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SALT LAKE CITY, Utah — Paul Kearney, the Chief Data Officer at Sera Prognostics, Inc. (NASDAQ:SERA), recently executed stock sales totaling $99,564, according to a filing with the Securities and Exchange Commission. The transactions, which occurred on January 10, were carried out under a Rule 10b5-1 trading plan. The sales come as SERA shares have declined 23.4% over the past week, with the stock 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. The second transaction saw 1,144 shares 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 disclosed top-line results from the PRIME study, focusing on improving neonatal outcomes through prematurity risk assessment coupled with clinical interventions. The Society for Maternal Fetal Medicine (SMFM) published an abstract of these results, with a comprehensive presentation scheduled for later. Sera Prognostics plans to host a conference call and live audio webcast for a more in-depth discussion of these outcomes.
In financial developments, Sera Prognostics reported a decrease in net revenue to $29,000 from $42,000 in the same quarter of the previous year. The company's operating expenses rose 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, projected to sustain operations into 2027.
The company is also focusing on its PreTRM test, aiming to enhance its adoption to tackle rising preterm birth rates in the U.S. Despite an 8% increase in operating expenses, the company saw a 227% surge in website traffic due to increased accessibility and educational campaigns. CEO Evguenia Lindgardt highlighted the forthcoming publication of the PRIME clinical study results, which are expected to play a crucial role in securing payer support and influencing clinical guidelines.
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