Start here if you're new
what it is
Seres makes microbiome drugs, which means it tries to treat disease by rebuilding gut bacteria.
how it gets paid
Last year Seres Therapeutics made $12M in revenue. VOWST and related revenue was the main engine at $126M, or 100% of sales.
what just happened
The cleanest takeaway is $351K of latest-quarter revenue against a full-year EPS estimate of -$16.20.
At a glance
C+ balance sheet — struggling to keep the lights on
25/100 earnings predictability — expect surprises
3.5x trailing p/e — the market's not buying it — or you found a deal
-$16.20 fy2024 eps est
$126M fy2023 rev est
xvary composite: 23/100 — weak
What they do
Seres makes microbiome drugs, which means it tries to treat disease by rebuilding gut bacteria.
Seres has one thing you cannot fake: the first FDA-approved orally administered microbiome therapeutic. That matters because you are not buying a concept slide; you are buying the only asset here that already crossed the regulator. In a 103-employee company, one approved product can carry the whole story.
How they make money
$12M
annual revenue
VOWST and related revenue
$126M
13.0%
SER-155 program revenue
$0M
flat
Microbiome platform revenue
$0M
flat
Other revenue
$0M
flat
The products that matter
approved microbiome therapy
approved product
$351k trailing revenue
it is the only commercial proof on the page, and $351k tells you the approved asset is not carrying the equity story yet.
commercial proof
clinical-stage drug programs
clinical pipeline
2026 revenue est. 0
when analysts model 0 revenue for 2026, they are telling you the pipeline matters more than next year's sales line.
the bet
balance sheet support
cash balance
$45.8M cash
for a company with $351k of trailing revenue, the $45.8M cash balance is not a footnote. it is what keeps the development story alive.
runway
Key numbers
-$16.20
fy2024 eps est
$126M
fy2023 rev est
3.5x
trailing p/e
n/a
dividend yield
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $75M (48% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for MCRB right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The cleanest takeaway is $351K of latest-quarter revenue against a full-year EPS estimate of -$16.20.
Quarterly EPS in the 12/31/24 period improved to -$0.01 from much deeper losses earlier in the year. The awkward part is the source mix: quarterly EPS history shows -$0.01, while other data points around recent earnings are inconsistent, so the revenue line is the safer anchor.
$351K
revenue
$0.01
q4 eps
$16.20
fy2024 eps
the number that mattered
$351K mattered because it shows how small the current revenue base is versus the company's $83M market value and $75M debt load.
source: SEC filing data and quarterly EPS history
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What could go wrong
the biggest risk is cash burn outrunning pipeline progress. with $45.8M of cash, $75M of long-term debt, and just $351k of trailing revenue, this story can break on financing before it breaks on science.
med
cash runway keeps shrinking while revenue stays tiny
The company has $45.8M of cash and $351k of trailing revenue. That means the operating story still depends on balance-sheet time more than customer demand.
If cash falls and the revenue line still looks like $351k, you are left owning a financing event instead of a business ramp.
med
the pipeline does not convert the approved asset into a broader story
There is one FDA-approved product and a set of clinical-stage candidates, but analysts still show 0 revenue for 2026. The catch: the market is telling you the pipeline has not earned commercial trust yet.
If trial progress slips or new programs fail to matter, the stock loses the optionality investors are paying for.
med
debt pressure overwhelms the low market value
The market cap is about $83M while long-term debt is $75M. That sounds cheap until you remember the debt stack is almost the size of the equity value.
In a stressed setup, the capital structure matters more than the science deck, and equity holders feel that first.
This is a narrow path: revenue has to move off the floor or the pipeline has to earn real credibility before cash and debt become the only story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next earnings update
Use the next report to check whether the company is still buying time or finally showing operating proof. Last full review: updated feb 27, 2026.
metric
cash versus debt
$45.8M of cash against $75M of long-term debt is the cleanest reality check on the page. If that gap worsens, the equity story gets thinner.
risk
the 2026 revenue estimate
It is 0 right now. If that stays at 0, the market is still saying the commercial case has not arrived.
trend
the $7–$30 trading range
That range tells you this name already trades like a catalyst stock. You should expect a story-driven tape, not a smooth climb.
Analyst rankings
short-term outlook
thin
coverage and target data are sparse. in human-speak: there is no clean wall street consensus to hide behind.
risk profile
high
a 5 / 100 price stability score tells you this trades on catalysts, financing questions, and sentiment swings.
commercial traction
unproven
$351k of trailing revenue with an approved product says the business side has not caught up to the science side.
earnings predictability
25/100
Predictability this low means quarterly numbers are still shaped by a changing business model, not a stable operating machine.
source: institutional data
Institutional activity
institutional ownership data for MCRB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$8
current price
n/a
target midpoint · n/a from current
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