Seres reports Q3 EPS from continuing operations (33c), consensus (24c)

As of September 30, Seres Therapeutics (MCRB) had $66.8M in cash and cash equivalents. The company expects to fund operations into Q4 of 2025. It said, “Our SER-155 data provides strong evidence highlighting its potential to significantly reduce the risk of bacterial bloodstream infections, a leading cause of mortality and morbidity in patients undergoing allogeneic hemopoietic stem cell transplants, as well as other medically vulnerable populations. Based on these highly encouraging results, including a relative risk reduction of 77% in BSIs in the active arm as compared to placebo, we have requested Breakthrough Therapy designation and Qualified Infectious Disease Product designation, and anticipate feedback from the FDA by the end of this year. Additionally, we are planning for the next clinical study in allo-HSCT, which we believe could be a single registration study for efficacy. We intend to engage with the agency in the first quarter of 2025 to discuss our clinical study results and future study design.”