MCRB - Seres Therapeutics Is Playing A Long Game

• Seres misses on earnings and revenue, although revenue was up 344% to $144.92 million.
• Net loss of $50.00 million in Q4 compared with $18.3 million in Q4 2020, due significantly to preparing for launch of SER-109.
• Key publication on SER-109 C.difficile results and signs remain good for FDA approval.
• Progress in the Ulcerative Colitis program is encouraging, as was the quality of Q4 questions and sophistication of management answers.
• Microbiomics is becoming increasingly well defined as a new treatment area even though the first real products are still being defined. I think Seres remains positioned to become successful.

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