Serina Therapeutics (SER) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $125K; net loss was $7.9M, and cash and equivalents totaled $19.4M at September 30, 2026.

• SER-252 Cohort 1 was completed in August; the Safety Monitoring Committee cleared Cohort 2, where higher-dose evaluation is underway.

• Blinded Cohort 1 pharmacokinetics showed prolonged exposure; exploratory motor-function improvements in individual patients remain preliminary.

Financial highlights

• Q3 revenue was $125K, flat YoY; 9M revenue was $125K versus $130K in 9M 2025.

• Q3 operating expenses were $8.0M, up $1.6M YoY; R&D was $4.6M and G&A was $3.4M. 9M expenses were $21.1M, up $3.1M.

• Q3 net loss was $7.9M versus $4.6M; loss per share was $0.31 versus $0.45.

• 9M net loss was $21.2M versus $15.9M; operating loss was $20.9M versus $17.8M. Net loss attributable to common stockholders was $23.8M versus $16.1M.

• Q3 other expense was immaterial, versus $1.8M other income in Q3 2025, primarily reflecting prior-year non-cash warrant gains and warrant expiration.

Outlook and guidance

• Topline data from the SER-252 single-ascending-dose portion are expected in H1 2027; Cohort 2 dosing is underway.

• The registrational study evaluates safety, tolerability and pharmacokinetics, with exploratory motor-function measures; its single-ascending-dose component includes five cohorts of eight participants.

• Operating expenses, R&D and capital expenditures are expected to increase as candidates advance; continued operating losses and negative cash flows are expected.

• Cash is not expected to fund operations for 12 months after issuance of the interim statements; additional financing is required, with no assurance it will be available on acceptable terms.

• Planned spending includes clinical development, preclinical programs, manufacturing, regulatory work, facilities and additional personnel.