Seres Therapeutics Reports Positive Q3 Earnings Call

Seres Therapeutics Inc. ((MCRB)) has held its Q3 earnings call. Read on for the main highlights of the call.

Seres Therapeutics Inc. recently held an earnings call that conveyed a generally positive sentiment, highlighting significant clinical progress and financial recovery. The company has made strides in its clinical programs and financial health, supported by external funding and strategic cost reductions. However, the call also underscored the challenge of securing further capital for future studies, which remains a critical hurdle.

SER-155 Clinical Progress

The Phase Ib study of SER-155 demonstrated promising results, showing a 77% relative risk reduction in bacterial bloodstream infections, along with decreased antibiotic exposure and febrile neutropenia. The FDA’s constructive feedback and alignment on key study parameters for the Phase II protocol mark a significant step forward in the development of this investigational therapy.

Non-Dilutive Funding and Recognition

Seres Therapeutics received a $3.6 million award from CARB-X to develop an oral liquid formulation of SER-155. This funding underscores the global recognition of Seres’ innovative biotherapeutic approach to tackling antimicrobial resistance, further validating their research efforts.

Financial Turnaround

The company reported a net income of $8.2 million in Q3 2025, a significant improvement from a net loss of $51 million in Q3 2024. This financial turnaround was bolstered by a $27.2 million gain from the sale of VOWST, showcasing Seres’ ability to strategically manage its financial resources.

Cost Reduction Measures

To extend its cash runway and focus on core development priorities, Seres implemented a 25% reduction in workforce. This strategic move is part of the company’s broader efforts to streamline operations and ensure financial sustainability.

Dependence on Funding for Phase II Study

The initiation of the SER-155 Phase II study is contingent upon securing additional funding. Seres is actively seeking partnerships or other capital sources to support this critical phase of development, highlighting the importance of financial backing for future progress.

Reduced Research and Development Budget

Seres reported a decrease in R&D expenses from $16.5 million in Q3 2024 to $12.6 million in Q3 2025. This reduction reflects lower personnel and related costs, which could potentially impact future development efforts but also indicates a strategic focus on cost efficiency.

Forward-Looking Guidance

Looking ahead, Seres Therapeutics is focused on advancing its lead investigational therapy, SER-155, which has received Breakthrough Therapy designation from the FDA. The company anticipates obtaining meaningful clinical results from an interim analysis within 12 months of study initiation, contingent upon funding. With a cash position of $47.6 million as of September 30, 2025, Seres expects to fund operations through Q2 2026, while also planning to expand the use of SER-155 in other medically vulnerable populations.

In summary, Seres Therapeutics Inc.’s earnings call reflected a positive outlook with significant clinical and financial advancements. The company’s strategic cost reductions and external funding have bolstered its financial recovery, although the dependency on securing further capital remains a challenge. The progress of SER-155 and its potential impact on antimicrobial resistance are key highlights, with forward-looking guidance pointing towards continued development and expansion efforts.