Sera Prognostics Announces Commercial Changes and Actions to Optimize Business By Investing.com

Sera Prognostics (SERA) Announces Commercial Changes and Actions to Optimize Business

Sera Prognostics Inc., The Pregnancy Company® (SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced certain commercial changes and plans to optimize its strategy and commercial structure to highly focus business activities on accelerating test adoption and revenue at significantly reduced operating costs.

These plans include changes to better align leadership with a new refined commercial focus on institutions and cost-effectively accelerating test adoption and revenue in advance of upcoming data readouts. This process started with the recent appointment of Board Member Zhenya Lindgardt, a seasoned business operator for high-growth organizations, as interim President and CEO, announced on May 15, 2023.

Sera Prognostics has also engaged a leading strategy house to rigorously evaluate the best pathways toward enhanced revenue at significantly reduced cost to more broadly commercialize the company’s PreTRM® Test and pipeline of technology. This evaluation is expected to be inclusive of efficient market focus and potential strategic partnerships. As part of this process, Nadia Altomare is expected to move from Chief Commercial Officer to a consulting role to support driving efficiency and effectiveness in our commercial spend in partnership with our external and internal team.

The Company has also made select headcount reductions at month end in its commercial organization to better map current commercial and marketing costs toward refined focus on those opportunities being deemed as the most lucrative in the near-term from a test adoption and revenue generation perspective. Sera Prognostics is evaluating other ways to further optimize its business while reducing operating costs and protecting its strong balance sheet, which currently affords a strong foundation toward realization of the Company’s goals outlined today coupled with targeting improved shareholder valuation.

“We are taking decisive and well-defined steps to optimize for market success given the macro environment, while also taking into consideration the emerging role we seek to play in establishing our first-of-its-kind PreTRM test as a standard of care in protecting mothers and babies,” said Sera Prognostics interim CEO, Zhenya Lindgardt. “While change is at times challenging, we anticipate our actions will prove successful in supporting our goal to be The Pregnancy Company while fostering significant growth, and we are thankful for our team’s role in creating a paradigm shift in pregnancy care to create better healthcare outcomes for expectant mothers and their children.”