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Seer, Inc. (NASDAQ:SEER), a life sciences company with a market capitalization of $128.6 million and a FAIR financial health rating according to InvestingPro, notified The Nasdaq Stock Market LLC on Monday that, following its 2025 Annual Meeting of Stockholders, the company will not be in compliance with Nasdaq Listing Rule 5605(c)(2)(A). This rule requires the company’s audit committee to have at least three members, including one with financial sophistication. Seer stated it intends to rely on the cure period provided by Nasdaq Listing Rule 5605(c)(4)(B) and is evaluating the membership of its board and committees to regain compliance before the cure period expires.
At the annual meeting, stockholders representing approximately 90.16% of eligible votes were present in person, virtually, or by proxy, constituting a quorum. Six directors—Omid Farokhzad, M.D., Meeta Gulyani, Terrance McGuire, Robert Langer, Sc.D., Dipchand (Deep) Nishar, and Nicolas Roelofs, Ph.D.—were elected to serve until the 2026 annual meeting.
The voting results for each director were as follows:
- Omid Farokhzad, M.D.: 68,782,390 votes for, 912,462 withheld
- Meeta Gulyani: 69,079,404 for, 615,448 withheld
- Terrance McGuire: 59,664,040 for, 10,030,812 withheld
- Robert Langer, Sc.D.: 68,949,736 for, 745,116 withheld
- Dipchand (Deep) Nishar: 63,147,525 for, 6,547,327 withheld
- Nicolas Roelofs, Ph.D.: 63,834,301 for, 5,860,551 withheld
Stockholders also ratified the appointment of Deloitte & Touche LLP as Seer’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote was 85,859,701 in favor, 4,444 against, and 17,403 abstentions.
This information is based on a press release statement contained in Seer’s filing with the U.S. Securities and Exchange Commission.
In other recent news, Seer Inc . reported a notable 37% increase in revenue for the first quarter of 2025, reaching $4.2 million. Despite a net loss of $19.9 million, the company maintains a strong cash position of $285 million. Seer also announced the launch of its new Proteograph Product Suite, aiming to significantly enhance the scalability and affordability of proteomic studies. The suite will be commercially available from June 1 and is expected to reduce the cost of proteomic analysis by about 60%. Additionally, Seer has expanded its partnership with Thermo Fisher Scientific (NYSE:TMO), which strengthens its market position. The company provided full-year 2025 revenue guidance of $17-18 million, representing a 24% year-over-year growth. Despite macroeconomic uncertainties, including tariffs and government funding challenges, Seer remains focused on expanding its user base and driving larger cohort studies. Furthermore, Seer is engaging in a significant 10,000-sample study with Discovery (NASDAQ:WBD) Life Sciences, which could pave the way for more large-scale projects.
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