Sera Prognostics (SERA) TD Cowen 45th Annual Healthcare Conference summary

Framing the preterm birth challenge

• Preterm birth rates in the US have worsened over the past 10–20 years, affecting 1 in 10 babies and costing the healthcare system $25 billion annually.

• Current diagnostic methods rely on prior preterm birth or short cervix, which are not effective for most pregnancies, especially first-time mothers.

• Spontaneous preterm birth, which accounts for over half of cases, often lacks identifiable risk factors before onset.

Innovation and clinical evidence

• A new biomarker blood test between weeks 18–20 of pregnancy enables early risk identification and preventive interventions.

• Preventive bundles (aspirin, progesterone, nurse calls) have shown to extend gestation and reduce neonatal morbidity and hospital stays.

• The pivotal PRIME study demonstrated a 25% reduction in neonatal morbidity and mortality and an 18% reduction in neonatal length of stay, with consistent results across studies.

• NICU admissions were reduced by 20–22%, with a number needed to screen of just 41 to prevent one NICU admission, outperforming traditional ultrasound screening.

Market feedback and economic impact

• Clinicians and payers responded positively to reductions in NICU admissions and the efficiency of the screening test.

• Economic analysis suggests $2,200 spent to save one NICU day, which typically costs $5,000, resulting in significant savings.

• National payer modeling indicates $1,600 savings per member tested, with further data publication planned.