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SEC Filings

10-K
SERES THERAPEUTICS, INC. filed this Form 10-K on 03/06/2019
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Investing Activities

During the year ended December 31, 2018, investing activities provided $112.3 million of cash, consisting of sales and maturities of investments of $136.1 million; these amounts were partially offset by purchases of investments of $21.8 million, and purchases of property and equipment of $1.9 million.

During the year ended December 31, 2017, investing activities provided $55.7 million of cash in investing activities, consisting of sales and maturities of investments of $158.3 million; these amounts were partially offset by purchases of investments of $97.9 million and purchases of property and equipment of $4.7 million.

During the year ended December 31, 2016, we used $65.6 million of cash in investing activities, consisting of sales and maturities of investments of $246.5 million; these amounts were partially offset by purchases of investments of $290.6 million, and purchases of property and equipment of $21.5 million.

Financing Activities

During the year ended December 31, 2018, net cash provided by financing activities was $0.3 million in connection with $0.3 million received from the issuance of common stock under our employee stock purchase plan and $0.2 million from the issuance of common stock and exercise of stock options. These were partially offset by payments for employee tax obligations relating to vesting of restricted stock units of $0.2 million.

During the year ended December 31, 2017, net cash provided by financing activities was $0.1 million in connection with the exercise of options to purchase our common stock, partially offset by payments for the repurchase of common stock.

During the year ended December 31, 2016, net cash provided by financing activities was $2.1 million in connection with the exercise of options to purchase our common stock.

Funding Requirements

Our expenses may increase substantially in connection with our ongoing and planned activities related to our pipeline products, which are in clinical development, and our follow-on therapeutic candidates and other programs. In addition, we expect to continue to incur additional costs associated with operating as a public company. We anticipate that our expenses will increase substantially if and as we:

 

continue the clinical development of SER-109, our lead product candidate, in the Phase 3 clinical study;

 

continue the clinical development of SER-287 for the treatment of UC;

 

continue the clinical development of SER-401, a microbiome therapeutic candidate for use with CPIs in a Phase 1b clinical trial in patients with metastatic melanoma;

 

conduct research and continue preclinical development of SER-301, our rationally designed IBD product candidate;

 

make strategic investments in manufacturing capabilities;

 

maintain and augment our intellectual property portfolio and opportunistically acquire complementary intellectual property;

 

potentially establish a sales and distribution infrastructure and scale-up manufacturing capabilities to commercialize any products for which we may obtain regulatory approval;

 

perform our obligations under the collaboration agreement with NHS;

 

seek to obtain regulatory approvals for our product candidates; and

 

experience any delays or encounter any issues with any of the above, including but not limited to failed studies, complex results, safety issues or other regulatory challenges.

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