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):
August 9, 2022
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 August 9, 2022, Seer, Inc. (the “Company”) issued a press release (the “Press Release”) announcing results for the quarter ended June 30, 2022. 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 9.01Financial Statements and Exhibits
Exhibit No.Description

99.1    Press Release, dated August 9, 2022
104    Cover page from this Current Report on Form 8-K, formatted in 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.

Date: August 9, 2022By:/s/ David Horn
David Horn
Chief Financial Officer


Seer Reports Second Quarter 2022 Financial Results
Company launches novel proteogenomics workflow with the Proteograph TM Analysis Suite 2.0, further demonstrates the power of its technology with new customer data, and advances key partnerships

REDWOOD CITY, Calif. August 9, 2022 – Seer, Inc. (Nasdaq: SEER), a life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the second quarter ended June 30, 2022.

“We are building on a strong start to the year and I am pleased with the positive trajectory of our business as we continued to execute against our core strategies. We are making progress across all areas of our business as we continue to ramp our commercial efforts and expand the installed base of the ProteographTM Product Suite,” said Omid Farokhzad, Chief Executive Officer and Chair. “It is inspiring to support our customers as they generate data that is enabling novel biological insight. We are excited about our opportunity, focused on our goals, and engaged with our customers to enable their success.”

Recent Highlights
Revenue of $3.6 million for the second quarter 2022.
Launched the Proteograph Analysis Suite 2.0, a first-of-its-kind integrated tool for scalable proteogenomic analysis at the peptide level, and an integral component of the Proteograph Product Suite.
Further exemplified power of technology through 28 posters across nine scientific conferences and industry events in the second quarter, including four customer posters and nine Seer presentations at the American Society for Mass Spectrometry (ASMS) conference in early June.
Demonstrated progress with Centers of Excellence up and running in multiple regions as well as progress operationalizing the Proteogenomics Consortium in partnership with Discovery Life Sciences and Sciex.
Second Quarter 2022 Financial Results

Revenue was $3.6 million for the three months ended June 30, 2022, as compared to $1.3 million for the three months ended June 30, 2021. The increase was primarily due to increased sales of the Proteograph Product Suite and its related products. Product-related revenue for the second quarter of 2022 was $3.5 million, including $1.1 million of related party revenue, and consisted of sales of SP100 instruments and consumable kits.

Gross profit, inclusive of grant and other revenue, was $1.6 million and gross margin was 44% for the second quarter of 2022.

Operating expenses were $25.0 million for the second quarter of 2022, including $8.4 million of stock-based compensation, as compared to $17.4 million, including $6.4 million of stock-based compensation, for the corresponding prior year period. The increase in expenses was driven by increased employee compensation and other related expenses, including stock-based compensation, and increased expenses related to the expansion of the company’s facilities and other costs related to being a publicly traded company.


Net loss was $22.8 million for the second quarter of 2022, as compared to $16.6 million for the corresponding prior year period.

Cash, cash equivalents and investments were approximately $456.1 million as of June 30, 2022.

2022 Guidance
Seer continues to expect full year 2022 revenue to be in the range of $14.0 million to $16.0 million.

Webcast Information
Seer will host a conference call to discuss the second quarter financial results on Tuesday, August 9, 2022 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 a new gateway to the proteome. Seer’s Proteograph Product Suite is 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 incorporated 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, that reflect the Company’s current views with respect to certain current and future events and financial performance. Words such as “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “estimates,” variations of such words, and similar expressions are also intended to identify such forward-looking statements. 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 the Company’s outlook for fiscal year 2022. 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, 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 June 30,Six Months Ended June 30,
Product$     2,406$     837$     4,555$      837
Related party1,1083802,178380
Grant and other5011764179
Total revenue3,6211,3346,9341,396
Cost of revenue:
Related party3548274882
Total cost of revenue2,0125864,080586
Gross profit1,6097482,854810
Operating expenses:
Research and development10,8716,93521,60713,162
Selling, general and administrative14,17210,48428,46620,816
Total operating expenses25,04317,41950,07333,978
Loss from operations(23,434)(16,671)(47,219)(33,168)
Other income (expense):
Interest income67655819123
Other expense(57)(61)
Total other income61955758123
Net loss$    (22,815)$    (16,616)$    (46,461)$    (33,045)
Other comprehensive loss:
Unrealized loss on available-for-sale securities    
Comprehensive loss$    (23,701)$    (16,678)$    (49,038)$    (33,133)
Net loss per share attributable to common stockholders, basic and diluted    
$     (0.37)$     (0.27)$     (0.75)$     (0.55)
Weighted-average common shares outstanding, basic and diluted    


Seer, Inc.
(in thousands, except share and per share amounts)
June 30,December 31,
Current assets:
Cash and cash equivalents$    79,023$    232,813
Short-term investments372,167167,261
Accounts receivable, net3,3412,495
Related party receivables8431,283
Other receivables998366
Prepaid expenses and other current assets3,5473,336
Total current assets466,757411,699
Long-term investments4,91593,186
Operating lease right-of-use assets27,95820,142
Property and equipment, net15,35013,087
Restricted cash524524
Other assets796501
Total assets$    516,300$    539,139
Current liabilities:
Accounts payable$    4,141$    3,789
Accrued expenses9,1428,394
Deferred revenue429376
Operating lease liabilities, current1,115864
Other current liabilities197
Total current liabilities15,02413,423
Operating lease liabilities, net of current portion28,91022,459
Other noncurrent liabilities323341
Total liabilities44,25736,223
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of June 30, 2022 and December 31, 2021; zero shares issued and outstanding as of June 30, 2022 and December 31, 2021    
Class A common stock, $0.00001 par value; 94,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 58,565,210 and 57,493,005 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively    
Class B common stock, $0.00001 par value; 6,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 4,044,969 and 4,522,478 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively     
Additional paid-in capital648,146629,981
Accumulated other comprehensive loss(3,113)(536)
Accumulated deficit(172,991)(126,530)
Total stockholders’ equity472,043502,916
Total liabilities and stockholders’ equity$    516,300$    539,139