock options	501,000	0	877,000	966,000	1
Proceeds from Securities Purchase Agreement - related party	0	14	0	0	—
Issuance of common stock under ESPP	230,000	487,000	2	2	827,000
Proceeds from issuance of debt, net of issuance costs	0	0	103	28	0
Repayment of notes payable	0	−128	−53	−2	−948,000
Net cash provided by (used in) financing activities	14	−90	72	130	1
Net increase (decrease) in cash, cash equivalents and restricted cash	15	−97	−35	−17	72
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	−1,000	2,000	−1,000	−1,000
Cash paid for interest	0	11	13	5	2
Property and equipment purchases included in accounts payable and accrued expenses	0	0	16,000	2	874,000
Lease liability arising from obtaining right-of-use assets	0	0	3	91	12
Prepaid rent reclassified to right-of-use assets	0	0	5	7	0
Recognition of warrant liabilities	0	0	2	0	0
Warrants issued related to prior credit facility with Oaktree and recorded as debt discount	0	0	3	—	—

Filings

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