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The management team has been given a new, refined commercial focus on the facilities since the recent appointment of board member Xenia Lindgart as interim president and CEO.
A leading strategy house to evaluate improved revenue generation through significantly reduced operating costs.
Nadia Altomare is expected to transition from a Chief Commercial Officer to a consulting role in our commercial spend, partnering with our external and internal teams to support driver efficiency and effectiveness.
Salt Lake City, May 25, 2023 /PRNewswire/ – Sierra Prognostics Inc., a pregnancy company® (NASDAQ: SERA), a company focused on improving maternal and newborn health by providing new pregnancy biomarker information to doctors and patients, today announced certain business changes and plans to streamline its strategy and business structure to significantly focus business activities on accelerating test adoption and revenue. It has significantly reduced operating costs.
These plans align leadership with the new net business at institutions to accelerate changes and cost-effectively test adoption and revenue ahead of upcoming data readings. This process began with the appointment of recent board member Xenia Lindhardt, an experienced business operator for high-growth organizations, as interim president and CEO; May 15, 2023.
Sierra Prognostics has developed a leading strategy house to rigorously evaluate the best ways to drive improved revenue at significantly reduced costs to commercialize the company’s PreTRM at scale.® Test and technology pipeline. This assessment is expected to include effective market focus and potential strategic partnerships. As part of this process, Nadia Altomare He is expected to transition from a Chief Business Officer to a consulting role to support driving efficiency and effectiveness in collaboration with our external and internal team.
The company made selective month-end headcount reductions across the business to better measure current business and marketing expenses to allow for a net focus on the most viable near-term opportunities in terms of trial adoption and revenue generation. Sierra Prognostics is evaluating other ways to further improve its business by reducing operating costs and maintaining a strong balance sheet, which currently has a strong foundation for achieving the company’s goals, including improved shareholder value.
“We are taking critical and well-defined steps to facilitate market success from a macro environment, while also considering our role in developing the first-of-its-kind PreTRM test as a standard of care. Protecting mothers and babies,” Sierra Prognostics Interim CEO Zhenya Lindgardt. “While change can be challenging at times, we believe our actions will be successful in supporting our goal of becoming a high-growth pregnancy company, and we are grateful for our team’s role in transforming pregnancy care to create better health care outcomes for expectant mothers and their babies.”
About Sera Prognostics, Inc.
Sierra Prognostics is a leading health diagnostic company working to improve the lives of women and children through accurate pregnancy care. Sierra’s mission is to provide early critical pregnancy information to improve the health of mothers and newborns, thereby reducing healthcare costs. Sierra has a strong pipeline of new diagnostic tests focused on the risk of preterm birth and other pregnancy complications. PreTRM is the correct drug of plot® It informs the physician of the individual risk of preterm birth during pregnancy, allowing for early proactive intervention in high-risk women. Sierra Prognostics is located in Salt Lake City Utah.
About premature birth
Preterm birth is defined as birth before 37 weeks of gestation and is a leading cause of morbidity and mortality in newborns. The 2022 March of Dimes report card shows that for the past four years in a row, more than one in ten babies are born prematurely. Premature births are associated with a higher risk of serious long-term medical problems, including learning disabilities, cerebral palsy, chronic respiratory disease, intellectual disability, seizures, and vision and hearing loss, and can have a significant cost in the lives of affected children. In the United States, annual health care costs for managing short- and long-term complications were estimated at approximately $25 billion in 2016.
About PreTRM® Experiment
PreTRM® The test is the only widely validated, commercially available blood-based biomarker test for early, accurate and individual spontaneous preterm birth in painless singleton pregnancies. PreTRM® It measures proteins in the blood and examines proteins that are highly predictive of preterm birth. PreTRM® Screening allows physicians, between 18 and 20 weeks’ gestation, to identify women at increased risk of preterm birth and its complications, enabling more informed and personalized clinical decisions based on each woman’s individual risk. PreTRM® The test is ordered by a medical professional.
Sera Prognostics, the Sera Prognostics logo, Pregnancy Company and PreTRM are trademarks of Sera Prognostics Inc. in the United States and/or other countries. are trademarks or registered trademarks.
Statement of Safe Harbor
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Amendment Act of 1995, including statements regarding test adoption and revenue acceleration. Targeting improved revenue generation by significantly reducing operational costs; driving efficiency and effectiveness in our business spending; incoming data reading; Potential strategic partnerships; further facilitating the company’s business; Improved share price; establishing the company’s first-of-its-kind PreTRM test as a standard of care; Promote significant growth; And the strategic guidelines of the company under the description “About Serra Prognostics, Inc.” These “forward-looking statements” are based on management’s current expectations of future events and are subject to numerous risks and uncertainties that could cause actual results to differ materially or adversely from those expressed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to: net losses, the need to generate cash and raise additional capital; Revenue from the PreTRM test represents all company revenue to date; the need for widespread scientific and market acceptance of the PreTRM test; Number of material customers; our ability to introduce new products; Potential competition; Our proprietary biobank; Critical suppliers; the COVID-19 pandemic and its potential impact on our business, as well as the business or operations of third parties with whom we do business, estimates of the overall available market opportunity and market growth forecasts; potential third-party payer coverage and payment; new reimbursement methods applicable to the PreTRM exam, including new CPT codes and payment rates for those codes; FDA regulation changes for laboratory-developed tests; intellectual property rights that protect our trials and marketplace; And other issues are discussed under the heading “Risk Factors”. July 14, 2021Updates to those risk factors that are periodically filed in quarterly reports on Form 10-Q, annual reports on Form 10-K, or periodic reports on Form 8-K. All information in this press release is as of the date of release, and the company is not obligated to update this information unless required by law.
Source Sera Prognostics, Inc.
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