Seres Therapeutics 3Q 2026: Revenue $593K, Net loss $16.3M, EPS $(1.63) — 10-Q Summary

What happened

Seres Therapeutics reported third-quarter 2026 revenue of $593K, up 69% from a year earlier, and a net loss of $16.3M, versus prior-year net income of $8.2M. Diluted EPS was a loss of 1.63 per share, compared with earnings of $0.94 per share.

Confirmed

Global impact / market context

Revenue growth was modest in absolute dollars and did not prevent a quarterly loss. The prior-year comparison also included a $27.2M gain from selling VOWST, so reported earnings fell sharply; cost reductions and outside funding or partnerships matter to the company’s ability to advance programs.

Analyst inference

Seres is concentrating development on SER-603, SER-155, and SER-428 while reducing costs. Its pause in Phase 2 investment for SER-155 pending funding links research progress directly to access to cash, and makes partner support important to the pace of development.

Analyst inference

What to watch

1. Watch whether Seres reports progress in finding partners or funding, since those resources could determine whether paused SER-155 Phase 2 investment resumes. Analyst inference
2. Track plans for the SER-155 prevention study and the proposed SER-428 liquid-formulation trial in intensive care patients; neither plan is reported as completed. Confirmed
3. Look for further details on cost reductions from workforce cuts and lease changes, and whether those savings are enough to support the company’s development priorities. Analyst inference

Evidence

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