Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 9, 2021
Seer, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of(Commission(I.R.S. Employer
incorporation)File Number)Identification No.)
3800 Bridge Parkway, Suite 102
Redwood City, California 94065
(Address of principal executive offices, including zip code)

(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last reports)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of each classTrading SymbolName of each exchange on which registered
Class A Common Stock, par value $0.00001 per shareSEER
The NASDAQ Stock Market LLC
(The NASDAQ Global Select Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 – Results of Operations and Financial Condition.

On November 9, 2021, Seer, Inc. (the “Company”) issued a press release (the “Press Release”) announcing results for the quarter ended September 30, 2021. A copy of the Press Release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

The information under Item 2.02 in this current report on Form 8-K and the related information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d)     Exhibits

Exhibit No.Description
Press Release dated November 9, 2021
104Cover Page Interactive Data File (formatted as Inline XBRL)


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

November 9, 2021/s/ David Horn
David Horn
Chief Financial Officer


Seer Reports Third Quarter 2021 Financial Results
Customers demonstrate novel methods using the Proteograph Product Suite and continued commercial momentum ahead of Broad Release in early 2022
REDWOOD CITY, Calif. Nov 9, 2021 – Seer, Inc. (Nasdaq: SEER), a life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the third quarter ended September 30, 2021.

“We continued to make outstanding progress this quarter and I could not be more pleased with the momentum of our business as we approach the close of 2021 and prepare for Broad Release in early 2022,” said Omid Farokhzad, Chair and Chief Executive Officer. “There continues to be growing enthusiasm and energy around our technology. I am inspired by the progress of our customers, proud of the strides we are making with our Proteograph Product Suite, and very grateful for the continued hard work of the Seer team.”

Recent Highlights
Revenue of $2.2 million for the third quarter of 2021, including $1.6 million of product-related revenue
Added new Limited Release customers during the third quarter and are on track to meet our target of a high single-digit number of Limited Release customers across key applications and markets
Demonstrated traction with customer adoption, seen with submissions to recent scientific conferences:

Oregon Health Sciences University, Knight Cancer Institute has initiated their large-scale, prostate cancer proteomics study - that will include at least 500, and possibly up to 1000, serum samples.
The Broad Institute demonstrated the Proteograph’s ability to reduce time and labor dramatically, while robustly and deeply sampling the proteome, with increased sensitivity.
Sanford Burnham Prebys Medical Discovery Institute demonstrated the compatibility of the Proteograph with a popular multiplexing method - Tandem Mass Tag (TMT).
Protein Metrics data showed that the Proteograph can analyze subpopulations of the glycoproteome, an important post-translation modification for biomarker discovery, without the need for glycopeptide-specific enrichment.

Third Quarter 2021 Financial Results
Revenue was $2.2 million for the three months ended September 30, 2021, as compared to $72 thousand for the three months ended September 30, 2020. The increase was the result of sales of products related to our Proteograph Product Suite and services performed for a large pharmaceutical company. Product-related revenue was $1.6 million, including $787 thousand of related party revenue, service revenue was $500 thousand, and grant revenue was $10 thousand.

Gross profit, inclusive of grant revenue, was $1.2 million and gross margin was 54% for the third quarter of 2021.

Operating expenses were $19.6 million for the third quarter of 2021, as compared to $8.5 million for the corresponding prior year period. The increase in expenses was driven by increased compensation, benefit and stock-based compensation expense associated with an increase in personnel, and an increase in costs associated with becoming a publicly traded company.

Net loss was $18.4 million for the third quarter of 2021, as compared to $8.2 million for the corresponding prior year period.

Cash, cash equivalents and investments were approximately $506.6 million as of September 30, 2021.

Webcast Information
Seer will host a conference call to discuss the third quarter 2021 financial results on Tuesday, November 9, 2021 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at The webcast will be archived and available for replay for at least 90 days after the event.

About Seer
Seer is a life sciences company developing transformative products that open up a new gateway to the proteome. Seer is commercializing its Proteograph™ Product Suite, an integrated solution that includes proprietary engineered nanoparticles, consumables, automation instrumentation and software to perform deep, unbiased proteomic analysis at scale in a matter of hours. Seer designed the Proteograph workflow to be efficient and easy-to-use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution that can be adopted by nearly any lab. Seer’s Proteograph Product Suite is for research use only and is not intended for diagnostic procedures. For more information, please visit

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on the Company’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements, including but not limited to statements regarding our timing and ability to enable unbiased, deep and rapid proteomics available at scale. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Quarterly Report on Form 10-Q, to be filed with the SEC on November 9, 2021, and other documents the Company subsequently files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact:
Carrie Mendivil

Media Contact:
Karen Possemato


Seer, Inc.
(In thousands, except share and per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,
Related party7871,167
Total revenue2,155723,551320
Cost of revenue:
Related party370452
Total cost of revenue9861,572
Gross profit1,169721,979320
Operating expenses:
Research and development7,7454,76220,90613,520
Selling, general and administrative11,8553,72632,6727,408
Total operating expenses19,6008,48853,57820,928
Loss from operations(18,431)(8,416)(51,599)(20,608)
Other income (expense):
Interest income46196169778
Other expense(9)(9)
Total other income46187169769
Net loss$(18,385)$(8,229)$(51,430)$(19,839)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities    
Comprehensive loss$(18,359)$(8,388)$(51,492)$(19,720)
Net loss per share attributable to common stockholders, basic and diluted    
Weighted-average common shares outstanding, basic and diluted    


Seer, Inc.
(in thousands, except share and per share amounts)
September 30,December 31,
Current assets:
Cash and cash equivalents$331,402$333,585 
Accounts receivable, net1,165— 
Related party receivables70399 
Other receivables672163 
Prepaid expenses and other current assets2,566452 
Total current assets514,267433,128 
Property and equipment, net12,5888,441 
Restricted cash524343 
Other assets459407 
Total assets$527,838$442,319 
Current liabilities:
Accounts payable$2,573$2,115 
Accrued expenses5,9745,147 
Accrued research and development627396 
Deferred revenue111250 
Deferred rent, current268186 
Total current liabilities9,5538,094 
Deferred rent, net of current portion2,6871,899 
Other noncurrent liabilities402717 
Total liabilities12,64210,710 
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of September 30, 2021 and December 31, 2020; zero shares issued and outstanding as of September 30, 2021 and December 31, 2020    
— — 
Class A common stock, $0.00001 par value; 94,000,000 shares authorized as of September 30, 2021 and December 31, 2020; 56,967,870 and 53,395,319 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively;     
Class B common stock, $0.00001 par value; 6,000,000 shares authorized as of September 30, 2021 and December 31, 2020; 4,686,028 and 5,865,732 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively;     
— — 
Additional paid-in capital621,994 486,915 
Accumulated other comprehensive income (loss)(8)54 
Accumulated deficit(106,791)(55,361)
Total stockholders’ equity515,196 431,609 
Total liabilities and stockholders’ equity$527,838 $442,319