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Sera Prognostics Revenues, Net Loss Up in Q3

NEW YORK — Sera Prognostics reported after the close of markets on Tuesday that its Q3 2021 revenues rose more than fourfold while its net loss jumped on increased spending.

For the three months ended Sept. 30, the Salt Lake City-based diagnostics firm posted revenues of $23,000, up from $5,000 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.

Sera's net loss during the quarter was $9.9 million, or $.39 per share, compared to $5.1 million, or $3.30 per share, in Q3 2020. It used approximately 25.1 million shares to calculate its 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 $2.7 million, up 42 percent from $1.9 million in Q3 2020. Its SG&A expenses were $6.7 million, more than doubling from $2.8 million in Q3 2020.

Sera ended the quarter with $82.5 million in cash and cash equivalents and $37.5 million in marketable securities.