Sera Prognostics, Inc. reported a net loss of $32.9 million for the fiscal year ended December 31, 2024, compared to a net loss of $36.2 million in 2023. Revenue for 2024 was $77,000, a significant decrease from $306,000 in 2023. The company attributed the decrease in revenue to lower sales of its PreTRM test. Operating expenses decreased by $3.4 million, primarily due to reductions in selling and marketing expenses and research and development costs.
Significant developments during the year included the publication of positive results from the AVERT PRETERM TRIAL in July 2024, showing an 18% reduction in severe neonatal morbidity and mortality. In January 2025, top-line results from the PRIME study were presented, indicating a 25% reduction in neonatal morbidity and mortality in the modified intent-to-treat population and a 20% reduction in the intent-to-treat population. The company also announced the launch of a whole-blood collection kit for the PreTRM test in 2024 and the launch of the LikeMine™ web app, a predictive analytics tool, in 2025.
The company's commercialization strategy focuses on demonstrating the health and economic benefits of the PreTRM test to healthcare providers and payers. A multi-year contract with Elevance Health provides for the purchase of a substantial number of PreTRM tests. The company is also actively developing additional biomarker tests for other pregnancy-related conditions, including preeclampsia and gestational diabetes. As of December 31, 2024, Sera Prognostics employed 64 people.
The company's financial statements show a net decrease in cash and cash equivalents of $25.998 million in 2023, followed by a net increase of $163,000 in 2024. This change reflects the company's ongoing efforts to secure additional funding. The company completed a public offering in February 2025, raising approximately $57.5 million in gross proceeds. The company anticipates continuing to incur losses for the foreseeable future and expects to rely on additional funding to support operations and product development.
Looking ahead, Sera Prognostics plans to expand the commercialization of the PreTRM test, both domestically and internationally, focusing initially on Europe. The company also intends to continue developing its pipeline of biomarker tests and predictive analytics products. The company acknowledges significant risks, including reliance on a limited number of customers, intense competition, and the potential for changes in government regulations. The company's future success depends on its ability to secure additional funding, successfully commercialize its products, and navigate the complexities of the healthcare industry.
About SERA PROGNOSTICS, INC.
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