Sera Prognostics (SERA) TD Cowen 46th Annual Health Care Conference summary

Unmet need and clinical opportunity

• Preterm birth affects 1 in 10 pregnancies, representing a significant and common healthcare challenge with few effective screening options.

• Premature births lead to substantial long-term health complications and societal costs, with lifetime healthcare expenses for preterm individuals estimated to be 50x to 300x higher than those born full term.

PRIME trial results and feedback

• The PRIME trial, a 5,000-person randomized controlled study, showed a 20% reduction in NICU admissions and a 56% reduction in births before 32 weeks using a bundled intervention.

• The intervention bundle (aspirin, progesterone, nurse calls) is low-cost, low-risk, and has received positive feedback from clinicians for both clinical and economic impact.

• Neonatal morbidity and mortality were reduced by 20%, with significant reductions in both NICU admissions and days, resonating strongly with neonatologists.

Health economics and payer engagement

• Number needed to screen is 4.2 to save one NICU day, and 40 to prevent one NICU admission, which is nearly four times better than current standards.

• Payers quickly recognize the economic value, especially given the high costs associated with NICU stays.