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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 05/09/2018
Entire Document
 

All investments with unrealized losses at March 31, 2018 have been in a loss position for less than 12 months or the loss is not material and temporary in nature. The Company does not intend to sell the investments that are in an unrealized loss position before recovery of their amortized cost basis.

 

 

5.

Property and Equipment, Net

Property and equipment, net consisted of the following:

 

 

 

March 31,

2018

 

 

December 31,

2017

 

Laboratory equipment

 

$

13,489

 

 

$

13,181

 

Computer equipment

 

 

2,852

 

 

 

2,832

 

Furniture and office equipment

 

 

1,033

 

 

 

1,033

 

Leasehold improvements

 

 

27,977

 

 

 

27,963

 

Construction in progress

 

 

495

 

 

 

361

 

 

 

 

45,846

 

 

 

45,370

 

Less: Accumulated depreciation and amortization

 

 

(14,380

)

 

 

(12,439

)

 

 

$

31,466

 

 

$

32,931

 

 

Depreciation and amortization expense was $1,941 and $1,730 for the three months ended March 31, 2018 and 2017, respectively.

 

 

6.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

 

 

 

March 31,

2018

 

 

December 31,

2017

 

Development and manufacturing costs

 

$

6,494

 

 

$

3,910

 

Payroll and payroll-related costs

 

 

2,033

 

 

 

4,962

 

Professional fees

 

 

330

 

 

 

344

 

Facility and other

 

 

3,016

 

 

 

3,297

 

 

 

$

11,873

 

 

$

12,513

 

 

 

7.

Stockholders’ Equity Common Stock

Stock Options

The following table summarizes the Company’s stock option activity since December 31, 2017:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

 

Outstanding as of December 31, 2017

 

 

6,125,692

 

 

$

13.00

 

 

 

7.70

 

 

$

15,808

 

Granted

 

 

1,511,276

 

 

 

10.38

 

 

 

 

 

 

 

 

 

Exercised

 

 

(48,053

)

 

 

0.66

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(90,124

)

 

 

17.60

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2018

 

 

7,498,791

 

 

$

12.50

 

 

 

7.93

 

 

$

9,989

 

Options vested and expected to vest as of March 31, 2018

 

 

7,498,791

 

 

$

12.50

 

 

 

7.93

 

 

$

9,989

 

Options exercisable as of March 31, 2018

 

 

3,767,312

 

 

$

11.45

 

 

 

6.90

 

 

$

9,897

 

 

The weighted average grant-date fair value of stock options granted during the three months ended March 31, 2018 and 2017 was $7.02 and $6.93 per share, respectively.

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