Seres Therapeutics' Q2 Revenues Top Estimates; Reports Encouraging VOWST Early Commercial Uptake
Portfolio Pulse from Nabaparna Bhattacharya
Seres Therapeutics reported Q2 revenues of $126.47 million, beating estimates. The company's net income was $46.6 million, primarily due to the $125 million milestone received upon FDA approval of VOWST. However, EPS of $0.36 missed the analyst consensus. The company plans to announce an additional microbiome therapeutic program in H2 2023. VOWST, the first FDA-approved orally administered microbiome therapeutic, saw broad early demand with 610 completed prescription enrollment forms received.
August 08, 2023 | 5:03 pm
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Seres Therapeutics reported better than expected Q2 revenues, primarily due to the FDA approval of VOWST. However, the EPS missed the consensus, which may have contributed to the stock trading lower.
Seres Therapeutics' Q2 revenues beat estimates, primarily due to the FDA approval of VOWST. However, the EPS missed the consensus, which could negatively impact investor sentiment and put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100