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1. Company Snapshot

1.a. Company Description

Seres Therapeutics, Inc., a microbiome therapeutics platform company, engages in developing bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease.The company's lead product candidate is the SER-109, an oral microbiome therapeutic candidate that has completed Phase III clinical trial for the treatment of clostridium difficile infection (CDI).It is also developing SER-155, a cultivated bacteria microbiome drug, which is Phase Ib clinical trial to reduce incidences of gastrointestinal infections, bloodstream infections, and graft versus host diseases in immunocompromised patients receiving allogeneic hematopoietic stem cell transplantation and solid organ transplants.


In addition, the company engages in the development of SER-287 and SER-301 that are in Phase Ib to treat ulcerative colitis; SER-401 for patients with metastatic melanoma; and SER-262 to treat Clostridioides difficile infection.It has license and collaboration agreements with Nestec Ltd.and Memorial Sloan Kettering Cancer Center.


The company was formerly known as Seres Health, Inc.and changed its name to Seres Therapeutics, Inc.in May 2015.


Seres Therapeutics, Inc.was incorporated in 2010 and is headquartered in Cambridge, Massachusetts.

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1.b. Last Insights on MCRB

Recent negative drivers for Seres Therapeutics, Inc. include uncertainty around the company's transition obligations following the sale of its VOWST business to Nestlé Health Science, which may be weighing on investor sentiment. Additionally, the company's reliance on installment payments, such as the recent $50 million payment, may be viewed as a short-term fix rather than a sustainable revenue stream. Furthermore, the latest biomarker results from the SER-155 Phase 1b clinical study, while promising, may not be enough to offset concerns around the company's long-term growth prospects.

1.c. Company Highlights

2. Seres Therapeutics' Q3 2025 Earnings: A Significant Beat on EPS

Seres Therapeutics reported a net income from continuing operations of $8.2 million in Q3 2025, compared to a net loss from continuing operations of $51 million in the third quarter of 2024. The actual EPS came out at $0.94, significantly beating analysts' estimates of $0.05. The company's cash and cash equivalents stood at $47.6 million as of September 30, 2025, providing a sufficient runway to fund operations through the second quarter of 2026.

Publication Date: Nov -29

📋 Highlights
  • SER-155 Phase Ib Efficacy:: Demonstrated 77% relative risk reduction in bacterial bloodstream infections in allo-HSCT patients.
  • Phase II Study Alignment:: FDA aligned on key parameters, aiming for 12-month interim analysis of placebo-controlled data.
  • Financial Turnaround:: Q3 2025 net income of $8.2M vs. $51M loss in Q3 2024, driven by $27.2M gain from VOWST sale.
  • CARB-X Grant:: $3.6M non-dilutive funding to develop oral liquid formulation of SER-155.
  • Operational Cash Runway:: $47.6M in cash as of Q3 2025, funding operations through Q2 2026.

Revenue Growth Expectations

Analysts estimate next year's revenue growth at 9886.7%, indicating a significant expansion in the company's top line. While the current revenue figure is not explicitly stated, the expected growth rate suggests a substantial increase in sales, potentially driven by the advancement of SER-155, the company's lead investigational oral live biotherapeutic.

Operational Highlights and Pipeline Advancements

Seres continues to execute its R&D strategy with efficiency and discipline, focusing on expanding the reach of SER-155 and building on key clinical insights to advance its broader biotherapeutic pipeline. The company received a non-dilutive award of up to $3.6 million from the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) to support the development of an oral liquid formulation of SER-155. According to Marella Thorell, SER-155 represents a "first-in-class mechanistically differentiated approach to address infections, including bloodstream and antimicrobial resistant infections."

Valuation Metrics

With a P/E Ratio of 29.21 and a P/S Ratio of 25.02, the market appears to be pricing in significant growth expectations for Seres Therapeutics. The company's ROE stands at 15.31%, indicating a relatively healthy return on equity. However, the EV/EBITDA ratio is negative at -2.41, suggesting that the company's enterprise value is not yet supported by its EBITDA. As the company advances its pipeline and potentially brings new products to market, investors will be watching these valuation metrics closely to assess the stock's performance.

