Seres Therapeutics (MCRB) Status update summary

Leadership and Organizational Updates

• Richard N. Kender appointed as Executive Chair and Interim CEO, bringing over 35 years of biopharma experience, including senior roles at Merck & Co.

• Previous co-CEOs continue as Chief Legal Officer and Chief Financial Officer, ensuring leadership continuity.

• Matthew Henn, Ph.D., becomes President in addition to Chief Scientific Officer; Kelly Brady, M.S., promoted to Chief Operating Officer.

• Recent management transitions emphasize continuity and expertise in biotherapeutics.

Strategic Focus and Pipeline Developments

• The organization is leveraging a proven scientific foundation to advance live biotherapeutic drugs for unmet medical needs, focusing on inflammatory and immune diseases, especially IBD and immune checkpoint-related enterocolitis (irEC).

• SER-155 is being evaluated in a fully enrolled investigator-sponsored trial for irEC, with data expected in Q2 2026.

• SER-155 is Phase 2 ready for allo-HSCT patients, with preparations complete and pending additional funding.

• SER-603, a preclinical candidate for IBD, is in IND-enabling activities and positioned as a non-immunosuppressive therapy with significant commercial potential.

• Development of an oral liquid LBP formulation based on SER-155 strains is progressing, supported by a CARB-X grant.

Financial Position and Operational Updates

• Cash and cash equivalents stood at $45.8 million as of December 31, 2025, including $12.2 million raised in Q4 2025.

• Cost reduction measures, including workforce reduction, have been implemented to extend the cash runway.

• Current cash is expected to fund operations through Q3 2026, with ongoing efforts to secure further funding.

• Future financial results and business updates will be communicated via press release; earnings calls will be discontinued.