Seres Therapeutics, Inc.
MCRB evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for MCRB—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · MCRB
Seres Therapeutics is a clinical-stage biopharmaceutical company developing live biotherapeutic products to treat diseases in medically compromised populations, including oncology and inflammatory/immune indications.
Key risk: Substantial accumulated deficit
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 1 clinical trial for Seres Therapeutics, Inc..
Seres Therapeutics is a clinical-stage biopharmaceutical company developing live biotherapeutic products to treat diseases in medically compromised populations, including oncology and inflammatory/immune indications.
- Seres is a clinical-stage company focused on improving patient outcomes in medically compromised populations, including oncology and inflammatory/immune diseases, through novel live biotherapeutics [sec · filed 2026-08-13].
- The company has incurred significant operating losses since inception, with a net loss of $42.2 million for the six months ended June 30, 2026, and an accumulated deficit of $987.7 million as of that date [sec_mda · as of 2026-08-05].
- As of June 30, 2026, Seres reported cash and equivalents of $17.8 million, total revenue of $0.7 million, net income of $4.6 million, and shareholders' equity of $44.2 million [latest reported financials].
- Seres plans to focus near-term investment on advancing early-stage candidates, including IND-enabling studies for SER-603 and evaluating the next stage for SER-155 in irEC [sec_mda · as of 2026-08-05].
- The company owns a valuable intellectual property estate related to the development and manufacture of live biotherapeutics [sec_mda · as of 2026-05-05].
What works
- Seres has a proprietary platform for designing therapeutic consortia of bacteria to restructure the gut microbiome and modulate disease-associated pathways [sec_mda · as of 2026-05-05].
- The company owns a valuable intellectual property estate related to live biotherapeutic development and manufacturing [sec_mda · as of 2026-05-05].
- FDA has endorsed the primary endpoint and interim analysis strategy for SER-155 and indicated openness to an expedited Phase 3 path if overwhelming efficacy is shown [sec · filed 2026-04-27].
What to weigh
- Seres has incurred significant operating losses since inception, with an accumulated deficit of $987.7 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- The company's product candidates are in early-stage clinical or preclinical development, with no approved products generating revenue [sec_mda · as of 2026-05-05].
- Seres faces substantial uncertainty regarding its ability to obtain additional funding to advance its pipeline, as expenses are expected to increase [sec_mda · as of 2026-08-05].
- The company's ability to achieve profitability depends heavily on the successful development and eventual commercialization of one or more product candidates, which is uncertain [sec_mda · as of 2026-05-05].
From the filings
Quoted directly from source documents.
Seres is a clinical-stage company focused on medically compromised populations.
“We are a clinical-stage company focused on improving patient outcomes in medically compromised populations, including oncology patients and those suffering from inflammatory and immune, or I&I, diseases through discovery and development of novel live biothera”
SEC filings · August 13, 2026
Seres has incurred significant operating losses and a large accumulated deficit.
“Since our inception, we have incurred significant operating losses. Our net loss from operations was $42.2 million for the six months ended June 30, 2026. As of June 30, 2026, we had an accumulated deficit of $987.7 million.”
SEC MD&A · August 5, 2026
Seres plans to focus near-term investment on early-stage candidates.
“We plan to focus our investment in the near-term on advancing our early-stage live biotherapeutic candidates, including advancing IND-enabling studies for SER-603, evaluating the next stage of development for SER-155 in irEC, and, subject to receiving additional funding, progressing the development of SER-155 into a Phase 2 study in allo-HCT.”
SEC MD&A · August 5, 2026
FDA has endorsed the primary endpoint and IA strategy for SER-155.
“FDA endorsed primary endpoint, IA strategy, and indicated openness to agreeing an expedited path to starting Phase 3 if IA shows overwhelming efficacy”
SEC filings · April 27, 2026
Risks & what to watch (4)›
Key risks
- Substantial accumulated deficit — Accumulated deficit of $987.7 million as of June 30, 2026, with ongoing net losses [sec_mda · as of 2026-08-05].
- Early-stage pipeline — All product candidates are in early-stage clinical or preclinical development; no approved products [sec_mda · as of 2026-05-05].
- Funding uncertainty — Future capital requirements depend on factors including clinical trial costs and potential milestone payments; expenses expected to increase [sec_mda · as of 2026-08-05].
- Dependence on successful development — Ability to achieve profitability depends heavily on successful development and commercialization of product candidates [sec_mda · as of 2026-05-05].
What to watch
- Progress of IND-enabling studies for SER-603 and next-stage development for SER-155 in irEC [sec_mda · as of 2026-08-05].
- Ability to secure additional funding to support Phase 2 study for SER-155 in allo-HCT [sec_mda · as of 2026-08-05].
- Clinical study initiation milestones for SER-155, including site selection and protocol amendments [sec · filed 2026-04-27].
- FDA feedback and potential expedited Phase 3 path for SER-155 based on interim analysis results [sec · filed 2026-04-27].
Sources: SEC filings · SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
3.4 months
D/E 1.94 · 0% dilution
Lead: Approved
4 candidates
No upcoming catalysts tracked
0 buys · 8 sells (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
34
Total value held
$24.7M
| Holder | Shares | Value |
|---|---|---|
| flagship pioneering, llc | 1,155,850 | $10.3M |
| vanguard capital management llc | 588,286 | $5.2M |
| susquehanna international group, llp | 226,939 | $2.0M |
| marshall wace, llp | 139,539 | $1.2M |
| vontobel holding ltd. | 138,468 | $1.2M |
| blackrock, inc. | 102,026 | $905K |
| geode capital management, llc | 74,835 | $664K |
| american century companies inc | 62,316 | $553K |
| citadel advisors llc | 59,500 | $528K |
| vanguard fiduciary trust co | 39,643 | $352K |
Showing top 10 of 34 institutional holders of Seres Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 7.4%
- Days to cover
- 10.6
- Shares short
- 540,750
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
MCRB short interestGovernance
Frequently asked questions
What is the AI investment thesis for Seres Therapeutics, Inc.?
Seres Therapeutics is a clinical-stage biopharmaceutical company developing live biotherapeutic products to treat diseases in medically compromised populations, including oncology and inflammatory/immune indications.
What is Seres Therapeutics, Inc.'s lead drug candidate?
Seres Therapeutics, Inc.'s most advanced tracked candidate is SER-147 (Phase 1) for Prevention of bacterial bloodstream and spontaneous bacterial peritonitis (SBP) infections in patients with metabolic disease, including chronic liver disease (CLD).
Who is the CEO of Seres Therapeutics, Inc.?
Mr. Richard N. Kender B.S., M.B.A. is the chief executive officer of Seres Therapeutics, Inc. (MCRB).
Where is Seres Therapeutics, Inc. headquartered?
Seres Therapeutics, Inc. (MCRB) is headquartered in Cambridge, MA, United States.
What therapeutic areas does Seres Therapeutics, Inc. focus on?
Seres Therapeutics, Inc. develops therapies across Immunology, Infectious Disease, Metabolic, Gastroenterology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.