REDWOOD CITY, Calif. - Seer, Inc. (NASDAQ: SEER), a life sciences company known for its Proteograph Product Suite, has announced findings from studies that reveal changes in the human plasma proteome due to spaceflight. The research, led by Dr. Christopher Mason and involving Seer's technology, was published in Nature and Nature Communications.
The studies examined the impact of space travel on the human body by profiling the secretome – the plasma proteome, metabolome, and extracellular vesicles and particles – of astronauts from the SpaceX Inspiration4 mission. The findings showed significant alterations in proteins related to coagulation, antioxidation, and brain function, which persisted six months after the astronauts returned to Earth.
Dr. Mason's research, which also included data from other missions such as Polaris (NYSE:PII) Dawn, Axiom-2, and the NASA Twins Study, has led to the creation of a comprehensive atlas of molecular and physiological profiles. This resource is intended to aid in the study of aerospace-associated physiological changes and could contribute to the development of personalized countermeasures for future space travelers.
Seer's technology played a crucial role in these discoveries, enabling the identification of thousands of new protein metrics. The older version of the Proteograph technology and mass spectrometry used in the study identified over 23,000 peptides mapping to nearly 3,000 unique protein groups.
The recent launch of Seer's Proteograph XT Assay Kit promises even more comprehensive proteomics research capabilities, with the ability to detect over 60,000 peptides and 8,000 proteins in human plasma.
The three papers are part of a larger collection of 44 space mission papers published across various Nature journals, which together outline a detailed profile of space missions and plans for future travel to the moon and Mars.
Seer emphasizes that their Proteograph Product Suite, which includes engineered nanoparticles, consumables, automation instrumentation, and software, is for research use only and not for diagnostic procedures. The company's technology aims to provide insights into drug response analysis, drug discovery, and precision medicine, enhancing the ability of researchers to conduct proteomic and genomic research at an unprecedented scale.
This article is based on a press release statement from Seer, Inc.
In other recent news, Seer, Inc. reported a 24% decrease in Q1 revenue year-over-year, totaling $3.1 million. The company attributes this decline to slower adoption rates of their Proteograph platform. In response, Seer has implemented strategic measures, including a 10% workforce reduction, a $25 million share repurchase program, and expansion of their commercial team. The company revised its 2024 revenue forecast to be between $16 million and $18 million.
Additionally, Seer launched the Seer insights grant program and a European Seer Technology Access Center (STAC) to enhance technology access and adoption. The company remains optimistic about the potential of their Proteograph platform and expects a strong pipeline of customer publications to support technology adoption.
InvestingPro Insights
Seer, Inc. (NASDAQ: SEER), while making strides in proteomics research with its recent studies on the effects of space travel on human biology, presents a mixed financial outlook according to recent data and analysis. With a market capitalization of $114.94 million, the company's financial health and future growth potential are of particular interest to investors.
InvestingPro Data highlights a challenging financial position for Seer, with a negative P/E ratio of -1.4 for the last twelve months as of Q1 2024, indicating that the company is currently not profitable. The company's revenue has seen a decline of -3.45% during the same period, and a more stark quarterly revenue growth drop of -24.35% in Q1 2024.
Despite these financial headwinds, Seer does have certain strengths. According to InvestingPro Tips, the company holds more cash than debt on its balance sheet, which may provide some financial flexibility. Additionally, Seer's liquid assets exceed its short-term obligations, suggesting the company can manage its immediate financial liabilities.
However, it's important to note that Seer is quickly burning through its cash reserves, and analysts have revised their earnings downwards for the upcoming period, signaling potential concerns about the company's future revenue streams. Furthermore, analysts do not anticipate Seer becoming profitable this year, and the company does not pay a dividend, which may deter income-focused investors.
For investors interested in a deeper dive into Seer's financials and future prospects, InvestingPro offers comprehensive analysis and additional InvestingPro Tips. With the use of the promo code PRONEWS24, new subscribers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 6 additional tips available on InvestingPro for Seer, which may provide further insights into the company's performance and potential investment opportunities.
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