NEW YORK — Sera Prognostics reported after the close of markets on Monday that its Q2 2021 revenues rose more than threefold while its net loss jumped on increased spending.
For the three months ended June 30, the Salt Lake City-based diagnostics firm posted revenues of $20,000, up from $6,000 in the year-ago period.
In July, Sera completed a $75 million initial public offering that it said will fund its efforts to commercialize its PreTRM test for predicting risk of preterm birth and to further clinical studies supporting use of the test.
The company also during the quarter entered a multiyear commercial partnership with insurer Anthem to make the PreTRM test available to the insurer's pregnant members.
Sera's net loss during the quarter was $6.3 million, or $3.17 per share, compared to $4.7 million, or $3.08 per share, in Q2 2020. The firm used approximately 2 million shares to calculate per-share loss in the recently completed quarter compared to about 1.5 million shares in the year-ago period.
The company's R&D expenses rose to $2.8 million, up 56 percent from $1.8 million in Q2 2020. SG&A expenses were $4.6 million, up 84 percent from $2.5 million in Q2 2020.
Sera ended the quarter with $90.9 million in cash and cash equivalents.
In Tuesday morning trading on Nasdaq, Sera stock was up 1 percent to $9.89.