3. NewsRoom

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Seres Therapeutics (NASDAQ:MCRB) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Dec -05

Source: defenseworld.net

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Seres Therapeutics to Participate in Piper Sandler Healthcare Conference

Nov -24

Source: globenewswire.com

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Seres Therapeutics, Inc. (MCRB) Q3 2025 Earnings Call Transcript

Nov -05

Source: seekingalpha.com

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Seres Therapeutics Reports Third Quarter 2025 Financial Results and Provides Business Updates

Nov -05

Source: globenewswire.com

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Seres Therapeutics to Announce Third Quarter 2025 Financial Results and Business Updates on November 5, 2025

Oct -30

Source: globenewswire.com

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Seres Therapeutics Receives Award of Up to $3.6 Million from CARB-X to Develop Liquid Formulation of SER-155

Oct -29

Source: globenewswire.com

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Seres Therapeutics to Present New Post Hoc Data From SER-155 Phase 1b Trial at IDWeek 2025, Highlighting Potential to Improve Outcomes in Adults Undergoing Allogeneic Hematopoietic Stem Cell Transplant

Oct -14

Source: globenewswire.com

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Seres Therapeutics to Present New Post Hoc Data From SER-155 Phase 1b Trial at IDWeek 2025, Highlighting Potential to Improve Outcomes in Adults Undergoing Allogeneic Hematopoietic Stem Cell Transplant

Oct -14

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.30%)

6. Segments

Microbiome Therapeutics

Expected Growth: 11.3%

Seres Therapeutics' Microbiome Therapeutics growth is driven by increasing demand for novel treatments for gastrointestinal disorders, rising awareness of microbiome's role in human health, and advancements in microbiome-based research. Additionally, strategic partnerships and collaborations, as well as expanding pipeline of therapeutic candidates, contribute to the 11.3% growth.

7. Detailed Products

SER-109

SER-109 is an oral microbiome therapeutic candidate designed to prevent recurrent Clostridioides difficile infection (CDI) in adults.

SER-287

SER-287 is an oral microbiome therapeutic candidate designed to treat mild-to-moderate ulcerative colitis.

SER-301

SER-301 is an oral microbiome therapeutic candidate designed to treat inflammatory bowel disease (IBD).

SER-155

SER-155 is an oral microbiome therapeutic candidate designed to prevent graft-versus-host disease (GVHD) in patients undergoing hematopoietic stem cell transplantation.

8. Seres Therapeutics, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Seres Therapeutics, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the microbiome therapeutics space.

Bargaining Power Of Customers

Seres Therapeutics, Inc. has a diverse customer base, and no single customer has significant bargaining power, reducing the threat of customer bargaining power.

Bargaining Power Of Suppliers

Seres Therapeutics, Inc. relies on a limited number of suppliers for raw materials and services, giving them some bargaining power, but the company's strong relationships and contracts mitigate this risk.

Threat Of New Entrants

The microbiome therapeutics market is rapidly growing, and new entrants are attracted to the market, increasing the threat of new entrants and competition for Seres Therapeutics, Inc.

Intensity Of Rivalry

The microbiome therapeutics market is highly competitive, with several established players and new entrants, leading to a high intensity of rivalry among competitors, including Seres Therapeutics, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 170.79%
Debt Cost 6.16%
Equity Weight -70.79%
Equity Cost 14.63%
WACC 0.16%
Leverage -241.26%

11. Quality Control: Seres Therapeutics, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Lineage Cell Therapeutics

A-Score: 4.5/10

Value: 6.2

Growth: 6.0

Quality: 4.6

Yield: 0.0

Momentum: 9.5

Volatility: 1.0

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Protalix BioTherapeutics

A-Score: 4.3/10

Value: 4.1

Growth: 6.6

Quality: 8.2

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

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Seres Therapeutics

A-Score: 4.1/10

Value: 6.4

Growth: 4.6

Quality: 6.1

Yield: 0.0

Momentum: 7.0

Volatility: 0.7

1-Year Total Return ->

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Voyager Therapeutics

A-Score: 3.4/10

Value: 7.8

Growth: 4.8

Quality: 5.0

Yield: 0.0

Momentum: 1.0

Volatility: 2.0

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4D Molecular Therapeutics

A-Score: 2.9/10

Value: 7.0

Growth: 1.3

Quality: 3.6

Yield: 0.0

Momentum: 4.5

Volatility: 1.0

1-Year Total Return ->

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MediciNova

A-Score: 2.9/10

Value: 7.2

Growth: 4.6

Quality: 3.1

Yield: 0.0

Momentum: 0.5

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

16.66$

Current Price

16.66$

Potential

0.00%

Expected Cash-Flows