SALT LAKE CITY, Utah — Paul Kearney, Chief Data Officer at Sera Prognostics, Inc. (NASDAQ:SERA), recently sold shares worth $99,564, according to a filing with the Securities and Exchange Commission. The transactions, which occurred on January 10, were executed pursuant to a trading plan under Rule 10b5-1. The sale comes as SERA shares have fallen 23.4% over the past week, and shares are currently trading at $6.37, giving the company a market capitalization of $216 million.
Kearney sold a total of 13,419 shares of Class A common stock in two separate transactions. The first transaction involved the sale of 12,275 shares at a weighted average price of $7.36, with prices ranging between $7.00 and $7.99. In another transaction, 1,144 shares were sold at a weighted average price of $8.06, with prices ranging from $8.02 to $8.13.
Following these transactions, Kearney retains direct ownership of 163,470 shares of Sera Prognostics.
In other recent news, Sera Prognostics revealed top results from the PRIME study, focusing on improving neonatal outcomes through preterm birth risk assessment together with clinical interventions. The Society for Maternal-Fetal Medicine (SMFM) has published a summary of these results, and a comprehensive presentation is scheduled for later. Sera Prognostics plans to host a conference call and live audio webcast to discuss these outcomes in more detail.
In terms of financial developments, Sera Prognostics reported a decrease in net income to $29,000 from $42,000 in the same quarter last year. The company’s operating expenses increased by 8% to $8.9 million, and the net loss increased by 10% to $7.9 million. However, the company maintains a strong cash reserve of $74.3 million, which is projected to sustain operations through 2027.
The company is also focusing on its PreTRM test, aiming to improve its application to tackle the rising rate of preterm birth in the US. Despite an 8% increase in operating costs, the company saw a 227% increase in website traffic due to increased accessibility and educational campaigns. CEO Evguenia Lindgardt highlighted the imminent publication of the PRIME clinical study results, which are expected to play a key role in securing payer support and influencing clinical guidelines.
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